DoorDash (NASDAQ:DASH) Reaches New 1-Year High – Time to Buy?

DoorDash, Inc. (NASDAQ:DASH) reached a new 52-week high during trading on Monday . The company traded as high as $223.29 and last traded at $221.88, with a volume of 558501 shares changing hands. The stock had previously closed at $218.96.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus set a $198.00 price target on shares of DoorDash and gave the stock a “hold” rating in a research report on Tuesday, June 10th. BMO Capital Markets restated an “outperform” rating on shares of DoorDash in a report on Tuesday, April 29th. Wall Street Zen raised shares of DoorDash from a “hold” rating to a “buy” rating in a report on Saturday, June 7th. KeyCorp reduced their price objective on DoorDash from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Finally, Needham & Company LLC lifted their price target on shares of DoorDash from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average price target of $210.21.

DoorDash Stock Up 1.1%

The firm has a market capitalization of $93.82 billion, a PE ratio of 820.23 and a beta of 1.67. The business has a 50-day moving average price of $196.51 and a 200-day moving average price of $187.92.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the company earned ($0.06) EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Stanley Tang sold 45,231 shares of DoorDash stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $211.36, for a total value of $9,560,024.16. Following the completion of the transaction, the director now directly owns 26,070 shares in the company, valued at approximately $5,510,155.20. This trade represents a 63.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andy Fang sold 30,000 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $217.52, for a total value of $6,525,600.00. Following the completion of the sale, the director now directly owns 22,545 shares in the company, valued at $4,903,988.40. This represents a 57.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 298,030 shares of company stock worth $59,433,406 over the last ninety days. Corporate insiders own 5.83% of the company’s stock.

Institutional Investors Weigh In On DoorDash

A number of large investors have recently modified their holdings of DASH. Brighton Jones LLC increased its holdings in DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after buying an additional 1,807 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of DoorDash by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 93,382 shares of the company’s stock valued at $15,665,000 after acquiring an additional 2,596 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of DoorDash by 36.2% during the 4th quarter. Jones Financial Companies Lllp now owns 1,926 shares of the company’s stock worth $323,000 after acquiring an additional 512 shares in the last quarter. Truist Financial Corp raised its position in shares of DoorDash by 35.1% during the 4th quarter. Truist Financial Corp now owns 8,597 shares of the company’s stock worth $1,442,000 after acquiring an additional 2,233 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in DoorDash by 26.9% during the fourth quarter. Allworth Financial LP now owns 840 shares of the company’s stock worth $149,000 after purchasing an additional 178 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.