DoorDash (NASDAQ:DASH) Earns “Buy” Rating from Needham & Company LLC

DoorDash (NASDAQ:DASH)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They presently have a $137.00 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 7.48% from the stock’s previous close.

DASH has been the subject of several other reports. Truist Financial increased their price objective on DoorDash from $140.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. BMO Capital Markets raised their price objective on shares of DoorDash from $120.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Morgan Stanley raised shares of DoorDash from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $135.00 to $145.00 in a report on Thursday, February 22nd. Loop Capital assumed coverage on DoorDash in a report on Friday, April 19th. They set a “buy” rating and a $170.00 price target on the stock. Finally, Wedbush boosted their price target on DoorDash from $92.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.08.

DoorDash Price Performance

Shares of DASH opened at $127.46 on Thursday. DoorDash has a 1-year low of $60.36 and a 1-year high of $143.34. The stock has a market cap of $51.49 billion, a PE ratio of -89.13, a price-to-earnings-growth ratio of 14.38 and a beta of 1.78. The firm has a fifty day moving average price of $131.90 and a 200 day moving average price of $109.72.

DoorDash (NASDAQ:DASH) last posted its earnings results on Thursday, February 15th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.24). The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.25 billion. DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.63) EPS. As a group, equities analysts expect that DoorDash will post 0.21 EPS for the current fiscal year.

Insider Activity

In related news, CEO Tony Xu sold 132,300 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $131.96, for a total value of $17,458,308.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other DoorDash news, General Counsel Tia Sherringham sold 1,880 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $120.15, for a total transaction of $225,882.00. Following the completion of the transaction, the general counsel now owns 217,260 shares of the company’s stock, valued at $26,103,789. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tony Xu sold 132,300 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total value of $17,458,308.00. The disclosure for this sale can be found here. In the last three months, insiders sold 480,782 shares of company stock worth $63,130,157. Company insiders own 9.59% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Simplicity Solutions LLC raised its position in shares of DoorDash by 7.0% in the 3rd quarter. Simplicity Solutions LLC now owns 4,375 shares of the company’s stock worth $348,000 after buying an additional 285 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of DoorDash by 2.1% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,300 shares of the company’s stock worth $4,554,000 after purchasing an additional 1,200 shares during the period. SVB Wealth LLC raised its holdings in shares of DoorDash by 17.0% in the 3rd quarter. SVB Wealth LLC now owns 10,043 shares of the company’s stock worth $798,000 after purchasing an additional 1,458 shares during the period. Xponance Inc. lifted its stake in shares of DoorDash by 4.3% in the 3rd quarter. Xponance Inc. now owns 36,951 shares of the company’s stock valued at $2,936,000 after purchasing an additional 1,517 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of DoorDash by 62.3% during the 3rd quarter. Raymond James & Associates now owns 12,551 shares of the company’s stock worth $997,000 after purchasing an additional 4,820 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.