DoorDash (NYSE:DASH) Rating Increased to Outperform at Evercore ISI

Evercore ISI upgraded shares of DoorDash (NYSE:DASH) from an in-line rating to an outperform rating in a research note released on Tuesday, Price Targets.com reports. Evercore ISI currently has $256.00 price objective on the stock.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. dropped their price target on DoorDash from $220.00 to $175.00 and set a neutral rating on the stock in a research report on Wednesday, December 15th. UBS Group began coverage on DoorDash in a research report on Thursday, December 2nd. They issued a neutral rating and a $200.00 target price on the stock. Needham & Company LLC lifted their target price on DoorDash from $240.00 to $270.00 and gave the company a buy rating in a research report on Wednesday, November 10th. Piper Sandler lifted their target price on DoorDash from $221.00 to $227.00 and gave the company a neutral rating in a research report on Wednesday, November 10th. Finally, Mizuho lifted their target price on DoorDash from $175.00 to $205.00 and gave the company a neutral rating in a research report on Wednesday, November 10th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Buy and an average price target of $228.68.

NYSE:DASH opened at $131.53 on Tuesday. DoorDash has a 1-year low of $110.13 and a 1-year high of $257.25. The business’s 50-day moving average price is $169.39 and its two-hundred day moving average price is $186.09.

DoorDash (NYSE:DASH) last released its earnings results on Tuesday, November 9th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.03). The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Research analysts anticipate that DoorDash will post -1.18 EPS for the current year.

In other DoorDash news, CEO Tony Xu sold 80,000 shares of DoorDash stock in a transaction on Tuesday, November 16th. The stock was sold at an average price of $237.50, for a total value of $19,000,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Gordon S. Lee sold 5,709 shares of DoorDash stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $200.93, for a total value of $1,147,109.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,677,286 shares of company stock valued at $2,152,024,064. 15.54% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Danda Trouve Investment Management Inc. bought a new stake in DoorDash during the 3rd quarter worth $26,000. Clearstead Advisors LLC grew its position in DoorDash by 3,850.0% during the 3rd quarter. Clearstead Advisors LLC now owns 158 shares of the company’s stock worth $33,000 after acquiring an additional 154 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in DoorDash during the 3rd quarter worth $41,000. IFP Advisors Inc bought a new stake in DoorDash during the 3rd quarter worth $48,000. Finally, US Bancorp DE grew its position in DoorDash by 4,016.7% during the 3rd quarter. US Bancorp DE now owns 247 shares of the company’s stock worth $52,000 after acquiring an additional 241 shares during the last quarter. 75.11% of the stock is owned by institutional investors.

About DoorDash

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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Analyst Recommendations for DoorDash (NYSE:DASH)

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