DoorDash (NASDAQ:DASH) Given New $211.00 Price Target at Citigroup

DoorDash (NASDAQ:DASH) had its price objective raised by Citigroup from $155.00 to $211.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently commented on DASH. Needham & Company LLC increased their price target on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Benchmark lifted their target price on shares of DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley upped their price target on shares of DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group lifted their price objective on shares of DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, KeyCorp upped their target price on DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $166.06.

DoorDash Stock Performance

NASDAQ:DASH opened at $178.44 on Wednesday. The stock has a market capitalization of $74.12 billion, a P/E ratio of -395.69, a P/E/G ratio of 13.77 and a beta of 1.67. The company’s 50-day simple moving average is $155.55 and its 200-day simple moving average is $129.97. DoorDash has a fifty-two week low of $92.58 and a fifty-two week high of $181.30.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (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 business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the company earned ($0.19) earnings per share. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, research analysts forecast that DoorDash will post 0.26 EPS for the current year.

Insider Activity at DoorDash

In other DoorDash news, insider Keith Yandell sold 5,509 shares of the 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 553,262 shares of company stock valued at $85,515,902. 7.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. lifted its stake in shares of DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after buying an additional 130 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of 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 purchasing an additional 132 shares in the last quarter. Headlands Technologies LLC purchased a new position in DoorDash during the second quarter worth approximately $32,000. Versant Capital Management Inc boosted its stake in DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after buying an additional 259 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 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.