DoorDash (NASDAQ:DASH) Price Target Raised to $200.00

DoorDash (NASDAQ:DASH) had its price objective increased by Loop Capital from $170.00 to $200.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group lifted their price target on DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Piper Sandler lifted their target price on DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Mizuho increased their price target on shares of DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Susquehanna lifted their price objective on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group increased their price objective on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research note 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.03.

DoorDash Stock Down 1.1 %

Shares of DoorDash stock opened at $173.80 on Tuesday. The company has a 50 day moving average price of $148.09 and a 200 day moving average price of $126.74. The firm has a market capitalization of $72.20 billion, a P/E ratio of -386.22, a PEG ratio of 14.85 and a beta of 1.67. DoorDash has a 52 week low of $92.56 and a 52 week high of $178.16.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.19) earnings per share. As a group, research analysts anticipate that DoorDash will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, CEO Tony Xu sold 81,249 shares of the 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 324,539 shares of company stock worth $46,439,330 over the last three months. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DASH. Janus Henderson Group PLC lifted its holdings in DoorDash by 11,416.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after buying an additional 3,425,115 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after acquiring an additional 1,645,186 shares during the period. Dragoneer Investment Group LLC raised its stake in shares of DoorDash by 77.9% in the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after acquiring an additional 1,246,567 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in DoorDash by 595.2% in the first quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock valued at $122,830,000 after purchasing an additional 763,579 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in DoorDash by 216.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after purchasing an additional 739,961 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.