DoorDash (NASDAQ:DASH) Price Target Raised to $265.00

by · The Cerbat Gem

DoorDash (NASDAQ:DASH – Free Report) had its price objective lifted by BTIG Research from $225.00 to $265.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have a buy rating on the stock.

Several other brokerages have also weighed in on DASH. Morgan Stanley decreased their price objective on DoorDash from $245.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Benchmark lifted their price target on shares of DoorDash from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. lowered their price target on shares of DoorDash from $205.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on shares of DoorDash from $201.00 to $198.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. Finally, Wedbush reissued an “outperform” rating on shares of DoorDash in a research note on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and a consensus price target of $219.32.

View Our Latest Research Report on DASH

DoorDash Price Performance

Shares of DoorDash stock opened at $238.76 on Tuesday. The company has a market cap of $101.17 billion, a PE ratio of 310.08 and a beta of 1.70. The firm has a fifty day moving average price of $210.94 and a two-hundred day moving average price of $193.08. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $248.74.

DoorDash (NASDAQ:DASH – Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter last year, the company earned ($0.06) earnings per share. The firm’s revenue was up 20.7% on a year-over-year basis. Analysts expect that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 34,167 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $240.66, for a total value of $8,222,630.22. Following the transaction, the chief executive officer owned 520,450 shares in the company, valued at $125,251,497. This trade represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $240.66, for a total value of $7,219,800.00. Following the completion of the sale, the director owned 22,545 shares of the company’s stock, valued at approximately $5,425,679.70. The trade was a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 427,781 shares of company stock valued at $94,277,848 over the last quarter. 5.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after acquiring an additional 8,073,882 shares during the period. Capital World Investors boosted its position in shares of DoorDash by 26.4% in the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of DoorDash by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock worth $897,031,000 after purchasing an additional 641,601 shares during the period. Invesco Ltd. increased its holdings in DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock valued at $877,269,000 after purchasing an additional 1,416,194 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in DoorDash by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock valued at $796,781,000 after buying an additional 949,414 shares during the period. 90.64% of the stock is owned by institutional investors.

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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