DoorDash, Inc. (NASDAQ:DASH) Receives $168.39 Average PT from Analysts

DoorDash, Inc. (NASDAQ:DASH) has been assigned an average recommendation of “Moderate Buy” from the thirty-four ratings firms that are covering the company, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $168.39.

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods raised DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price on the stock in a research report on Wednesday, September 25th. KeyCorp boosted their target price on shares of DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group increased their price target on shares of DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Raymond James started coverage on shares of DoorDash in a research report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price objective for the company. Finally, Loop Capital raised their target price on DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th.

DoorDash Stock Up 0.2 %

DASH opened at $169.60 on Tuesday. The stock has a market capitalization of $70.45 billion, a price-to-earnings ratio of -376.89, a PEG ratio of 13.56 and a beta of 1.70. The firm has a 50 day moving average price of $169.61 and a 200-day moving average price of $139.91. DoorDash has a twelve month low of $93.33 and a twelve month high of $181.78.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.19) EPS. As a group, analysts expect that DoorDash will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 81,249 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total value of $12,014,289.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stanley Tang sold 1,855 shares of the 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 completion of the sale, the director now owns 35,413 shares in the company, valued at approximately $6,019,501.74. The trade was a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 897,362 shares of company stock valued at $151,625,589 over the last ninety days. 7.92% of the stock is owned by insiders.

Institutional Trading of DoorDash

Several institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its holdings in shares of DoorDash by 25.0% in the third quarter. Principal Financial Group Inc. now owns 90,786 shares of the company’s stock valued at $12,958,000 after purchasing an additional 18,155 shares during the period. Lord Abbett & CO. LLC raised its position in DoorDash by 1.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 750,119 shares of the company’s stock valued at $107,064,000 after purchasing an additional 8,195 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after buying an additional 501,905 shares during the period. Tri Ri Asset Management Corp bought a new position in shares of DoorDash during the 3rd quarter worth $6,250,000. Finally, Tidal Investments LLC increased its stake in shares of DoorDash by 19.9% during the third quarter. Tidal Investments LLC now owns 12,321 shares of the company’s stock valued at $1,759,000 after buying an additional 2,049 shares during the period. 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.