DoorDash (NASDAQ:DASH) Stock Rating Upgraded by Rosenblatt Securities

DoorDash (NASDAQ:DASH) was upgraded by equities research analysts at Rosenblatt Securities to a “strong-buy” rating in a report released on Monday, Zacks reports.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler reaffirmed a “neutral” rating and set a $220.00 price objective (up from $205.00) on shares of DoorDash in a research report on Thursday, August 6th. Bank of America restated a “buy” rating on shares of DoorDash in a research note on Thursday, August 6th. Argus set a $190.00 target price on DoorDash in a report on Thursday, June 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of DoorDash in a research report on Friday, August 7th. Finally, Barclays downgraded DoorDash from an “equal weight” rating to a “strong sell” rating in a report on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $254.97.

DoorDash Stock Performance

Shares of DASH opened at $225.66 on Monday. The business’s fifty day moving average price is $201.37 and its 200 day moving average price is $177.42. DoorDash has a 12-month low of $143.30 and a 12-month high of $285.50. The stock has a market capitalization of $97.78 billion, a PE ratio of 118.15 and a beta of 1.79. 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) last issued its 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). DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same period last year, the company posted $0.65 earnings per share. The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. Equities research analysts forecast that DoorDash will post 2.45 EPS for the current year.

Insider Activity

In other DoorDash news, CFO Ravi Inukonda sold 19,505 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $220.62, for a total value of $4,303,193.10. Following the completion of the transaction, the chief financial officer owned 232,938 shares in the company, valued at approximately $51,390,781.56. This represents a 7.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Prabir Adarkar sold 55,289 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $231.76, for a total transaction of $12,813,778.64. Following the completion of the sale, the chief operating officer owned 930,211 shares in the company, valued at $215,585,701.36. The trade was a 5.61% 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. Over the last 90 days, insiders sold 337,674 shares of company stock valued at $72,974,540. Company insiders own 44.90% of the company’s stock.

Institutional Trading of DoorDash

Several large investors have recently added to or reduced their stakes in DASH. Intech Investment Management LLC grew its position in DoorDash by 707.8% in the 4th quarter. Intech Investment Management LLC now owns 253,348 shares of the company’s stock valued at $57,378,000 after buying an additional 221,985 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of DoorDash by 9.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 156,960 shares of the company’s stock worth $35,548,000 after buying an additional 13,121 shares in the last quarter. Allstate Corp raised its position in shares of DoorDash by 116.7% during the 4th quarter. Allstate Corp now owns 29,227 shares of the company’s stock worth $6,619,000 after buying an additional 15,741 shares in the last quarter. Brighton Jones LLC raised its position in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after buying an additional 1,807 shares in the last quarter. Finally, JCP Investment Management LLC acquired a new stake in shares of DoorDash in the 1st quarter worth approximately $991,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.