DoorDash (NASDAQ:DASH) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of DoorDash (NASDAQ:DASH) in a research report sent to investors on Monday, Benzinga reports. The firm currently has a $160.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company increased their target price on shares of DoorDash from $125.00 to $127.00 and gave the company an equal weight rating in a research report on Friday, August 2nd. KeyCorp upgraded DoorDash from a sector weight rating to an overweight rating and set a $177.00 price objective for the company in a report on Wednesday, September 25th. DA Davidson upped their target price on DoorDash from $110.00 to $119.00 and gave the company a neutral rating in a research report on Monday, August 5th. Wolfe Research initiated coverage on DoorDash in a research note on Tuesday, July 16th. They issued an outperform rating and a $130.00 price target for the company. Finally, Morgan Stanley boosted their price target on DoorDash from $145.00 to $150.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, DoorDash has a consensus rating of Moderate Buy and a consensus target price of $146.44.

DoorDash Trading Up 1.2 %

DASH opened at $143.58 on Monday. The firm has a market cap of $58.71 billion, a price-to-earnings ratio of -132.94, a PEG ratio of 295.70 and a beta of 1.69. DoorDash has a 12 month low of $69.90 and a 12 month high of $146.36. The stock has a fifty day moving average price of $127.41 and a 200-day moving average price of $122.12.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the firm posted ($0.44) earnings per share. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, equities research analysts forecast that DoorDash will post 0.01 EPS for the current year.

Insider Activity at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $104.96, for a total transaction of $5,685,263.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $105.57, for a total value of $5,278,500.00. Following the completion of the sale, the director now directly owns 19,982 shares in the company, valued at $2,109,499.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $104.96, for a total value of $5,685,263.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 281,503 shares of company stock worth $33,988,063. 7.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoorDash

A number of large investors have recently added to or reduced their stakes in DASH. Meeder Asset Management Inc. grew its position in shares of DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares during the period. Headlands Technologies LLC purchased a new position in DoorDash in the 2nd quarter valued at about $32,000. Versant Capital Management Inc boosted its holdings in DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after buying an additional 259 shares during the last quarter. ORG Partners LLC boosted its holdings in DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after buying an additional 253 shares during the last quarter. Finally, Quest Partners LLC increased its stake in DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after buying an additional 204 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

About DoorDash

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.