JMP Securities Reaffirms Market Outperform Rating for DoorDash (NASDAQ:DASH)

DoorDash (NASDAQ:DASH)‘s stock had its “market outperform” rating reiterated by research analysts at JMP Securities in a report released on Thursday,Benzinga reports. They currently have a $200.00 target price on the stock. JMP Securities’ price objective would indicate a potential upside of 14.31% from the stock’s previous close.

Several other equities analysts have also recently weighed in on DASH. Piper Sandler raised their price target on shares of DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Truist Financial raised their target price on DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. DA Davidson upped their price target on DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective on the stock in a research note on Wednesday, September 25th. Finally, UBS Group upped their target price on shares of DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $171.42.

DoorDash Stock Up 2.5 %

DASH stock opened at $174.96 on Thursday. The firm has a market cap of $72.68 billion, a price-to-earnings ratio of -388.80, a PEG ratio of 13.56 and a beta of 1.70. The company’s fifty day simple moving average is $171.36 and its 200 day simple moving average is $141.52. DoorDash has a 12-month low of $93.33 and a 12-month high of $181.78.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the business posted ($0.19) EPS. DoorDash’s revenue for the quarter was up 25.0% compared to the same quarter last year. Research analysts expect that DoorDash will post 0.26 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In related news, CEO Tony Xu sold 81,249 shares of DoorDash stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $179.76, for a total transaction of $1,258,320.00. Following the completion of the sale, the chief financial officer now owns 373,993 shares in the company, valued at $67,228,981.68. The trade was a 1.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,082,694 shares of company stock worth $183,152,786. 7.92% of the stock is owned by insiders.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. increased its position in shares of DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares in the last quarter. Dragoneer Investment Group LLC lifted its position in DoorDash by 77.9% during the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after buying an additional 1,246,567 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in DoorDash by 216.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after buying an additional 739,961 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in DoorDash by 3,284.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock valued at $79,385,000 after buying an additional 708,218 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after acquiring an additional 700,465 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.