DoorDash Inc. [NYSE: DASH] loss -2.55% or -1.66 points to close at $63.33 with a heavy trading volume of 6967231 shares. The company report on August 15, 2022 that DoorDash and Grocery Outlet Partner for On-Demand Grocery Delivery.
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New partnership offers convenient same-day grocery delivery from all Grocery Outlet locations across the country.
Grocery Outlet Holding Corp. (NASDAQ: GO) (“Grocery Outlet” or the “Company”), the leading extreme-value retailer in the United States, today announced a partnership with DoorDash (NYSE: DASH), the local commerce platform, to offer on-demand grocery delivery from more than 398 locations across the country including Pennsylvania, New Jersey, Maryland, California, Washington, Oregon, Idaho, and Nevada. Now DoorDash customers can order groceries on-demand from local Grocery Outlet stores via the DoorDash marketplace app or website, accessing all their grocery and household needs with savings top of mind.
It opened the trading session at $64.05, the shares rose to $65.62 and dropped to $62.10, the range by which the price of stock traded the whole day. The daily chart for DASH points out that the company has recorded -34.18% loss over the past six months. However, it is still -11.75% lower than its most recent low trading price.
If we look at the average trading volume of 5.93M shares, DASH reached to a volume of 6967231 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about DoorDash Inc. [DASH]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DASH shares is $117.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DASH stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for DoorDash Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 21, 2022. While these analysts kept the previous recommendation, Raymond James raised their target price to Mkt Perform. The new note on the price target was released on June 06, 2022, representing the official price target for DoorDash Inc. stock. Previously, the target price had yet another raise to $90, while Bernstein analysts kept a Outperform rating on DASH stock.
The Average True Range (ATR) for DoorDash Inc. is set at 4.63, with the Price to Sales ratio for DASH stock in the period of the last 12 months amounting to 4.45. The Price to Book ratio for the last quarter was 3.11, with the Price to Cash per share for the same quarter was set at 10.09. Price to Free Cash Flow for DASH in the course of the last twelve months was 90.92 with Quick ratio for the last quarter at 2.40.
Trading performance analysis for DASH stock
DoorDash Inc. [DASH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.56. With this latest performance, DASH shares dropped by -13.78% in over the last four-week period, additionally sinking by -34.18% over the last 6 months – not to mention a drop of -65.60% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DASH stock in for the last two-week period is set at 37.06, with the RSI for the last a single of trading hit 29.54, and the three-weeks RSI is set at 41.25 for DoorDash Inc. [DASH]. The present Moving Average for the last 50 days of trading for this stock 70.73, while it was recorded at 67.35 for the last single week of trading, and 107.19 for the last 200 days.
DoorDash Inc. [DASH]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and DoorDash Inc. [DASH] shares currently have an operating margin of -9.02 and a Gross Margin at +48.98. DoorDash Inc.’s Net Margin is presently recorded at -9.57.
Return on Equity for this stock declined to -9.99, with Return on Assets sitting at -7.11.
DoorDash Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.40.
An analysis of insider ownership at DoorDash Inc. [DASH]
There are presently around $17,961 million, or 87.90% of DASH stock, in the hands of institutional investors. The top three institutional holders of DASH stocks are: SC US (TTGP), LTD. with ownership of 35,855,453, which is approximately 0% of the company’s market cap and around 0.60% of the total institutional ownership; SB INVESTMENT ADVISERS (UK) LTD, holding 32,260,726 shares of the stock with an approximate value of $2.04 billion in DASH stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.65 billion in DASH stock with ownership of nearly 3.976% of the company’s market capitalization.
Positions in DoorDash Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 282 institutional holders increased their position in DoorDash Inc. [NYSE:DASH] by around 43,121,245 shares. Additionally, 147 investors decreased positions by around 29,381,524 shares, while 43 investors held positions by with 211,102,614 shares. The mentioned changes placed institutional holdings at 283,605,383 shares, according to the latest SEC report filing. DASH stock had 88 new institutional investments in for a total of 8,029,663 shares, while 79 institutional investors sold positions of 9,123,401 shares during the same period.