DoorDash (NASDAQ:DASH) Price Target Raised to $172.00

DoorDash (NASDAQ:DASH) had its price target upped by Bank of America from $168.00 to $172.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on DASH. KeyCorp upgraded DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 price target on the stock in a report on Wednesday, September 25th. JPMorgan Chase & Co. increased their target price on shares of DoorDash from $111.00 to $137.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Mizuho lifted their price target on shares of DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Wolfe Research began coverage on shares of DoorDash in a research report on Tuesday, July 16th. They set an “outperform” rating and a $130.00 price objective on the stock. Finally, Argus assumed coverage on DoorDash in a research note on Tuesday, July 23rd. They issued a “hold” rating for the company. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.12.

DoorDash Stock Down 0.7 %

Shares of NASDAQ DASH opened at $155.66 on Thursday. 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 1.67. The firm has a fifty day simple moving average of $140.40 and a 200 day simple moving average of $124.21. DoorDash has a twelve month low of $83.58 and a twelve month high of $165.07.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data 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. 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 the consensus estimate of $2.66 billion. During the same period in the previous year, the business earned ($0.19) EPS. The firm’s revenue was up 25.0% compared to the same quarter last year. As a group, equities analysts expect that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of DoorDash 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 legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction that occurred on 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 available at this hyperlink. Also, COO Prabir Adarkar sold 32,124 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $147.99, for a total value of $4,754,030.76. Following the completion of the transaction, the chief operating officer now owns 963,094 shares in the company, valued at approximately $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 worth $53,725,640 in the last quarter. 7.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DASH. Meeder Asset Management Inc. raised 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 valued at $32,000 after purchasing an additional 132 shares during the period. Headlands Technologies LLC purchased a new position in DoorDash in the 2nd quarter valued at approximately $32,000. Versant Capital Management Inc raised its holdings in DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares during the period. ORG Partners LLC lifted its position in shares of DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after acquiring an additional 253 shares in the last quarter. Finally, Quest Partners LLC lifted its position in shares of 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 in the last quarter. 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.