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OFFON

DOORDASH, INC.

(DASH)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe BZX - 11/29 03:27:23 pm
182.155 USD   -3.07%
11/26PUMP / DUMP #12 : This week's gainers and losers
11/26INSIDER SELL : Doordash
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11/25DOORDASH : Giving Thanks One Meal at a Time
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DoorDash Shares Down 3%; Analysts Initiate Coverage

01/04/2021 | 02:59pm EST

By Michael Dabaie

DoorDash Inc. shares were down 3% to $138.50 in afternoon trading.

Analysts initiated coverage of the food delivery and logistics company following its recent initial public offering.

J.P. Morgan initiated coverage at Neutral with a $160 price target.

"Overall, we are positive on DASH's value proposition and execution, but we believe the risk/reward in DASH shares is balanced at current levels," the note said.

J.P. Morgan said in its analyst note that the pandemic significantly accelerated consumer adoption of food delivery in 2020, with DoorDash seeing 200% year-over-year growth in total orders and gross order volume and positive adjusted earnings before interest, taxes, depreciation, and amortization.

"COVID-19 restrictions remain in place entering 2021 but should ease in 2Q/3Q, and we recognize that DoorDash will face very difficult comps. Growth will slow, but we also believe food delivery is a forever-changed category and activity will remain elevated as consumers continue to value convenience and selection, and restaurants continue to value the incremental revenue stream," the note said.

UBS initiated shares at Neutral with a $150 price target.

"Our Neutral rating is more a reflection of how future growth/margins appear increasingly priced in at current levels vs. global peers," UBS said in its analyst note.

Mizuho Securities USA initiated the stock at Neutral and price target of $155.

"Although competition is intense, we can expect to see rationalization over the next few years due to consolidation and industry players seeking profitability, if we use China as a proxy. That said, we expect DASH to maintain its dominant market share and estimate [gross order value] to grow nearly 6x over the next four years," Mizuho said.

Needhan initiated coverage at Buy rating with a $200 price target as it sees the company as one of the leaders in the burgeoning last-mile delivery market accelerated by Covid. "We believe DASH's dominance of restaurants gives it both a moat and a differentiated Trojan horse to expand into other categories, which is underappreciated," Needhan said.

The firm said its restaurant channel checks suggest DoorDash is gaining share in New York City.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

01-04-21 1458ET

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Analyst Recommendations on DOORDASH, INC.
More recommendations
Financials (USD)
Sales 2021 4 865 M - -
Net income 2021 -406 M - -
Net cash 2021 2 370 M - -
P/E ratio 2021 -156x
Yield 2021 -
Capitalization 64 467 M 64 467 M -
EV / Sales 2021 12,8x
EV / Sales 2022 10,1x
Nbr of Employees 3 886
Free-Float 90,7%
Chart DOORDASH, INC.
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DoorDash, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends DOORDASH, INC.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 187,92 $
Average target price 237,32 $
Spread / Average Target 26,3%
EPS Revisions
Managers and Directors
Tony Xu Chief Executive Officer & Director
Christopher D. Payne President & Chief Operating Officer
Prabir Adarkar Chief Financial Officer
John L Doerr Independent Non-Executive Director
Alfred Lin Independent Non-Executive Director
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