DoorDash’s (DASH) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of DoorDash (NASDAQ:DASH) in a research report sent to investors on Monday, Benzinga reports. They currently have a $160.00 target price on the stock.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company raised their target price on DoorDash from $125.00 to $127.00 and gave the stock an equal weight rating in a research note on Friday, August 2nd. Wolfe Research assumed coverage on DoorDash in a research note on Tuesday, July 16th. They issued an outperform rating and a $130.00 price objective for the company. Evercore ISI increased their price target on shares of DoorDash from $145.00 to $155.00 and gave the stock an outperform rating in a report on Friday, August 2nd. DA Davidson increased their price objective on shares of DoorDash from $110.00 to $119.00 and gave the stock a neutral rating in a research note on Monday, August 5th. Finally, Wedbush restated a neutral rating and set a $115.00 target price on shares of DoorDash in a research report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, DoorDash has a consensus rating of Moderate Buy and an average target price of $145.50.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $143.02 on Monday. DoorDash has a fifty-two week low of $69.90 and a fifty-two week high of $146.36. The company has a market cap of $58.86 billion, a PE ratio of -132.43, a P/E/G ratio of 295.70 and a beta of 1.69. The business has a 50-day simple moving average of $124.38 and a two-hundred day simple moving average of $121.86.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.44) EPS. On average, sell-side analysts predict that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Keith Yandell sold 6,554 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $706,193.50. Following the transaction, the insider now directly owns 155,097 shares of the company’s stock, valued at $16,711,701.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $107.75, for a total value of $5,836,386.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Keith Yandell sold 6,554 shares of DoorDash stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $107.75, for a total value of $706,193.50. Following the transaction, the insider now owns 155,097 shares in the company, valued at approximately $16,711,701.75. The disclosure for this sale can be found here. Insiders have sold a total of 350,223 shares of company stock valued at $41,391,523 in the last 90 days. 7.92% of the stock is owned by insiders.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently modified their holdings of DASH. PNC Financial Services Group Inc. grew its holdings in shares of DoorDash by 40.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,431 shares of the company’s stock valued at $1,526,000 after purchasing an additional 4,475 shares during the period. Wells Fargo & Company MN grew its holdings in shares of DoorDash by 102.5% during the 4th quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock worth $19,694,000 after purchasing an additional 100,787 shares during the period. Corient Private Wealth LLC raised its holdings in DoorDash by 4.2% in the 4th quarter. Corient Private Wealth LLC now owns 8,015 shares of the company’s stock valued at $793,000 after buying an additional 320 shares during the period. US Bancorp DE raised its holdings in DoorDash by 9.1% in the 4th quarter. US Bancorp DE now owns 6,874 shares of the company’s stock valued at $680,000 after buying an additional 573 shares during the period. Finally, Commerce Bank lifted its position in DoorDash by 3.4% in the fourth quarter. Commerce Bank now owns 5,073 shares of the company’s stock valued at $502,000 after buying an additional 166 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Company Profile

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.