DoorDash, Inc. (NYSE:DASH – Get Rating)’s stock price shot up 6% during mid-day trading on Friday . The company traded as high as $69.21 and last traded at $68.00. 33,481 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 6,002,512 shares. The stock had previously closed at $64.17.
A number of research firms have recently issued reports on DASH. Truist Financial cut their target price on shares of DoorDash from $200.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, June 2nd. Sanford C. Bernstein initiated coverage on shares of DoorDash in a research note on Monday, May 23rd. They issued a “top pick” rating and a $90.00 target price for the company. The Goldman Sachs Group initiated coverage on shares of DoorDash in a research report on Tuesday, June 21st. They issued a “neutral” rating and a $67.00 price objective for the company. Evercore ISI dropped their price objective on shares of DoorDash from $135.00 to $116.00 and set an “outperform” rating for the company in a research report on Thursday, June 2nd. Finally, Needham & Company LLC dropped their price objective on shares of DoorDash from $140.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, June 27th. Ten equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.19.
The company has a market cap of $23.87 billion, a price-to-earnings ratio of -44.41 and a beta of 1.03. The firm’s fifty day moving average price is $70.29 and its 200-day moving average price is $98.55.
DoorDash (NYSE:DASH – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.10). The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.38 billion. DoorDash had a negative return on equity of 11.29% and a negative net margin of 9.97%. DoorDash’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.34) earnings per share. Sell-side analysts predict that DoorDash, Inc. will post -1.64 EPS for the current fiscal year.
In other DoorDash news, insider Keith Yandell sold 13,394 shares of the business’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $63.57, for a total transaction of $851,456.58. Following the sale, the insider now directly owns 261,667 shares of the company’s stock, valued at approximately $16,634,171.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Tia Sherringham sold 625 shares of the business’s stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $88.00, for a total transaction of $55,000.00. Following the sale, the general counsel now directly owns 163,337 shares in the company, valued at $14,373,656. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 229,733 shares of company stock valued at $16,675,159. Company insiders own 15.54% of the company’s stock.
A number of large investors have recently modified their holdings of the business. IndexIQ Advisors LLC bought a new stake in shares of DoorDash in the 1st quarter valued at about $32,000. Cullen Frost Bankers Inc. bought a new stake in shares of DoorDash in the 4th quarter valued at about $45,000. UMB Bank N A MO bought a new stake in shares of DoorDash in the 4th quarter valued at about $60,000. CWM LLC raised its holdings in shares of DoorDash by 608.1% in the 1st quarter. CWM LLC now owns 439 shares of the company’s stock valued at $51,000 after purchasing an additional 377 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of DoorDash in the 4th quarter valued at about $70,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.
About DoorDash (NYSE:DASH)
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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