DoorDash (NASDAQ:DASH) Stock Rating Upgraded by Raymond James Financial

Raymond James Financial upgraded shares of DoorDash (NASDAQ:DASH) from an outperform rating to a strong-buy rating in a research note published on Monday, MarketBeat Ratings reports. They currently have $260.00 price objective on the stock, up from their previous price objective of $215.00.

Several other equities research analysts have also issued reports on DASH. Loop Capital lifted their price objective on shares of DoorDash from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Oppenheimer reaffirmed a “hold” rating on shares of DoorDash in a research note on Monday, March 10th. Morgan Stanley reduced their price objective on shares of DoorDash from $245.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Bank of America lifted their price objective on shares of DoorDash from $230.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, June 12th. Finally, DA Davidson lifted their target price on shares of DoorDash from $150.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $214.76.

DoorDash Trading Down 1.5%

DASH stock opened at $232.68 on Monday. DoorDash has a 1 year low of $99.32 and a 1 year high of $238.47. The company has a fifty day simple moving average of $203.65 and a 200 day simple moving average of $190.41. The firm has a market cap of $98.60 billion, a PE ratio of 302.19 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the business earned ($0.06) EPS. DoorDash’s quarterly revenue was up 20.7% compared to the same quarter last year. As a group, analysts forecast that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, Director Shona L. Brown sold 1,248 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $231.70, for a total value of $289,161.60. Following the sale, the director now owns 45,213 shares of the company’s stock, valued at $10,475,852.10. The trade was a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Keith Yandell sold 5,410 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $204.53, for a total transaction of $1,106,507.30. Following the completion of the sale, the insider now directly owns 104,922 shares in the company, valued at approximately $21,459,696.66. The trade was a 4.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 332,127 shares of company stock valued at $67,346,994 over the last quarter. 5.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoorDash

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swedbank AB boosted its position in DoorDash by 8.1% in the first quarter. Swedbank AB now owns 184,849 shares of the company’s stock valued at $33,785,000 after buying an additional 13,794 shares in the last quarter. Voya Investment Management LLC boosted its position in DoorDash by 215.5% in the first quarter. Voya Investment Management LLC now owns 83,640 shares of the company’s stock valued at $15,287,000 after buying an additional 57,130 shares in the last quarter. Strs Ohio acquired a new position in DoorDash in the first quarter valued at about $15,752,000. Geneos Wealth Management Inc. boosted its position in DoorDash by 14.9% in the first quarter. Geneos Wealth Management Inc. now owns 4,069 shares of the company’s stock valued at $744,000 after buying an additional 527 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its position in DoorDash by 9.5% in the first quarter. IFM Investors Pty Ltd now owns 61,803 shares of the company’s stock valued at $11,296,000 after buying an additional 5,349 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.