DoorDash (NASDAQ:DASH) Reaches New 12-Month High – Should You Buy?

DoorDash, Inc. (NASDAQ:DASH) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $176.27 and last traded at $175.85, with a volume of 205680 shares. The stock had previously closed at $174.95.

Analysts Set New Price Targets

A number of research firms have issued reports on DASH. Keefe, Bruyette & Woods raised shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective on the stock in a report on Wednesday, September 25th. BMO Capital Markets lifted their price objective on shares of DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Thursday, September 19th. Jefferies Financial Group boosted their price target on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Barclays boosted their price target on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Ten 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.12.

DoorDash Trading Up 0.6 %

The firm has a 50 day moving average of $145.10 and a 200-day moving average of $125.75. The company has a market cap of $73.11 billion, a P/E ratio of -390.38, a P/E/G ratio of 14.42 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating 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 last year, the company earned ($0.19) EPS. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. Equities analysts predict that DoorDash, Inc. will post 0.24 EPS for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Tony Xu sold 81,249 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total value of $12,014,289.63. The disclosure for this sale can be found here. Insiders sold a total of 324,539 shares of company stock worth $46,439,330 in the last quarter. 7.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Citigroup Inc. raised its position in DoorDash by 6.6% during the third quarter. Citigroup Inc. now owns 413,805 shares of the company’s stock valued at $59,062,000 after acquiring an additional 25,576 shares in the last quarter. Raymond James Trust N.A. acquired a new stake in shares of DoorDash in the third quarter worth approximately $216,000. Charles Schwab Investment Management Inc. boosted its stake in shares of DoorDash by 7.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,341,660 shares of the company’s stock worth $191,495,000 after acquiring an additional 88,025 shares during the last quarter. Banco Santander S.A. acquired a new stake in shares of DoorDash in the third quarter worth approximately $666,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of DoorDash by 7.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 38,819 shares of the company’s stock worth $5,541,000 after acquiring an additional 2,602 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.