DoorDash (NASDAQ:DASH) Stock Rating Upgraded by Argus

Argus upgraded shares of DoorDash (NASDAQ:DASH) from a hold rating to a buy rating in a research note published on Friday morning, Marketbeat.com reports.

Several other research firms have also recently commented on DASH. Wells Fargo & Company lifted their target price on shares of DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, October 4th. The Goldman Sachs Group lifted their price target on DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Citigroup boosted their price objective on DoorDash from $155.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. raised their target price on DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Loop Capital boosted their price target on shares of DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.39.

DoorDash Trading Up 2.0 %

Shares of DoorDash stock opened at $171.00 on Friday. The company has a market capitalization of $71.03 billion, a P/E ratio of -380.00, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70. The stock has a fifty day simple moving average of $167.59 and a 200 day simple moving average of $137.71. DoorDash has a 12-month low of $93.33 and a 12-month high of $181.78.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the business posted ($0.19) EPS. The business’s revenue was up 25.0% compared to the same quarter last year. On average, analysts predict that DoorDash will post 0.26 EPS for the current year.

Insider Buying and Selling

In other DoorDash news, insider Keith Yandell sold 7,980 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $1,356,440.40. Following the completion of the transaction, the insider now owns 124,221 shares of the company’s stock, valued at $21,115,085.58. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley Tang sold 1,855 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $315,312.90. Following the sale, the director now owns 35,413 shares in the company, valued at approximately $6,019,501.74. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 897,362 shares of company stock worth $151,625,589. Insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Hedge funds have recently added to or reduced their stakes in the company. Rakuten Securities Inc. raised its holdings in shares of DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after buying an additional 130 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 132 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of DoorDash during the second quarter worth approximately $32,000. Quest Partners LLC lifted its holdings in shares of DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 204 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of DoorDash by 136.4% in the 2nd quarter. Fifth Third Bancorp now owns 364 shares of the company’s stock valued at $40,000 after purchasing an additional 210 shares in the last quarter. Institutional investors 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.