DoorDash (NASDAQ:DASH) Price Target Raised to $166.00

DoorDash (NASDAQ:DASH) had its price objective boosted by Wells Fargo & Company from $150.00 to $166.00 in a report published on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other brokerages have also issued reports on DASH. Jefferies Financial Group increased their price objective on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Mizuho raised their price objective on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Truist Financial boosted their target price on DoorDash from $180.00 to $217.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target for the company in a report on Wednesday, September 25th. Finally, BMO Capital Markets lifted their price objective on DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.97.

DoorDash Stock Performance

DASH opened at $170.85 on Thursday. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $181.78. The stock has a market cap of $70.97 billion, a price-to-earnings ratio of -379.67, a price-to-earnings-growth ratio of 1.77 and a beta of 1.71. The firm’s fifty day moving average is $173.54 and its 200 day moving average is $145.09.

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

Insider Activity at DoorDash

In other news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the transaction, the director now directly owns 16,176 shares of the company’s stock, valued at approximately $2,722,744.32. This trade represents a 75.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Keith Yandell sold 7,980 shares of DoorDash stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the sale, the insider now directly owns 124,221 shares of the company’s stock, valued at $21,115,085.58. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,019,333 shares of company stock worth $177,556,541 in the last quarter. 7.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its holdings in shares of DoorDash by 34.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 6,275 shares of the company’s stock worth $683,000 after buying an additional 1,611 shares during the period. Quest Partners LLC lifted its stake in DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 204 shares during the period. Envestnet Asset Management Inc. grew its holdings in DoorDash by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 79,476 shares of the company’s stock worth $8,645,000 after acquiring an additional 1,828 shares in the last quarter. Dimensional Fund Advisors LP increased its position in DoorDash by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 919,633 shares of the company’s stock valued at $100,051,000 after purchasing an additional 36,551 shares during the period. Finally, Primecap Management Co. CA increased its position in DoorDash by 3.5% during the 2nd quarter. Primecap Management Co. CA now owns 130,570 shares of the company’s stock valued at $14,203,000 after purchasing an additional 4,400 shares during the period. 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.