DoorDash (NASDAQ:DASH) Price Target Increased to $145.00 by Analysts at JMP Securities

DoorDash (NASDAQ:DASH) had its price objective lifted by JMP Securities from $140.00 to $145.00 in a report issued on Friday, Benzinga reports. The firm currently has a market outperform rating on the stock.

A number of other analysts have also recently issued reports on the company. Royal Bank of Canada cut their price objective on DoorDash from $175.00 to $165.00 and set an outperform rating for the company in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on DoorDash from $140.00 to $155.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Oppenheimer increased their target price on DoorDash from $125.00 to $145.00 and gave the stock an outperform rating in a report on Friday. Moffett Nathanson raised DoorDash from a neutral rating to a buy rating and increased their price target for the company from $118.00 to $164.00 in a research report on Thursday, April 11th. Finally, Evercore ISI raised their price target on DoorDash from $145.00 to $155.00 and gave the stock an outperform rating in a report on Friday. Eleven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $141.93.

DoorDash Stock Performance

Shares of DoorDash stock traded up $2.21 during midday trading on Friday, reaching $123.51. 3,575,890 shares of the company’s stock traded hands, compared to its average volume of 4,106,771. The company has a market cap of $50.50 billion, a price-to-earnings ratio of -112.54, a price-to-earnings-growth ratio of 40.25 and a beta of 1.67. The company’s 50 day simple moving average is $109.52 and its 200 day simple moving average is $118.57. DoorDash has a 52 week low of $69.90 and a 52 week high of $143.34.

DoorDash (NASDAQ:DASH) last posted its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 6.00% and a negative net margin of 4.24%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the company posted ($0.44) EPS. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, equities research analysts predict that DoorDash will post 0.07 earnings per share for the current year.

Insider Transactions at DoorDash

In related news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total value of $746,480.00. Following the sale, the chief financial officer now directly owns 417,223 shares in the company, valued at $44,492,660.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $113.40, for a total value of $5,670,000.00. Following the completion of the sale, the director now owns 39,275 shares of the company’s stock, valued at $4,453,785. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $106.64, for a total value of $746,480.00. Following the transaction, the chief financial officer now owns 417,223 shares of the company’s stock, valued at approximately $44,492,660.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 459,016 shares of company stock valued at $50,325,396. 7.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Institutional investors have recently bought and sold shares of the business. EFG Asset Management Americas Corp. lifted its stake in shares of DoorDash by 148.1% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 13,119 shares of the company’s stock worth $1,427,000 after purchasing an additional 7,831 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in DoorDash by 207.0% in the second quarter. Illinois Municipal Retirement Fund now owns 132,185 shares of the company’s stock valued at $14,379,000 after buying an additional 89,123 shares during the last quarter. Candriam S.C.A. boosted its position in DoorDash by 4.9% in the 2nd quarter. Candriam S.C.A. now owns 13,912 shares of the company’s stock valued at $1,513,000 after buying an additional 647 shares during the period. Private Advisor Group LLC raised its stake in DoorDash by 15.1% in the second quarter. Private Advisor Group LLC now owns 17,062 shares of the company’s stock valued at $1,856,000 after buying an additional 2,232 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in DoorDash by 10.0% during the 2nd quarter. Arizona State Retirement System now owns 81,919 shares of the company’s stock worth $8,911,000 after buying an additional 7,444 shares during the last quarter. Hedge funds and other institutional investors 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.