Cantor Fitzgerald Reaffirms Overweight Rating for DoorDash (NASDAQ:DASH)

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

Several other equities research analysts have also recently commented on the company. JMP Securities increased their price objective on DoorDash from $145.00 to $160.00 and gave the company a market outperform rating in a research report on Monday. Roth Mkm lifted their price target on shares of DoorDash from $118.00 to $124.00 and gave the stock a neutral rating in a research note on Monday, August 5th. Redburn Atlantic began coverage on shares of DoorDash in a research report on Friday, July 26th. They set a buy rating and a $170.00 price objective on the stock. UBS Group lifted their target price on shares of DoorDash from $125.00 to $143.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. Finally, Argus began coverage on DoorDash in a report on Tuesday, July 23rd. They set a hold rating on the stock. Ten analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DoorDash presently has a consensus rating of Moderate Buy and an average price target of $146.44.

DoorDash Stock Performance

NASDAQ:DASH opened at $143.58 on Monday. The firm has a market cap of $58.71 billion, a P/E ratio of -132.94, a P/E/G ratio of 295.70 and a beta of 1.69. DoorDash has a fifty-two week low of $69.90 and a fifty-two week high of $146.36. The firm has a 50-day simple moving average of $127.41 and a two-hundred day simple moving average of $122.12.

DoorDash (NASDAQ:DASH) last announced its quarterly 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 firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. DoorDash’s revenue was up 23.3% on a year-over-year basis. During the same period last year, the business earned ($0.44) EPS. On average, equities research analysts predict that DoorDash will post 0.01 EPS for the current year.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the transaction, the director now directly owns 19,982 shares in the company, valued at approximately $2,109,499.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 281,503 shares of company stock worth $33,988,063. Corporate insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently added to or reduced their stakes in the stock. ORG Partners LLC raised its position in DoorDash by 2,108.3% during the 1st 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 second quarter valued at about $32,000. Meeder Asset Management Inc. raised its holdings in shares of DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 132 shares in the last quarter. Hollencrest Capital Management purchased a new stake in DoorDash in the first quarter worth about $42,000. Finally, Versant Capital Management Inc grew its holdings in DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

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.