DoorDash (NASDAQ:DASH) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of DoorDash (NASDAQ:DASH) in a research note released on Thursday, Benzinga reports. The firm currently has a $137.00 price objective on the stock.

A number of other equities research analysts have also recently weighed in on DASH. Loop Capital started coverage on DoorDash in a research note on Friday, April 19th. They issued a buy rating and a $170.00 price target on the stock. Susquehanna upped their price objective on DoorDash from $110.00 to $135.00 and gave the company a positive rating in a report on Tuesday, February 20th. The Goldman Sachs Group upped their price objective on DoorDash from $109.00 to $122.00 and gave the company a neutral rating in a report on Friday, February 16th. UBS Group decreased their price objective on DoorDash from $123.00 to $118.00 and set a neutral rating on the stock in a report on Friday, February 16th. Finally, Morgan Stanley raised DoorDash from an equal weight rating to an overweight rating and upped their price objective for the company from $135.00 to $145.00 in a report on Thursday, February 22nd. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $129.96.

DoorDash Stock Performance

DASH traded down $0.50 during trading hours on Thursday, reaching $113.81. The company’s stock had a trading volume of 6,210,790 shares, compared to its average volume of 4,293,060. DoorDash has a 52 week low of $60.36 and a 52 week high of $143.34. The company’s 50-day moving average is $131.86 and its 200-day moving average is $110.13. The firm has a market cap of $45.98 billion, a PE ratio of -105.38, a price-to-earnings-growth ratio of 13.13 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter in the prior year, the business earned ($0.41) EPS. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. Equities analysts anticipate that DoorDash will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Shona L. Brown sold 700 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $109.71, for a total transaction of $76,797.00. Following the completion of the sale, the director now directly owns 71,514 shares in the company, valued at approximately $7,845,800.94. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Shona L. Brown sold 700 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $109.71, for a total transaction of $76,797.00. Following the completion of the sale, the director now directly owns 71,514 shares in the company, valued at approximately $7,845,800.94. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Shona L. Brown sold 703 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $133.09, for a total value of $93,562.27. Following the sale, the director now owns 70,811 shares of the company’s stock, valued at $9,424,235.99. The disclosure for this sale can be found here. Insiders sold a total of 487,782 shares of company stock worth $64,046,807 in the last ninety days. 9.59% of the stock is owned by insiders.

Hedge Funds Weigh In On DoorDash

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in DoorDash by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after purchasing an additional 2,259,976 shares during the last quarter. Baillie Gifford & Co. raised its position in DoorDash by 6.4% in the fourth quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock valued at $1,263,381,000 after purchasing an additional 772,977 shares during the last quarter. Capital World Investors raised its position in DoorDash by 0.6% in the fourth quarter. Capital World Investors now owns 9,395,743 shares of the company’s stock valued at $929,145,000 after purchasing an additional 60,033 shares during the last quarter. First Trust Advisors LP raised its position in DoorDash by 45.6% in the fourth quarter. First Trust Advisors LP now owns 3,079,083 shares of the company’s stock valued at $304,490,000 after purchasing an additional 964,860 shares during the last quarter. Finally, Norges Bank bought a new position in DoorDash in the fourth quarter valued at about $264,806,000. 90.64% of the stock is currently owned by 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.