BMO Capital Markets Increases DoorDash (NASDAQ:DASH) Price Target to $180.00

DoorDash (NASDAQ:DASH) had its price objective boosted by equities researchers at BMO Capital Markets from $140.00 to $180.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 12.50% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. DA Davidson lifted their target price on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday. JMP Securities lifted their target price on DoorDash from $145.00 to $160.00 and gave the stock a “market outperform” rating in a report on Monday, September 30th. Raymond James assumed coverage on DoorDash in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of DoorDash in a report on Monday, October 7th. Finally, Jefferies Financial Group lifted their target price on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $155.91.

DoorDash Stock Up 3.1 %

DoorDash stock opened at $160.00 on Thursday. DoorDash has a twelve month low of $72.65 and a twelve month high of $165.07. The company has a market capitalization of $65.85 billion, a P/E ratio of -161.09, a PEG ratio of 425.82 and a beta of 1.70. The stock’s 50 day moving average is $139.31 and its 200 day moving average is $123.83.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.19) earnings per share. As a group, equities analysts expect that DoorDash will post 0.01 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 81,249 shares of DoorDash stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total transaction of $12,014,289.63. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Tony Xu sold 81,249 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction dated Friday, August 30th. The stock was 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 disclosure for this sale can be found here. Insiders sold 383,710 shares of company stock worth $53,725,640 in the last three months. 7.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC raised its stake in DoorDash by 0.8% during 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 in the last quarter. Everhart Financial Group Inc. raised its position in shares of DoorDash by 3.1% during the 2nd quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after buying an additional 99 shares in the last quarter. E Fund Management Co. Ltd. lifted its holdings in shares of DoorDash by 3.5% in the 2nd quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock valued at $355,000 after acquiring an additional 111 shares during the last quarter. SJS Investment Consulting Inc. grew its position in DoorDash by 21.0% in 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 in the last quarter. Finally, Meeder Advisory Services Inc. increased its stake in DoorDash by 4.4% during the first quarter. Meeder Advisory Services Inc. now owns 3,006 shares of the company’s stock worth $414,000 after acquiring an additional 126 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

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.