DoorDash (NASDAQ:DASH) Hits New 1-Year High – Here’s Why

by · The Markets Daily

Shares of DoorDash, Inc. (NASDAQ:DASH – Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $165.75 and last traded at $164.02, with a volume of 539105 shares trading hands. The stock had previously closed at $159.46.

Analyst Ratings Changes

DASH has been the subject of several analyst reports. UBS Group increased their price objective on DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Oppenheimer raised their price objective on DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Susquehanna upped their target price on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. JMP Securities raised their price target on shares of DoorDash from $160.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Finally, Truist Financial boosted their price target on shares of DoorDash from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and a consensus target price of $163.12.

Read Our Latest Stock Analysis on DASH

DoorDash Trading Up 6.4 %

The business’s fifty day moving average price is $141.59 and its 200-day moving average price is $124.52. The company has a market capitalization of $69.81 billion, a P/E ratio of -376.98, a P/E/G ratio of 18.08 and a beta of 1.67.

DoorDash (NASDAQ:DASH – Get Free Report) last issued 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. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.19) earnings per share. As a group, equities research analysts forecast that DoorDash, Inc. will post 0.17 EPS for the current year.

Insider Transactions at DoorDash

In related news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction on Friday, August 30th. The shares were sold at an average price of $127.86, for a total value of $895,020.00. Following the transaction, the chief financial officer now owns 396,152 shares in the company, valued at $50,651,994.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Tony Xu sold 81,249 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the SEC, which is accessible through this link. Also, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction on Friday, August 30th. The stock was sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the transaction, the chief financial officer now directly owns 396,152 shares in the company, valued at approximately $50,651,994.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 324,539 shares of company stock worth $46,439,330. 7.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DoorDash

Large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in shares of DoorDash by 54.1% during the first quarter. Commonwealth Equity Services LLC now owns 4,664 shares of the company’s stock worth $642,000 after purchasing an additional 1,637 shares during the period. Private Advisor Group LLC grew its position in shares of DoorDash by 569.2% in the 1st quarter. Private Advisor Group LLC now owns 14,830 shares of the company’s stock worth $2,042,000 after buying an additional 12,614 shares during the last quarter. Nordea Investment Management AB grew its position in shares of DoorDash by 5.7% in the 1st quarter. Nordea Investment Management AB now owns 19,071 shares of the company’s stock worth $2,661,000 after buying an additional 1,022 shares during the last quarter. ORG Partners LLC raised its holdings in shares of DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 253 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in DoorDash by 98.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,732 shares of the company’s stock worth $789,000 after acquiring an additional 2,848 shares during the period. Institutional investors own 90.64% of the company’s stock.

About DoorDash

(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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