DoorDash (NASDAQ:DASH) Given New $163.00 Price Target at Barclays

DoorDash (NASDAQ:DASH) had its price target raised by Barclays from $120.00 to $163.00 in a report issued on Friday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms have also recently issued reports on DASH. Needham & Company LLC upped their price objective on DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada upped their price objective on DoorDash from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Raymond James began coverage on DoorDash in a research report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price objective for the company. Keefe, Bruyette & Woods raised DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective for the company in a research report on Wednesday, September 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of DoorDash in a research report on Monday, October 7th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.12.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $157.24 on Friday. The stock’s 50-day moving average is $140.40 and its two-hundred day moving average is $124.10. DoorDash has a 1-year low of $83.58 and a 1-year high of $165.07. The company has a market cap of $64.71 billion, a price-to-earnings ratio of -349.42, a price-to-earnings-growth ratio of 359.82 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the business earned ($0.19) EPS. DoorDash’s revenue was up 25.0% on a year-over-year basis. Equities research analysts anticipate that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $127.86, for a total value of $895,020.00. Following the sale, the chief financial officer now directly owns 396,152 shares in the company, valued at $50,651,994.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $127.86, for a total value of $895,020.00. Following the completion of the transaction, the chief financial officer now owns 396,152 shares of the company’s stock, valued at $50,651,994.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 324,539 shares of company stock worth $46,439,330 over the last three months. 7.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Several institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in DoorDash by 0.8% in the second quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock valued at $1,122,000 after purchasing an additional 82 shares during the last quarter. Everhart Financial Group Inc. increased its stake in DoorDash by 3.1% in the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after purchasing an additional 99 shares during the last quarter. E Fund Management Co. Ltd. increased its stake in 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 last quarter. SJS Investment Consulting Inc. increased its stake in DoorDash by 21.0% during the second 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 last quarter. Finally, Venturi Wealth Management LLC increased its stake in DoorDash by 39.0% during the third quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock worth $61,000 after acquiring an additional 119 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.