DoorDash, Inc. (NASDAQ:DASH – Get Free Report) hit a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $165.07 and last traded at $160.00, with a volume of 1383663 shares traded. The stock had previously closed at $155.25.
The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.19) earnings per share.
Wall Street Analyst Weigh In
A number of analysts recently commented on DASH shares. Piper Sandler upped their price objective on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday. Mizuho upped their price objective on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Truist Financial upped their price objective on DoorDash from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Roth Mkm upped their price objective on DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Finally, Benchmark upped their price objective on DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $155.91.
Insider Activity at DoorDash
In other news, Director Shona L. Brown sold 5,005 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the completion of the sale, the director now directly owns 65,186 shares of the company’s stock, valued at $7,822,320. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $149.83, for a total value of $7,491,500.00. Following the completion of the sale, the director now directly owns 18,089 shares of the company’s stock, valued at $2,710,274.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Shona L. Brown sold 5,005 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $120.00, for a total value of $600,600.00. Following the completion of the sale, the director now directly owns 65,186 shares of the company’s stock, valued at $7,822,320. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 383,710 shares of company stock valued at $53,725,640. Insiders own 7.92% of the company’s stock.
Institutional Investors Weigh In On DoorDash
A number of institutional investors and hedge funds have recently modified their holdings of the business. Baillie Gifford & Co. lifted its stake in shares of DoorDash by 0.8% during the 2nd quarter. Baillie Gifford & Co. now owns 12,497,488 shares of the company’s stock worth $1,359,477,000 after acquiring an additional 94,241 shares during the last quarter. Capital World Investors lifted its stake in shares of DoorDash by 0.8% during the 1st quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock worth $1,304,242,000 after acquiring an additional 74,504 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of DoorDash by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock worth $753,281,000 after acquiring an additional 242,956 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of DoorDash by 11,416.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after acquiring an additional 3,425,115 shares during the last quarter. Finally, Dragoneer Investment Group LLC lifted its stake in shares of DoorDash by 77.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after acquiring an additional 1,246,567 shares during the last quarter. 90.64% of the stock is owned by institutional investors.
DoorDash Trading Up 0.2 %
The stock has a market capitalization of $64.04 billion, a P/E ratio of -161.09, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70. The stock has a 50 day moving average of $139.31 and a 200-day moving average of $123.83.
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.
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