Citigroup Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its target price raised by stock analysts at Citigroup from $155.00 to $211.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 18.09% from the company’s current price.

Several other equities research analysts have also issued reports on DASH. Royal Bank of Canada increased their price objective on shares of DoorDash from $165.00 to $175.00 and gave the stock an “outperform” rating in a research 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 objective for the company in a research report on Thursday, September 19th. Loop Capital increased their price objective on shares of DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. UBS Group raised their price target on shares of DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of DoorDash in a research note on Monday, October 7th. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $166.06.

DoorDash Stock Down 0.2 %

Shares of DASH traded down $0.33 on Wednesday, hitting $178.68. 255,003 shares of the stock traded hands, compared to its average volume of 3,786,173. DoorDash has a 1 year low of $92.58 and a 1 year high of $181.30. The stock’s 50 day moving average is $154.57 and its two-hundred day moving average is $129.52. The firm has a market capitalization of $74.22 billion, a P/E ratio of -399.24, a P/E/G ratio of 13.77 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping 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 firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the business posted ($0.19) earnings per share. DoorDash’s revenue for the quarter was up 25.0% compared to the same quarter last year. Research analysts forecast that DoorDash will post 0.26 EPS for the current year.

Insider Buying and Selling

In other DoorDash news, insider Keith Yandell sold 5,509 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $176.24, for a total transaction of $970,906.16. Following the completion of the transaction, the insider now owns 118,712 shares of the company’s stock, valued at $20,921,802.88. This represents a 4.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stanley Tang sold 1,855 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $315,312.90. Following the transaction, the director now directly owns 35,413 shares of the company’s stock, valued at approximately $6,019,501.74. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 553,262 shares of company stock valued at $85,515,902. 7.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Several large investors have recently made changes to their positions in DASH. Brighton Jones LLC raised its stake in DoorDash by 0.8% in the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock valued at $1,122,000 after acquiring an additional 82 shares during the period. Everhart Financial Group Inc. increased its position in DoorDash by 3.1% during the 2nd quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock worth $355,000 after buying an additional 99 shares during the period. E Fund Management Co. Ltd. increased its position in DoorDash by 3.5% during the 2nd quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock worth $355,000 after buying an additional 111 shares during the period. SJS Investment Consulting Inc. increased its position in DoorDash by 21.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock worth $73,000 after buying an additional 117 shares during the period. Finally, Venturi Wealth Management LLC increased its position in shares of DoorDash by 39.0% in the third quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock worth $61,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds 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.