DoorDash (NASDAQ:DASH) Sets New 52-Week High – What’s Next?

by · The Cerbat Gem

DoorDash, Inc. (NASDAQ:DASH – Get Free Report)’s stock price reached a new 52-week high on Thursday . The company traded as high as $146.38 and last traded at $144.76, with a volume of 2928121 shares changing hands. The stock had previously closed at $142.65.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Oppenheimer raised their price target on DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Wells Fargo & Company lifted their price objective on shares of DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, October 4th. Redburn Atlantic assumed coverage on DoorDash in a research note on Friday, July 26th. They set a “buy” rating and a $170.00 target price for the company. Susquehanna lifted their price target on DoorDash from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, August 5th. Finally, Raymond James started coverage on DoorDash in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.91.

Check Out Our Latest Stock Report on DoorDash

DoorDash Trading Up 1.1 %

The company has a market capitalization of $58.97 billion, a price-to-earnings ratio of -132.08, a PEG ratio of 295.70 and a beta of 1.70. The firm’s 50 day simple moving average is $131.13 and its 200-day simple moving average is $122.42.

DoorDash (NASDAQ:DASH – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the firm earned ($0.44) earnings per share. DoorDash’s quarterly revenue was up 23.3% on a year-over-year basis. As a group, sell-side analysts forecast that DoorDash, Inc. will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $104.96, for a total transaction of $5,685,263.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the transaction, the director now owns 18,089 shares in the company, valued at $2,355,187.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $104.96, for a total transaction of $5,685,263.36. The disclosure for this sale can be found here. Insiders have sold a total of 231,503 shares of company stock worth $28,709,563 over the last quarter. 7.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Institutional investors have recently bought and sold shares of the business. ORG Partners LLC raised its stake in shares of DoorDash by 2,108.3% during the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after purchasing an additional 253 shares in the last quarter. Headlands Technologies LLC acquired a new stake in DoorDash in the second quarter valued at approximately $32,000. Meeder Asset Management Inc. grew its position in DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 132 shares in the last quarter. Hollencrest Capital Management acquired a new position in shares of DoorDash during the 1st quarter worth $42,000. Finally, Versant Capital Management Inc raised its holdings in shares of DoorDash by 340.8% during 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 in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Company Profile

(Get Free Report)

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.

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