DoorDash (NASDAQ:DASH) Hits New 1-Year High Following Analyst Upgrade

DoorDash, Inc. (NASDAQ:DASH) reached a new 52-week high on Tuesday after Loop Capital raised their price target on the stock from $170.00 to $200.00. Loop Capital currently has a buy rating on the stock. DoorDash traded as high as $176.27 and last traded at $175.85, with a volume of 205680 shares. The stock had previously closed at $174.95.

A number of other equities analysts have also issued reports on the company. Roth Mkm upped their target price on DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Piper Sandler raised their price objective on shares of DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Redburn Atlantic began coverage on shares of DoorDash in a research note on Friday, July 26th. They issued a “buy” rating and a $170.00 target price on the stock. The Goldman Sachs Group lifted their price target on DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Morgan Stanley upped their price objective on DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.03.

Insider Buying and Selling

In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 396,152 shares of the company’s stock, valued at approximately $50,651,994.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other DoorDash 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 completion of the sale, the chief financial officer now directly owns 396,152 shares of the company’s stock, valued at approximately $50,651,994.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the transaction, the director now owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 324,539 shares of company stock valued at $46,439,330 over the last quarter. Corporate insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Brighton Jones LLC raised its position in shares of DoorDash by 0.8% during the second quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock worth $1,122,000 after purchasing an additional 82 shares during the period. Everhart Financial Group Inc. boosted its stake in shares of DoorDash by 3.1% during the 2nd quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after buying an additional 99 shares during the period. E Fund Management Co. Ltd. raised its stake in shares of DoorDash by 3.5% during the 2nd quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock worth $355,000 after purchasing an additional 111 shares in the last quarter. SJS Investment Consulting Inc. grew its position in DoorDash by 21.0% in the second quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock worth $73,000 after acquiring an additional 117 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of DoorDash by 39.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock valued at $61,000 after purchasing an additional 119 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Trading Down 0.4 %

The firm has a market cap of $73.01 billion, a price-to-earnings ratio of -390.58, a price-to-earnings-growth ratio of 14.85 and a beta of 1.67. The stock has a fifty day moving average price of $147.14 and a 200 day moving average price of $126.41.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period last year, the business posted ($0.19) EPS. On average, sell-side analysts forecast that DoorDash, Inc. will post 0.24 EPS for the current year.

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.