DoorDash (NASDAQ:DASH) Price Target Raised to $180.00

DoorDash (NASDAQ:DASH) had its price objective hoisted by KeyCorp from $177.00 to $180.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the company. UBS Group lifted their target price on DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Mizuho boosted their target price on shares of DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Wells Fargo & Company raised their price target on shares of DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, October 4th. Wolfe Research started coverage on DoorDash in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $130.00 price objective on the stock. Finally, DA Davidson raised their target price on DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research report 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.12.

DoorDash Stock Performance

NASDAQ:DASH opened at $155.66 on Thursday. DoorDash has a 52 week low of $83.58 and a 52 week high of $165.07. The firm has a 50-day moving average price of $140.40 and a two-hundred day moving average price of $124.21. The firm has a market cap of $64.06 billion, a price-to-earnings ratio of -345.91, a price-to-earnings-growth ratio of 331.02 and a beta of 1.67.

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

Insider Buying and Selling at DoorDash

In other news, Director Shona L. Brown sold 5,005 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $120.00, for a total value of $600,600.00. Following the transaction, the director now owns 65,186 shares of the company’s stock, valued at $7,822,320. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Shona L. Brown sold 5,005 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the completion of the transaction, the director now directly owns 65,186 shares in the company, valued at approximately $7,822,320. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction dated 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 a total of 383,710 shares of company stock worth $53,725,640 over the last three months. 7.92% of the stock is owned by insiders.

Institutional Investors Weigh In On DoorDash

A number of institutional investors have recently made changes to their positions in DASH. Wealth Enhancement Advisory Services LLC lifted its stake in DoorDash by 26.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,802 shares of the company’s stock worth $1,488,000 after purchasing an additional 2,237 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in DoorDash by 38.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 271,024 shares of the company’s stock valued at $37,325,000 after acquiring an additional 75,272 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in DoorDash by 7.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 689,785 shares of the company’s stock valued at $94,997,000 after acquiring an additional 47,725 shares during the period. Norden Group LLC bought a new position in DoorDash during the 1st quarter worth approximately $1,135,000. Finally, First Trust Direct Indexing L.P. increased its stake in DoorDash by 10.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 4,780 shares of the company’s stock worth $658,000 after purchasing an additional 437 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.