DoorDash (NASDAQ:DASH) Given New $190.00 Price Target at JMP Securities

DoorDash (NASDAQ:DASH) had its price objective hoisted by JMP Securities from $160.00 to $190.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Several other research analysts also recently commented on DASH. Mizuho increased 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. Morgan Stanley increased their price target on shares of DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price target on shares of DoorDash from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. increased their price target on shares of DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Truist Financial increased their price target on shares of DoorDash from $170.00 to $180.00 and gave the company a “buy” rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $163.12.

DoorDash Stock Down 0.7 %

DASH opened at $155.66 on Thursday. The firm has a 50-day simple moving average of $140.40 and a two-hundred day simple moving average of $124.15. DoorDash has a 52 week low of $83.58 and a 52 week high of $165.07. The company has a market capitalization of $64.06 billion, a PE ratio of -345.91, a price-to-earnings-growth ratio of 359.82 and a beta of 1.67.

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 net margin of 1.69% and a negative return on equity of 2.41%. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the firm earned ($0.19) EPS. The business’s revenue was up 25.0% on a year-over-year basis. As a group, sell-side analysts expect that DoorDash will post 0.01 earnings per share for the current year.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of DoorDash 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 SEC, which can be accessed through this hyperlink. In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 396,152 shares in the company, valued at $50,651,994.72. This trade 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 at the SEC website. Also, 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 disclosure for this sale can be found here. Insiders have sold a total of 378,705 shares of company stock valued at $53,125,040 over the last ninety days. 7.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On DoorDash

Several institutional investors have recently bought and sold shares of DASH. Janus Henderson Group PLC boosted its stake in DoorDash by 11,416.7% in the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after acquiring an additional 3,425,115 shares in the last quarter. Dragoneer Investment Group LLC lifted its stake in shares of DoorDash by 77.9% during the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after buying an additional 1,246,567 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of DoorDash by 595.2% during the first quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock worth $122,830,000 after buying an additional 763,579 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of DoorDash by 216.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after buying an additional 739,961 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its stake in shares of DoorDash by 3,284.7% during the second quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock worth $79,385,000 after buying an additional 708,218 shares during the period. 90.64% of the stock is currently 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.