DoorDash Inc. [NYSE: DASH] gained 2.92% or 1.77 points to close at $62.39 with a heavy trading volume of 3549366 shares. The company report on April 6, 2023 that DoorDash to Announce First Quarter 2023 Results on May 4, 2023.
DoorDash, Inc. (NYSE: DASH) today announced the company’s first quarter 2023 financial results will be released after market close on Thursday, May 4, 2023. The company’s earnings press release and shareholder letter will be made available on the DoorDash Investor Relations website at ir.doordash.com.
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DoorDash will host a conference call to discuss its results at 2 p.m. PT / 5 p.m. ET the same day. Interested parties may register for and access the live webcast of the call at the DoorDash Investor Relations website at ir.doordash.com. Following the call, a replay will be available at the same website.
It opened the trading session at $61.50, the shares rose to $62.43 and dropped to $60.83, the range by which the price of stock traded the whole day. The daily chart for DASH points out that the company has recorded 44.89% gains over the past six months. However, it is still -50.81% lower than its most recent low trading price.
If we look at the average trading volume of 4.71M shares, DASH reached to a volume of 3549366 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 $76.81 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 2.30. 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.
DA Davidson have made an estimate for DoorDash Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 21, 2023. While these analysts kept the previous recommendation, MoffettNathanson raised their target price to Outperform. The new note on the price target was released on January 30, 2023, representing the official price target for DoorDash Inc. stock. Previously, the target price had yet another raise to $37, while Jefferies analysts kept a Underperform rating on DASH stock. On January 09, 2023, analysts decreased their price target for DASH shares from 227 to 40.
The Average True Range (ATR) for DoorDash Inc. is set at 2.58, with the Price to Sales ratio for DASH stock in the period of the last 12 months amounting to 3.70. The Price to Book ratio for the last quarter was 3.58, with the Price to Cash per share for the same quarter was set at 9.02. Price to Free Cash Flow for DASH in the course of the last twelve months was 127.51 with Quick ratio for the last quarter at 1.90.
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 -0.84. With this latest performance, DASH shares gained by 4.61% in over the last four-week period, additionally plugging by 44.89% over the last 6 months – not to mention a drop of -42.92% 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 55.41, with the RSI for the last a single of trading hit 56.23, and the three-weeks RSI is set at 54.72 for DoorDash Inc. [DASH]. The present Moving Average for the last 50 days of trading for this stock 59.53, while it was recorded at 61.26 for the last single week of trading, and 58.90 for the last 200 days.
DoorDash Inc. [DASH]: A deeper dive into fundamental analysis
DoorDash Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 1.90.
An analysis of insider ownership at DoorDash Inc. [DASH]
There are presently around $18,481 million, or 86.20% 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 35,850,212, which is approximately -0.015% of the company’s market cap and around 0.50% of the total institutional ownership; MORGAN STANLEY, holding 29,086,197 shares of the stock with an approximate value of $1.76 billion in DASH stocks shares; and VANGUARD GROUP INC, currently with $1.55 billion in DASH stock with ownership of nearly 2.378% of the company’s market capitalization.
Positions in DoorDash Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 248 institutional holders increased their position in DoorDash Inc. [NYSE:DASH] by around 45,597,792 shares. Additionally, 167 investors decreased positions by around 22,874,641 shares, while 45 investors held positions by with 236,399,920 shares. The mentioned changes placed institutional holdings at 304,872,353 shares, according to the latest SEC report filing. DASH stock had 69 new institutional investments in for a total of 7,957,822 shares, while 53 institutional investors sold positions of 6,029,746 shares during the same period.