DoorDash’s (DASH) Overweight Rating Reaffirmed at Cantor Fitzgerald

DoorDash (NASDAQ:DASH)‘s stock had its “overweight” rating reissued by analysts at Cantor Fitzgerald in a report released on Tuesday,Benzinga reports. They currently have a $200.00 price objective on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 10.45% from the stock’s current price.

DASH has been the topic of several other research reports. UBS Group increased their price target on DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, October 18th. JMP Securities restated a “market outperform” rating and issued a $200.00 target price on shares of DoorDash in a report on Thursday, January 2nd. Morgan Stanley upped their price target on shares of DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Loop Capital increased their price objective on shares of DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Evercore ISI boosted their target price on DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average price target of $178.18.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded down $1.40 on Tuesday, reaching $181.08. The company’s stock had a trading volume of 313,933 shares, compared to its average volume of 2,448,109. The company has a 50-day simple moving average of $174.32 and a 200 day simple moving average of $149.30. The company has a market cap of $75.22 billion, a P/E ratio of -403.22, a PEG ratio of 1.85 and a beta of 1.71. DoorDash has a 52-week low of $99.32 and a 52-week high of $184.26.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm’s revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.19) earnings per share. On average, equities research analysts forecast that DoorDash will post 0.29 EPS for the current fiscal year.

Insider Activity

In other DoorDash news, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $255,375. The trade was a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Prabir Adarkar sold 20,000 shares of DoorDash stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $180.83, for a total value of $3,616,600.00. Following the transaction, the chief operating officer now owns 925,222 shares in the company, valued at approximately $167,307,894.26. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,040,758 shares of company stock worth $181,434,201 over the last three months. Insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Hedge funds and other institutional investors have recently modified their holdings of the business. Rakuten Securities Inc. lifted its position in DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after buying an additional 130 shares during the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of DoorDash in the 4th quarter worth approximately $34,000. ORG Wealth Partners LLC acquired a new position in shares of DoorDash in the 4th quarter worth approximately $36,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of DoorDash by 34.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after buying an additional 69 shares during the period. Finally, Hollencrest Capital Management acquired a new position in DoorDash in the 3rd quarter valued at about $54,000. 90.64% of the stock is owned by institutional investors and hedge funds.

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.