JMP Securities Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its price target lifted by equities research analysts at JMP Securities from $160.00 to $190.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ target price points to a potential upside of 22.06% from the stock’s current price.

Several other analysts have also commented on DASH. Piper Sandler increased their price target on shares of DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday. Oppenheimer raised their price target on DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Wells Fargo & Company boosted their price objective on shares of DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, October 4th. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price for the company in a report on Wednesday, September 25th. Finally, KeyCorp increased their price target on DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $163.12.

DoorDash Price Performance

Shares of DASH stock opened at $155.66 on Thursday. DoorDash has a 1-year low of $83.58 and a 1-year high of $165.07. The firm 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. The business’s fifty day moving average price is $140.40 and its 200 day moving average price is $124.21.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.46%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period last year, the firm earned ($0.19) EPS. Equities research analysts expect that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, Director Shona L. Brown sold 5,005 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the sale, the director now directly owns 65,186 shares in the company, valued at approximately $7,822,320. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other DoorDash news, Director Shona L. Brown sold 5,005 shares of DoorDash 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 owns 65,186 shares of the company’s stock, valued at $7,822,320. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tony Xu sold 81,249 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The disclosure for this sale can be found here. Insiders have sold 383,710 shares of company stock valued at $53,725,640 over the last quarter. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of DoorDash by 0.8% in the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock worth $1,122,000 after acquiring an additional 82 shares during the last quarter. Everhart Financial Group Inc. raised its stake in shares of DoorDash by 3.1% in the 2nd quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after acquiring an additional 99 shares in the last quarter. E Fund Management Co. Ltd. raised its position in shares of DoorDash by 3.5% in the second quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock valued at $355,000 after purchasing an additional 111 shares during the period. SJS Investment Consulting Inc. raised its holdings in DoorDash by 21.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock worth $73,000 after acquiring an additional 117 shares during the period. Finally, Meeder Advisory Services Inc. increased its stake in shares of DoorDash by 4.4% in the first quarter. Meeder Advisory Services Inc. now owns 3,006 shares of the company’s stock worth $414,000 after purchasing an additional 126 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

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.