DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Bank of America Analyst Says

DoorDash (NASDAQ:DASH) had its price target lifted by investment analysts at Bank of America from $172.00 to $205.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 15.38% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. Royal Bank of Canada raised their target price on DoorDash from $175.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Jefferies Financial Group boosted 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. Wells Fargo & Company increased their target price on shares of DoorDash from $150.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Barclays boosted their price target on shares of DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Morgan Stanley upped their price objective on shares of DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $176.97.

DoorDash Stock Down 0.2 %

NASDAQ DASH opened at $177.68 on Thursday. The business’s fifty day simple moving average is $173.66 and its 200-day simple moving average is $147.42. The firm has a market cap of $73.81 billion, a PE ratio of -394.84, a P/E/G ratio of 1.88 and a beta of 1.71. DoorDash has a 52 week low of $99.32 and a 52 week high of $181.78.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating 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%. DoorDash’s revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.19) EPS. Research analysts expect that DoorDash will post 0.27 EPS for the current year.

Insider Activity

In other news, Director Stanley Tang sold 1,855 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $315,312.90. Following the completion of the sale, the director now directly owns 35,413 shares of the company’s stock, valued at approximately $6,019,501.74. This represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $168.32, for a total value of $8,416,000.00. Following the completion of the transaction, the director now owns 16,176 shares in the company, valued at $2,722,744.32. This trade represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,019,333 shares of company stock valued at $177,556,541. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DASH. Baillie Gifford & Co. grew its position in DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares during the last quarter. State Street Corp boosted its holdings in shares of DoorDash by 3.8% in the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after acquiring an additional 272,659 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of DoorDash by 14.5% in the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after acquiring an additional 700,465 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of DoorDash by 6.4% during the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after acquiring an additional 267,855 shares during the period. Finally, Franklin Resources Inc. lifted its position in DoorDash by 15.2% in the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after purchasing an additional 501,905 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.