Royal Bank of Canada Boosts DoorDash (NASDAQ:DASH) Price Target to $175.00

DoorDash (NASDAQ:DASH) had its price target increased by Royal Bank of Canada from $165.00 to $175.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 12.40% from the stock’s current price.

A number of other brokerages have also recently weighed in on DASH. JPMorgan Chase & Co. lifted their price target on shares of DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday. Bank of America upped their price target on shares of DoorDash from $168.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday. Susquehanna increased their price target on DoorDash from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, August 5th. Barclays boosted their price objective on DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Truist Financial increased their target price on DoorDash from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.42.

DoorDash Stock Up 0.3 %

Shares of NASDAQ DASH traded up $0.44 during trading on Thursday, hitting $155.69. 6,314,177 shares of the company traded hands, compared to its average volume of 3,835,436. The firm has a market capitalization of $64.07 billion, a P/E ratio of -153.26, a P/E/G ratio of 425.82 and a beta of 1.70. The company has a 50-day moving average price of $139.31 and a 200-day moving average price of $123.83. DoorDash has a 1 year low of $72.65 and a 1 year high of $165.07.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm’s revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.19) earnings per share. Research analysts predict that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total value of $6,685,709.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total value of $6,685,709.38. The disclosure for this sale can be found here. Insiders sold 383,710 shares of company stock valued at $53,725,640 in the last three months. Corporate insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Marshall Wace LLP increased its position in DoorDash by 930.5% during the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock worth $73,534,000 after acquiring an additional 610,388 shares during the period. Forsta AP Fonden increased its holdings in shares of DoorDash by 18.6% during the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after purchasing an additional 10,100 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of DoorDash during the first quarter valued at about $2,969,000. CWM LLC lifted its stake in shares of DoorDash by 97.1% in the third quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after buying an additional 5,273 shares during the period. Finally, Paragon Capital Management Inc. acquired a new stake in DoorDash during the second quarter worth about $1,309,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Company Profile

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.