DoorDash (NASDAQ:DASH) Given New $150.00 Price Target at Truist Financial

DoorDash (NASDAQ:DASH) had its target price raised by Truist Financial from $145.00 to $150.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also commented on the stock. Moffett Nathanson raised shares of DoorDash from a neutral rating to a buy rating and increased their price objective for the stock from $118.00 to $164.00 in a report on Thursday, April 11th. Loop Capital initiated coverage on shares of DoorDash in a research note on Friday, April 19th. They issued a buy rating and a $170.00 target price on the stock. Roth Mkm reduced their target price on shares of DoorDash from $121.00 to $118.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. Redburn Atlantic initiated coverage on shares of DoorDash in a research note on Friday, July 26th. They issued a buy rating and a $170.00 target price on the stock. Finally, Needham & Company LLC raised their target price on shares of DoorDash from $137.00 to $145.00 and gave the company a buy rating in a research note on Friday. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $142.38.

DoorDash Stock Up 8.3 %

NASDAQ:DASH traded up $9.03 during mid-day trading on Friday, reaching $117.23. 12,666,595 shares of the company were exchanged, compared to its average volume of 4,409,081. DoorDash has a 12 month low of $69.90 and a 12 month high of $143.34. The company has a fifty day moving average of $109.35 and a 200 day moving average of $118.25. The stock has a market cap of $47.94 billion, a PE ratio of -108.55, a PEG ratio of 40.25 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.28). DoorDash had a negative return on equity of 6.00% and a negative net margin of 4.24%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the company earned ($0.44) EPS. The firm’s revenue was up 23.3% compared to the same quarter last year. On average, equities research analysts anticipate that DoorDash will post 0.07 EPS for the current fiscal year.

Insider Activity

In other news, CEO Tony Xu sold 131,590 shares of DoorDash stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $111.61, for a total value of $14,686,759.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Tia Sherringham sold 11,740 shares of DoorDash stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $110.46, for a total value of $1,296,800.40. Following the sale, the general counsel now directly owns 183,512 shares in the company, valued at $20,270,735.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 131,590 shares of DoorDash stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $111.61, for a total transaction of $14,686,759.90. The disclosure for this sale can be found here. Insiders have sold 459,016 shares of company stock worth $50,325,396 over the last ninety days. Insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of institutional investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its holdings in DoorDash by 54.5% during the first quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after buying an additional 90 shares during the last quarter. Everhart Financial Group Inc. boosted its position in DoorDash by 3.1% during the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock worth $355,000 after purchasing an additional 99 shares during the period. Hillsdale Investment Management Inc. boosted its position in DoorDash by 1.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 6,540 shares of the company’s stock worth $647,000 after purchasing an additional 100 shares during the period. Summit Trail Advisors LLC boosted its position in DoorDash by 0.3% during the first quarter. Summit Trail Advisors LLC now owns 36,925 shares of the company’s stock worth $5,085,000 after purchasing an additional 106 shares during the period. Finally, GAMMA Investing LLC boosted its position in DoorDash by 17.2% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $101,000 after purchasing an additional 108 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.