Shares of DoorDash, Inc. (NASDAQ:DASH – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the thirty-six analysts that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $257.61.
Several equities research analysts have recently commented on the company. Rosenblatt Securities assumed coverage on DoorDash in a report on Tuesday, September 1st. They set a “buy” rating and a $270.00 price objective for the company. Wedbush increased their target price on DoorDash from $205.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, August 20th. Bank of America reissued a “buy” rating on shares of DoorDash in a research report on Thursday, August 6th. Benchmark decreased their price target on shares of DoorDash from $285.00 to $270.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Finally, Argus set a $190.00 price objective on shares of DoorDash in a report on Thursday, June 11th.
Get Our Latest Stock Analysis on DASH
Key DoorDash News
- Positive Sentiment: AI and drone delivery initiatives: CEO Tony Xu said AI agents could increase demand for human labor, while DoorDash unveiled its own delivery drone with Chipotle and Popeyes as launch partners. These developments support the company’s technology strategy and could eventually improve delivery capacity and margins. DoorDash’s Tony Xu says AI agents will increase demand for human labour DoorDash Unveils Its Own Delivery Drone
- Positive Sentiment: Marketplace expansion: Costco delivery launched on DoorDash across Canada, broadening DASH’s grocery and retail offering and potentially increasing order volume and customer engagement. Costco Delivery Launches on DoorDash Across Canada
- Neutral Sentiment: Brand and product strategy coverage: Reports about DoorDash’s viral advertising agency being sold and the company encouraging customers to use alternatives to its food-ordering app may reflect broader marketing and commerce initiatives, but no immediate earnings impact was provided. Brands are fleeing TV for social
- Negative Sentiment: Service outages: Downdetector reports indicated that thousands of users experienced DoorDash login, ordering or app-access problems. Persistent reliability issues could reduce orders, frustrate customers and raise support costs. DoorDash Down for Thousands of Users
- Negative Sentiment: Insider selling: Director Stanley Tang sold 23,125 shares worth about $4.3 million, while COO Keith Yandell sold 2,183 shares and director Andy Fang sold 5,000 shares. The trades were made under preset Rule 10b5-1 plans, limiting their bearish significance, but the clustered sales may weigh on sentiment.
- Negative Sentiment: Customer-fraud incident: A reported scam involved someone impersonating DoorDash support and attempting to charge a customer’s payment card. Although the incident does not establish wrongdoing by DoorDash, it highlights potential fraud and customer-trust risks. DoorDash customer thinks she’s getting a $200 credit
Insider Activity at DoorDash
In related news, Director Andy Fang sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $183.69, for a total value of $918,450.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 16,044 shares of DoorDash stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $228.55, for a total value of $3,666,856.20. Following the transaction, the chief financial officer owned 217,911 shares of the company’s stock, valued at $49,803,559.05. This trade represents a 6.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 392,981 shares of company stock valued at $85,663,015 over the last quarter. 44.90% of the stock is currently owned by company insiders.
Institutional Trading of DoorDash
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eastern Bank bought a new position in shares of DoorDash in the third quarter valued at approximately $69,000. QRG Capital Management Inc. grew its holdings in DoorDash by 191.2% during the second quarter. QRG Capital Management Inc. now owns 251,374 shares of the company’s stock worth $46,386,000 after buying an additional 165,039 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in DoorDash by 501.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,211 shares of the company’s stock worth $5,390,000 after buying an additional 24,356 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in DoorDash by 1,148.7% during the second quarter. Sequoia Financial Advisors LLC now owns 99,622 shares of the company’s stock worth $18,383,000 after buying an additional 91,644 shares in the last quarter. Finally, MCF Advisors LLC raised its position in DoorDash by 1,488.4% in the 2nd quarter. MCF Advisors LLC now owns 2,462 shares of the company’s stock valued at $454,000 after buying an additional 2,307 shares during the last quarter. 90.64% of the stock is owned by institutional investors.
DoorDash Stock Performance
Shares of DASH opened at $191.24 on Monday. DoorDash has a one year low of $143.30 and a one year high of $285.50. The company has a market cap of $82.86 billion, a PE ratio of 100.13 and a beta of 1.90. The stock has a 50-day moving average of $206.67 and a 200-day moving average of $182.28. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37.
DoorDash (NASDAQ:DASH – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The firm had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.34 billion. DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The firm’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. On average, equities research analysts predict that DoorDash will post 2.51 EPS for the current fiscal year.
DoorDash Company Profile
DoorDash, Inc is a technology company that operates a local commerce platform connecting consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its DoorDash app and website, customers can discover businesses, place orders for delivery or pickup, and access related services. The company also provides merchants with tools for online ordering, logistics, customer engagement, advertising and business analytics.
DoorDash generates additional activity through subscription programs such as DashPass, which provides participating customers with delivery-related benefits, and through its logistics and commerce solutions for merchants.
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