Bank of America Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its target price lifted by Bank of America from $168.00 to $172.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the company. Truist Financial lifted their price objective on DoorDash from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Thursday, September 19th. BMO Capital Markets raised their price target on shares of DoorDash from $127.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Piper Sandler reiterated a “neutral” rating and issued a $125.00 price target (up from $115.00) on shares of DoorDash in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of DoorDash in a report on Monday, October 7th. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $161.94.

DoorDash Price Performance

DASH stock traded up $0.06 during midday trading on Thursday, reaching $156.76. 1,495,366 shares of the company were exchanged, compared to its average volume of 3,832,189. DoorDash has a one year low of $83.58 and a one year high of $165.07. The firm has a market capitalization of $64.51 billion, a price-to-earnings ratio of -348.42, a price-to-earnings-growth ratio of 331.02 and a beta of 1.70. The business has a 50-day moving average price of $139.86 and a two-hundred day moving average price of $124.05.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative return on equity of 2.46% and a negative net margin of 1.69%. The company’s revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.19) earnings per share. As a group, analysts anticipate that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $149.83, for a total value of $7,491,500.00. Following the completion of the transaction, the director now owns 18,089 shares of the company’s stock, valued at $2,710,274.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other DoorDash news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total transaction of $6,685,709.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the transaction, the director now owns 18,089 shares in the company, valued at approximately $2,710,274.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 383,710 shares of company stock valued at $53,725,640 in the last three months. 7.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its position in DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares in the last quarter. Headlands Technologies LLC purchased a new stake in DoorDash in the 2nd quarter valued at approximately $32,000. Versant Capital Management Inc grew its holdings in DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares during the last quarter. ORG Partners LLC raised its holdings in shares of DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after acquiring an additional 253 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in shares of DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.