DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Citigroup Analyst Says

DoorDash (NASDAQ:DASH) had its price objective raised by Citigroup from $155.00 to $211.00 in a report published on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley boosted their price target on shares of DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Susquehanna upped their price target on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their price objective on DoorDash from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research note on Thursday, September 19th. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $166.06.

DoorDash Stock Performance

DASH opened at $178.44 on Wednesday. The business’s 50 day moving average price is $155.55 and its 200 day moving average price is $129.97. The stock has a market capitalization of $74.12 billion, a PE ratio of -395.69, a P/E/G ratio of 13.77 and a beta of 1.67. DoorDash has a one year low of $92.58 and a one year high of $181.30.

DoorDash (NASDAQ:DASH) last released its quarterly 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 business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company’s revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.19) EPS. As a group, equities research analysts forecast that DoorDash will post 0.26 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, insider Keith Yandell sold 5,509 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.24, for a total value of $970,906.16. Following the completion of the transaction, the insider now owns 118,712 shares in the company, valued at $20,921,802.88. This represents a 4.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Prabir Adarkar sold 19,898 shares of DoorDash stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $3,382,262.04. Following the sale, the chief operating officer now owns 943,196 shares in the company, valued at $160,324,456.08. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 553,262 shares of company stock valued at $85,515,902 in the last ninety days. Insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several large investors have recently modified their holdings of DASH. Lazard Asset Management LLC raised its position in DoorDash by 18,975.0% in the 1st quarter. Lazard Asset Management LLC now owns 2,289 shares of the company’s stock valued at $314,000 after purchasing an additional 2,277 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of DoorDash by 658.5% in the first quarter. Tidal Investments LLC now owns 35,045 shares of the company’s stock valued at $4,826,000 after buying an additional 30,425 shares during the last quarter. Comerica Bank raised its holdings in shares of DoorDash by 8.9% in the first quarter. Comerica Bank now owns 20,159 shares of the company’s stock valued at $2,776,000 after buying an additional 1,650 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of DoorDash during the first quarter worth about $105,000. Finally, Swedbank AB purchased a new position in shares of DoorDash during the first quarter worth about $21,243,000. 90.64% of the stock is owned by institutional investors and hedge funds.

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.