DoorDash (NASDAQ:DASH) Earns “Buy” Rating from Guggenheim

DoorDash (NASDAQ:DASH)‘s stock had its “buy” rating reissued by Guggenheim in a report released on Wednesday,Benzinga reports. They currently have a $280.00 target price on the stock. Guggenheim’s price target indicates a potential upside of 33.17% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Susquehanna dropped their price objective on shares of DoorDash from $300.00 to $250.00 and set a “positive” rating on the stock in a research note on Friday, November 7th. BMO Capital Markets boosted their price target on shares of DoorDash from $238.00 to $288.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. dropped their price target on shares of DoorDash from $325.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Evercore ISI reiterated an “outperform” rating and set a $360.00 price objective (up from $240.00) on shares of DoorDash in a report on Friday, August 8th. Finally, BTIG Research restated a “buy” rating and issued a $315.00 target price on shares of DoorDash in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average price target of $276.94.

DoorDash Stock Down 0.9%

DoorDash stock traded down $1.82 during mid-day trading on Wednesday, hitting $210.26. The company’s stock had a trading volume of 1,330,071 shares, compared to its average volume of 4,510,482. DoorDash has a 52-week low of $155.40 and a 52-week high of $285.50. The company has a market cap of $90.62 billion, a PE ratio of 107.07 and a beta of 1.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.04. The firm’s 50 day moving average is $252.45 and its 200 day moving average is $238.61.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.13). The business had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The company’s revenue was up 27.3% compared to the same quarter last year. During the same period last year, the firm earned $0.38 EPS. On average, analysts anticipate that DoorDash will post 2.22 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $243.32, for a total transaction of $7,299,600.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $243.31, for a total value of $11,048,707.10. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 499,707 shares of company stock valued at $127,140,411. Corporate insiders own 5.83% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several large investors have recently bought and sold shares of DASH. Vanguard Group Inc. grew its position in DoorDash by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock worth $11,617,484,000 after purchasing an additional 1,522,823 shares during the last quarter. State Street Corp lifted its stake in shares of DoorDash by 6.3% in the third quarter. State Street Corp now owns 15,296,624 shares of the company’s stock valued at $4,160,529,000 after buying an additional 909,125 shares during the period. Capital World Investors lifted its stake in shares of DoorDash by 0.9% in the third quarter. Capital World Investors now owns 10,865,927 shares of the company’s stock valued at $2,955,424,000 after buying an additional 95,278 shares during the period. Geode Capital Management LLC grew its position in DoorDash by 2.9% during the second quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock worth $1,950,711,000 after buying an additional 223,188 shares in the last quarter. Finally, Invesco Ltd. increased its stake in DoorDash by 18.2% during the third quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock valued at $1,728,667,000 after acquiring an additional 980,148 shares during the period. 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.