ExodusPoint Capital Management LP, a well-known institutional investor, recently acquired a new position in shares of DoorDash, Inc. during the first quarter of this year. According to the disclosure provided to the Securities and Exchange Commission, ExodusPoint Capital Management LP purchased 40,500 shares of DoorDash stock, with an approximate value of $2,574,000.
DoorDash (NYSE:DASH), the leading food delivery platform in the United States, has been making headlines in the investment community. To gain further insights into this company’s performance and potential opportunities for investors, it is essential to examine its latest stock analysis.
On August 2nd of this year, DoorDash announced its earnings results for the quarter. Unfortunately, the company reported an EPS (Earnings Per Share) of ($0.44), falling short of the consensus estimate by ($0.02). This outcome indicates that DoorDash underperformed compared to analysts’ expectations regarding its profitability during that period.
Additionally, DoorDash revealed negative figures for both return on equity and net margin in these financial results. The negative return on equity amounted to 13.14%, while the negative net margin reached 16.47%. These figures reflect challenges faced by DoorDash in terms of generating profits from its operations and managing its costs effectively.
Despite these setbacks, there was a positive note regarding revenue growth. DoorDash achieved $2.13 billion in revenue for the quarter, surpassing analysts’ estimates which had projected $2.06 billion in revenue for that period. Furthermore, this represented a significant increase of 32.6% compared to the same quarter last year.
As we look ahead, analysts predict that DoorDash will report an EPS of -1.74 for the current fiscal year. This forecast takes into account various factors impacting DoorDash’s financial performance and offers insight into what investors may expect going forward.
It is important for investors to carefully analyze the financial performance and outlook of companies before making investment decisions. In the case of DoorDash, while there are certain challenges in terms of profitability, its revenue growth is worth noting. However, investors should consider other aspects such as market competition, industry trends, and the company’s ability to navigate through obstacles successfully.
This recent acquisition by ExodusPoint Capital Management LP demonstrates their confidence in DoorDash’s potential and highlights the company’s allure to institutional investors. As always, investors should exercise due diligence and consider seeking professional advice before making any investment choices.
In conclusion, DoorDash faces both opportunities and challenges ahead as it strives to strengthen its position in the competitive food delivery industry. By carefully evaluating the latest stock analysis and assessing factors influencing the company’s financial performance, investors can make informed decisions based on thorough analysis and prudent risk management strategies
[bs_slider_forecast ticker=”DASH”]
Hedge Funds, Analysts, and Insider Trading: A Comprehensive Look at DoorDash’s Recent Activity
On September 2, 2023, it was revealed that several hedge funds have been making significant moves with DoorDash’s shares. Elequin Securities LLC entered the scene by acquiring a stake in the company during the fourth quarter of last year, amounting to $25,000. Following suit, Manchester Capital Management LLC also purchased a stake valued at $25,000 during the first quarter of this year.
CI Investments Inc., on the other hand, took a more aggressive approach by increasing its holdings in DoorDash by an impressive 122.4% during the fourth quarter. The investment firm now owns 714 shares of the company’s stock valued at $35,000 after acquiring an additional 393 shares.
EverSource Wealth Advisors LLC did not want to be left behind and decided to boost its holdings in DoorDash by a staggering 887.3% during the same period as CI Investments Inc. EverSource Wealth Advisors LLC now owns a significant amount of shares totaling 1,007 and valued at $49,000 after purchasing an additional 905 shares.
Lastly, Quadrant Capital Group LLC saw an opportunity in DoorDash and increased its holdings by an astonishing 541.4% during the same quarter as CI Investments Inc. and EverSource Wealth Advisors LLC. Quadrant Capital Group LLC now possesses 1,007 shares of DoorDash’s stock valued at $49,000 after acquiring an additional 850 shares.
These recent actions demonstrate the interest and growing confidence that institutional investors have in DoorDash. In fact, approximately 75.84% of the stock is currently owned by institutional investors.
Equity research analysts have also issued various reports regarding DoorDash’s performance recently. Oppenheimer gave glowing reviews in their report dated Thursday, August 3rd as they increased their target price from $85.00 to $110.00 and labelled the stock as “outperform.” Morgan Stanley backed up this sentiment as they raised their price objective from $72.00 to $95.00 and awarded DoorDash an “equal weight” rating.
Not all analysts were as positive, however. Jefferies Financial Group issued a report on Tuesday, July 25th stating that DoorDash was underperforming. They went on to raise their price objective from $55.00 to $65.00 while keeping their rating unchanged.
Wedbush attempted to maintain neutrality by issuing a “neutral” rating and raising their target price from $75.00 to $85.00 in their research note dated Thursday, August 3rd.
Bank of America displayed confidence in the company’s potential by giving it a “buy” rating and increasing their target price from $82.00 to $95.00 on Tuesday, August 1st.
In total, two research analysts have rated the stock as sell, while eleven have stated that it is a hold, and seven believe it is worth buying. The consensus rating for DoorDash’s stock currently stands at “Hold,” with a consensus target price of $87.73 according to data gathered from Bloomberg.
Amidst all this news about hedge funds and ratings reports, some significant insider trading has also taken place within DoorDash. CEO Tony Xu sold a staggering amount of shares—132,300—to be exact—in a transaction that occurred on Monday, June 12th, with an average price of $71.87 per share amounting to a total value of approximately $9,508,401.00 USD.
Similarly, General Counsel Tia Sherringham took part in the selling spree by disposing of 12,516 shares on Monday, August 21st at an average price of $76.01 per share resulting in total proceeds of roughly $951,341.16 USD.
Following this transaction, the general counsel now holds 273,804 shares in the company valued at $20,811,842.04 USD.
In the past ninety days alone, insiders have sold a significant amount of company stock. The total value of shares sold by insiders over this period amounts to an impressive $76,566,890. With this in mind, it becomes clear that insiders hold a substantial 9.59% stake in DoorDash.
On Friday, DASH stock opened at $84.15. DoorDash currently boasts a market capitalization of $33.10 billion with a price-to-earnings (P/E) ratio of -25.73 and a beta of 1.62.
The fifty-day moving average price for DoorDash’s stock stands at $81.09 while the two-hundred-day moving average price is slightly lower at $69.28.
Over the past year, DoorDash has experienced significant fluctuations in its stock price with a low of $41.37 and a high of $92.61.
With such a wide range between its lowest and highest points over the past year, investors will be closely watching how the company performs moving forward.
In conclusion, DoorDash has caught the attention of hedge funds and institutional investors alike with many acquiring large stakes in the company’s stock.
Equity research analysts have issued mixed reports
