DoorDash (NASDAQ:DASH) Hits New 52-Week High – Time to Buy?

Shares of DoorDash, Inc. (NASDAQ:DASH) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $165.75 and last traded at $164.02, with a volume of 539105 shares trading hands. The stock had previously closed at $159.46.

Wall Street Analysts Forecast Growth

DASH has been the subject of several research analyst reports. Wedbush reissued a “neutral” rating and issued a $115.00 price target on shares of DoorDash in a report on Friday, August 2nd. Argus initiated coverage on shares of DoorDash in a report on Tuesday, July 23rd. They issued a “hold” rating for the company. The Goldman Sachs Group boosted their price target on shares of DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Mizuho boosted their price target on shares of DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada boosted their price target on shares of DoorDash from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average price target of $163.12.

DoorDash Trading Up 0.5 %

The company has a market capitalization of $70.54 billion, a price-to-earnings ratio of -379.09, a price-to-earnings-growth ratio of 13.65 and a beta of 1.67. The firm’s 50 day moving average price is $143.32 and its two-hundred day moving average price is $125.15.

DoorDash (NASDAQ:DASH) last announced 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 net margin of 1.69% and a negative return on equity of 2.41%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the business earned ($0.19) EPS. DoorDash’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, equities research analysts predict that DoorDash, Inc. will post 0.23 EPS for the current year.

Insider Activity at DoorDash

In related news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $127.86, for a total value of $895,020.00. Following the transaction, the chief financial officer now owns 396,152 shares in the company, valued at approximately $50,651,994.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were 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 $2,710,274.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $127.86, for a total transaction of $895,020.00. Following the transaction, the chief financial officer now owns 396,152 shares in the company, valued at approximately $50,651,994.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 324,539 shares of company stock worth $46,439,330. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. lifted its holdings in shares of DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after acquiring an additional 1,645,186 shares during the period. Capital World Investors lifted its stake in DoorDash by 0.8% in the 1st quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock valued at $1,304,242,000 after purchasing an additional 74,504 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in DoorDash by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock valued at $753,281,000 after purchasing an additional 242,956 shares during the last quarter. Janus Henderson Group PLC raised its stake 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 valued at $475,837,000 after acquiring an additional 3,425,115 shares during the last quarter. Finally, Dragoneer Investment Group LLC raised its stake in shares of DoorDash by 77.9% during the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after acquiring an additional 1,246,567 shares during the last quarter. Institutional investors and hedge funds 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.