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

DoorDash (NASDAQ:DASH) had its target price raised by equities researchers at DA Davidson from $119.00 to $150.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s price target would indicate a potential downside of 3.64% from the company’s current price.

Several other research firms also recently commented on DASH. Keefe, Bruyette & Woods raised DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective on the stock in a research report on Wednesday, September 25th. Wedbush restated a “neutral” rating and set a $115.00 price target on shares of DoorDash in a report on Friday, August 2nd. Roth Mkm boosted their price objective on DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. JMP Securities boosted their price target on shares of DoorDash from $145.00 to $160.00 and gave the stock a “market outperform” rating in a report on Monday, September 30th. Finally, Mizuho raised their price objective on shares of DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $163.12.

DoorDash Trading Down 0.7 %

DASH stock opened at $155.66 on Thursday. The business’s fifty day moving average price is $140.40 and its 200 day moving average price is $124.21. DoorDash has a 12-month low of $83.58 and a 12-month high of $165.07. The company has a market capitalization of $64.06 billion, a PE ratio of -345.91, a P/E/G ratio of 331.02 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued 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 business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.46%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) earnings per share. Research analysts predict that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, Director Shona L. Brown sold 5,005 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $120.00, for a total transaction of $600,600.00. Following the sale, the director now directly owns 65,186 shares in the company, valued at approximately $7,822,320. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Tony Xu sold 54,166 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total transaction of $6,685,709.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shona L. Brown sold 5,005 shares of DoorDash stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $120.00, for a total transaction of $600,600.00. Following the sale, the director now owns 65,186 shares of the company’s stock, valued at approximately $7,822,320. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 383,710 shares of company stock valued at $53,725,640 in the last ninety days. Corporate insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. boosted its position in shares of DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 132 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of DoorDash during the 2nd quarter valued at $32,000. Versant Capital Management Inc increased its holdings in shares of DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after buying an additional 259 shares during the last quarter. ORG Partners LLC boosted its holdings in DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 253 shares during the last quarter. Finally, Quest Partners LLC increased its stake in DoorDash by 146.8% during 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 last quarter. Hedge funds and other institutional investors 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.