DoorDash (NASDAQ:DASH) Upgraded at KeyCorp

KeyCorp upgraded shares of DoorDash (NASDAQ:DASH) from a sector weight rating to an overweight rating in a research report released on Wednesday, MarketBeat Ratings reports. They currently have $177.00 target price on the stock. KeyCorp also issued estimates for DoorDash’s Q3 2024 earnings at $0.19 EPS, Q4 2024 earnings at $0.22 EPS, FY2024 earnings at ($0.03) EPS, FY2025 earnings at $1.42 EPS and FY2026 earnings at $3.17 EPS.

Several other research analysts have also weighed in on DASH. Truist Financial raised their price objective on shares of DoorDash from $145.00 to $150.00 and gave the stock a buy rating in a report on Friday, August 2nd. Roth Mkm upped their price objective on DoorDash from $118.00 to $124.00 and gave the company a neutral rating in a research note on Monday, August 5th. Benchmark reaffirmed a buy rating and set a $150.00 target price on shares of DoorDash in a report on Tuesday, July 30th. JMP Securities boosted their price target on DoorDash from $140.00 to $145.00 and gave the company a market outperform rating in a report on Friday, August 2nd. Finally, DA Davidson raised their price objective on DoorDash from $110.00 to $119.00 and gave the stock a neutral rating in a research note on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, DoorDash has a consensus rating of Moderate Buy and an average target price of $145.97.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $142.23 on Wednesday. DoorDash has a 1 year low of $69.90 and a 1 year high of $146.36. The stock’s 50-day simple moving average is $125.10 and its 200-day simple moving average is $121.89. The firm has a market cap of $58.53 billion, a price-to-earnings ratio of -131.69, a PEG ratio of 295.70 and a beta of 1.69.

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

Insider Transactions at DoorDash

In related news, insider Keith Yandell sold 6,554 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 155,097 shares in the company, valued at approximately $16,711,701.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $107.75, for a total transaction of $5,836,386.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Keith Yandell sold 6,554 shares of the company’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 completion of 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 350,223 shares of company stock valued at $41,391,523 over the last three months. Company insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Several institutional investors have recently made changes to their positions in DASH. ORG Partners LLC grew its stake in DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 253 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of DoorDash in the 2nd quarter valued at approximately $32,000. Meeder Asset Management Inc. increased its holdings in DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares during the last quarter. Hollencrest Capital Management bought a new position in DoorDash during the first quarter valued at approximately $42,000. Finally, Versant Capital Management Inc lifted its stake in DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares during the last quarter. 90.64% of the stock is currently 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.