DoorDash (NYSE:DASH) Upgraded at Zacks Investment Research

DoorDash (NYSE:DASH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday, Zacks.com reports.

According to Zacks, “DoorDash, Inc. provides restaurant food delivery services. The Company develops technology to connect customers with merchants through an on-demand food delivery application. DoorDash, Inc. is based in San Francisco, United States. “

Several other equities research analysts have also issued reports on the company. The Goldman Sachs Group started coverage on DoorDash in a research report on Monday. They set a “neutral” rating and a $187.00 price target on the stock. Wells Fargo & Company upped their price target on DoorDash from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 13th. DA Davidson dropped their price target on DoorDash from $162.00 to $158.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 19th. JMP Securities increased their target price on DoorDash from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, August 13th. Finally, Mizuho increased their target price on DoorDash from $155.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, August 13th. Thirteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $190.40.

Shares of DASH opened at $203.33 on Monday. The business’s 50 day moving average is $186.06 and its two-hundred day moving average is $160.25. DoorDash has a 52-week low of $110.13 and a 52-week high of $256.09. The firm has a market cap of $68.71 billion and a price-to-earnings ratio of -27.51.

DoorDash (NYSE:DASH) last announced its earnings results on Thursday, August 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.10). The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.10 billion. On average, analysts anticipate that DoorDash will post -1.15 earnings per share for the current year.

In related news, CAO Gordon S. Lee sold 28,802 shares of the stock in a transaction dated Monday, June 21st. The stock was sold at an average price of $175.15, for a total value of $5,044,670.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andy Fang sold 40,000 shares of the firm’s stock in a transaction dated Thursday, June 17th. The stock was sold at an average price of $161.81, for a total value of $6,472,400.00. The disclosure for this sale can be found here. Insiders have sold 12,065,573 shares of company stock valued at $2,184,708,683 in the last ninety days. Company insiders own 15.54% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. IFP Advisors Inc raised its stake in shares of DoorDash by 200.0% during the 1st quarter. IFP Advisors Inc now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 200 shares in the last quarter. Tsfg LLC acquired a new position in shares of DoorDash during the 2nd quarter valued at about $63,000. Toronto Dominion Bank acquired a new position in shares of DoorDash during the 2nd quarter valued at about $64,000. The PNC Financial Services Group Inc. acquired a new position in shares of DoorDash during the 1st quarter valued at about $49,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of DoorDash by 147.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 420 shares of the company’s stock valued at $75,000 after acquiring an additional 250 shares during the last quarter. 73.53% of the stock is owned by institutional investors.

About DoorDash

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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