DoorDash (NASDAQ:DASH) Upgraded to Overweight by KeyCorp

KeyCorp upgraded shares of DoorDash (NASDAQ:DASH) from a sector weight rating to an overweight rating in a report released on Wednesday morning, MarketBeat Ratings reports. They currently have $177.00 price objective on the stock. KeyCorp also issued estimates for DoorDash’s Q3 2024 earnings at $0.19 EPS, Q4 2024 earnings at $0.22 EPS, FY2024 earnings at ($0.03) EPS, FY2025 earnings at $1.42 EPS and FY2026 earnings at $3.17 EPS.

A number of other equities analysts have also issued reports on DASH. DA Davidson raised their target price on shares of DoorDash from $110.00 to $119.00 and gave the stock a neutral rating in a research report on Monday, August 5th. BMO Capital Markets lifted their price objective on shares of DoorDash from $127.00 to $140.00 and gave the company an outperform rating in a research note on Friday, August 2nd. Truist Financial upped their target price on shares of DoorDash from $145.00 to $150.00 and gave the company a buy rating in a report on Friday, August 2nd. Wolfe Research initiated coverage on DoorDash in a report on Tuesday, July 16th. They set an outperform rating and a $130.00 price target on the stock. Finally, Needham & Company LLC boosted their price target on DoorDash from $137.00 to $145.00 and gave the company a buy rating in a research report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $145.97.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $142.23 on Wednesday. DoorDash has a 12 month low of $69.90 and a 12 month high of $146.36. The firm has a market capitalization of $58.53 billion, a P/E ratio of -131.69, a P/E/G ratio of 295.70 and a beta of 1.69. The company’s fifty day moving average price is $125.10 and its 200 day moving average price is $121.89.

DoorDash (NASDAQ:DASH) last posted 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). The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.44) EPS. On average, sell-side analysts anticipate that DoorDash will post 0.01 EPS for the current year.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $5,836,386.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the sale, the director now directly owns 18,089 shares of the company’s stock, valued at $2,355,187.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $107.75, for a total value of $5,836,386.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 350,223 shares of company stock worth $41,391,523. 7.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Several large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. boosted its position in DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares during the period. Headlands Technologies LLC acquired a new position in shares of DoorDash during the second quarter worth about $32,000. Versant Capital Management Inc boosted its position in shares of DoorDash by 340.8% in the second 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 period. ORG Partners LLC grew its stake in shares of DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 253 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in shares of DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Company Profile

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.