DoorDash (NASDAQ:DASH) Price Target Raised to $160.00

DoorDash (NASDAQ:DASH) had its price target lifted by Piper Sandler from $125.00 to $160.00 in a research note released on Thursday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

DASH has been the topic of a number of other research reports. Wells Fargo & Company raised their price objective on shares of DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, October 4th. KeyCorp raised shares of DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 target price on the stock in a research note on Wednesday, September 25th. Argus initiated coverage on DoorDash in a research report on Tuesday, July 23rd. They set a “hold” rating for the company. Susquehanna increased their price objective on shares of DoorDash from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, August 5th. Finally, Roth Mkm lifted their target price on DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $160.73.

DoorDash Stock Performance

Shares of DASH traded down $0.27 during trading hours on Thursday, hitting $156.43. The company had a trading volume of 1,042,214 shares, compared to its average volume of 3,829,445. The stock has a market capitalization of $64.38 billion, a price-to-earnings ratio of -341.93, a P/E/G ratio of 331.02 and a beta of 1.70. DoorDash has a 52-week low of $83.58 and a 52-week high of $165.07. The firm has a fifty day moving average price of $139.86 and a 200-day moving average price of $124.05.

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

Insider Transactions at DoorDash

In related news, COO Prabir Adarkar sold 32,124 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total value of $4,754,030.76. Following the completion of the sale, the chief operating officer now owns 963,094 shares of the company’s stock, valued at approximately $142,528,281.06. This trade represents 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 other DoorDash news, CEO Tony Xu sold 54,166 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total transaction of $6,685,709.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Prabir Adarkar sold 32,124 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the transaction, the chief operating officer now directly owns 963,094 shares of the company’s stock, valued at $142,528,281.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 383,710 shares of company stock valued at $53,725,640 over the last 90 days. 7.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Several institutional investors and hedge funds have recently modified their holdings of DASH. Marshall Wace LLP grew its holdings in shares of DoorDash by 930.5% in the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after purchasing an additional 610,388 shares in the last quarter. Forsta AP Fonden raised its stake in DoorDash by 18.6% in the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after buying an additional 10,100 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in DoorDash during the first quarter worth approximately $2,969,000. CWM LLC lifted its position in shares of DoorDash by 97.1% during the 3rd quarter. CWM LLC now owns 10,705 shares of the company’s stock worth $1,528,000 after buying an additional 5,273 shares during the last quarter. Finally, Paragon Capital Management Inc. acquired a new position in DoorDash in the second quarter valued at $1,309,000. 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.