DoorDash (NASDAQ:DASH) Price Target Raised to $175.00

DoorDash (NASDAQ:DASH) had its target price boosted by Royal Bank of Canada from $165.00 to $175.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

DASH has been the subject of a number of other reports. Morgan Stanley increased their price target on shares of DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. JMP Securities increased their target price on shares of DoorDash from $145.00 to $160.00 and gave the company a “market outperform” rating in a research note on Monday, September 30th. BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Thursday, September 19th. KeyCorp raised DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 price target for the company in a report on Wednesday, September 25th. Finally, Argus began coverage on DoorDash in a report on Tuesday, July 23rd. They set a “hold” rating on the stock. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and a consensus target price of $163.12.

DoorDash Stock Performance

DoorDash stock opened at $155.66 on Thursday. DoorDash has a 52 week low of $83.58 and a 52 week high of $165.07. The firm has a market capitalization of $64.06 billion, a PE ratio of -345.91, a PEG ratio of 331.02 and a beta of 1.67. The business’s 50-day simple moving average is $140.40 and its 200-day simple moving average is $124.21.

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 return on equity of 2.46% 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 period in the previous year, the business posted ($0.19) EPS. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. Research analysts forecast that DoorDash will post 0.01 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 81,249 shares of the 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 through the SEC website. In related news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony Xu sold 81,249 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was 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. In the last 90 days, insiders sold 383,710 shares of company stock worth $53,725,640. 7.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. lifted its holdings in DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares during the period. Headlands Technologies LLC bought a new stake in shares of DoorDash during the 2nd quarter valued at $32,000. Versant Capital Management Inc lifted its stake in shares of DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 259 shares during the period. ORG Partners LLC boosted its position in shares of DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after purchasing an additional 253 shares during the last quarter. Finally, Quest Partners LLC grew its stake in shares of DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 204 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.