Top investors say DoorDash Inc. (DASH) ticks everything they need

DoorDash Inc. (NYSE: DASH) stock fell -1.75% on Tuesday to $59.53 against a previous-day closing price of $60.59. With 2.32 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.18 million shares. During the session, the Internet Content & Information company that operates in wider Communication Services sector, reached to the highest price of $61.18 whereas the lowest price it dropped to was $59.23. The 52-week range on DASH shows that it touched its highest point at $130.20 and its lowest point at $41.37 during that stretch. It currently has a 1-year price target of $72.10.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of DASH was up-trending over the past week, with a rise of 9.29%, but this was up by 12.49% over a month. Three-month performance surged to 31.62% while six-month performance fell -17.04%. The stock lost -49.10% in the past year, while it has gained 21.94% so far this year. A look at the trailing 12-month EPS for DASH yields -2.42 with Next year EPS estimates of -2.37. For the next quarter, that number is -0.69. This implies an EPS growth rate of 4.00% for this year and 10.60% for next year.

Float and Shares Shorts:

At present, 384.76 million DASH shares are outstanding with a float of 357.94 million shares on hand for trading. On Oct 13, 2022, short shares totaled 22.62 million, which was 5.86% higher than short shares on Sep 14, 2022. In addition to Mr. Tony Xu as the firm’s Co-Founder, CEO & Chair, Mr. Christopher D. Payne serves as its Pres & COO.


Institutional Ownership:

Through their ownership of 87.42% of DASH’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 29.81% of DASH, in contrast to 27.63% held by mutual funds. Shares owned by individuals account for 24.09%. As the largest shareholder in DASH with 6.81% of the stake, The Vanguard Group, Inc. holds 24,505,024 shares worth 24,505,024. A second-largest stockholder of DASH, Morgan Stanley Investment Managem, holds 23,294,937 shares, controlling over 6.47% of the firm’s shares. T. Rowe Price Associates, Inc. is the third largest shareholder in DASH, holding 12,874,639 shares or 3.58% stake. With a 3.99% stake in DASH, the American Funds Growth Fund of Ame is the largest stakeholder. A total of 14,381,650 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.43% of DASH stock, is the second-largest Mutual Fund holder. It holds 8,748,963 shares valued at 427.12 million. Vanguard Mid Cap Index Fund holds 1.86% of the stake in DASH, owning 6,698,305 shares worth 327.01 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DASH since 32 analysts follow the stock currently. There are 15 analysts who recommend BUY ratings, while 2 suggest SELL ratings. Of the remaining analysts, 14 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With DASH analysts setting a high price target of $101.00 and a low target of $37.00, the average target price over the next 12 months is $70.40. Based on these targets, DASH could surge 69.66% to reach the target high and fall by -37.85% to reach the target low. Reaching the average price target will result in a growth of 18.26% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. DASH will report FY 2022 earnings on 02/15/2024. Analysts have provided yearly estimates in a range of -$2.49 being high and -$2.79 being low. For DASH, this leads to a yearly average estimate of -$2.65. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. DoorDash Inc. surprised analysts by -$0.18 when it reported -$0.77 EPS against a consensus estimate of -$0.59. The surprise factor in the prior quarter was -$0.51. Based on analyst estimates, the high estimate for the next quarter is -$0.01 and the low estimate is -$0.80. The average estimate for the next quarter is thus -$0.62.

Summary of Insider Activity:

Insiders traded DASH stock several times over the past three months with 4 Buys and 31 Sells. In these transactions, 155,244 shares were bought while 259,329 shares were sold. The number of buy transactions has increased to 61 while that of sell transactions has risen to 309 over the past year. The total number of shares bought during that period was 11,553,990 while 11,969,764 shares were sold.

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