BMO Capital Markets Raises DoorDash (NASDAQ:DASH) Price Target to $140.00

DoorDash (NASDAQ:DASH) had its price target upped by BMO Capital Markets from $127.00 to $140.00 in a research report report published on Friday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Wolfe Research began coverage on shares of DoorDash in a research note on Tuesday, July 16th. They set an outperform rating and a $130.00 price objective on the stock. Loop Capital began coverage on shares of DoorDash in a research note on Friday, April 19th. They set a buy rating and a $170.00 price objective on the stock. Redburn Atlantic began coverage on shares of DoorDash in a research note on Friday, July 26th. They set a buy rating and a $170.00 price objective on the stock. Argus began coverage on shares of DoorDash in a research note on Tuesday, July 23rd. They set a hold rating on the stock. Finally, Evercore ISI lifted their price objective on shares of DoorDash from $145.00 to $155.00 and gave the company an outperform rating in a research note on Friday. Eleven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, DoorDash currently has a consensus rating of Moderate Buy and an average target price of $141.93.

DoorDash Stock Up 2.1 %

DASH stock traded up $2.52 during mid-day trading on Friday, reaching $123.82. The company had a trading volume of 4,179,503 shares, compared to its average volume of 4,110,795. The stock has a market capitalization of $50.63 billion, a P/E ratio of -112.54, a P/E/G ratio of 40.25 and a beta of 1.67. DoorDash has a one year low of $69.90 and a one year high of $143.34. The stock’s 50-day simple moving average is $109.52 and its two-hundred day simple moving average is $118.57.

DoorDash (NASDAQ:DASH) last posted its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 6.00%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.44) earnings per share. On average, research analysts forecast that DoorDash will post 0.07 EPS for the current fiscal year.

Insider Activity

In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $113.40, for a total transaction of $5,670,000.00. Following the completion of the sale, the director now directly owns 39,275 shares in the company, valued at approximately $4,453,785. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Keith Yandell sold 12,088 shares of DoorDash stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $111.84, for a total transaction of $1,351,921.92. Following the completion of the sale, the insider now directly owns 161,651 shares in the company, valued at approximately $18,079,047.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $113.40, for a total value of $5,670,000.00. Following the completion of the sale, the director now owns 39,275 shares of the company’s stock, valued at $4,453,785. The disclosure for this sale can be found here. Insiders sold a total of 459,016 shares of company stock worth $50,325,396 in the last three months. 7.92% of the stock is owned by insiders.

Institutional Investors Weigh In On DoorDash

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in DoorDash by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after purchasing an additional 2,259,976 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of DoorDash by 6.4% during the fourth quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock worth $1,263,381,000 after buying an additional 772,977 shares during the last quarter. Capital World Investors lifted its holdings in shares of DoorDash by 0.8% during the first quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock worth $1,304,242,000 after buying an additional 74,504 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of DoorDash by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock worth $753,281,000 after buying an additional 242,956 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of DoorDash by 11,416.7% during the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after buying an additional 3,425,115 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

About DoorDash

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.