DoorDash (NASDAQ:DASH) Price Target Raised to $205.00 at Bank of America

DoorDash (NASDAQ:DASH) had its price target hoisted by equities researchers at Bank of America from $172.00 to $205.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 15.38% from the stock’s previous close.

Several other equities analysts have also issued reports on DASH. UBS Group lifted their target price on DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. DA Davidson lifted their price objective on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Keefe, Bruyette & Woods raised shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price for the company in a research report on Wednesday, September 25th. Evercore ISI lifted their price target on shares of DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Loop Capital increased their price objective on DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and a consensus price target of $176.97.

DoorDash Stock Performance

NASDAQ:DASH opened at $177.68 on Thursday. The firm has a 50-day simple moving average of $173.66 and a 200-day simple moving average of $147.42. DoorDash has a one year low of $99.32 and a one year high of $181.78. The firm has a market cap of $73.81 billion, a P/E ratio of -394.84, a P/E/G ratio of 1.88 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. DoorDash’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. On average, research analysts predict that DoorDash will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Keith Yandell sold 7,980 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the completion of the sale, the insider now owns 124,221 shares of the company’s stock, valued at $21,115,085.58. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the completion of the transaction, the director now directly owns 16,176 shares in the company, valued at $2,722,744.32. This represents a 75.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,019,333 shares of company stock valued at $177,556,541. 7.92% of the stock is owned by company insiders.

Institutional Trading of DoorDash

A number of institutional investors have recently made changes to their positions in DASH. Rakuten Securities Inc. raised its stake in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of DoorDash during the fourth quarter worth $36,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of DoorDash by 34.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after buying an additional 69 shares in the last quarter. Hollencrest Capital Management acquired a new stake in shares of DoorDash in the third quarter valued at about $54,000. Finally, Quarry LP purchased a new position in shares of DoorDash in the second quarter worth about $60,000. 90.64% of the stock is 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.