DoorDash (NASDAQ:DASH) Price Target Raised to $175.00

by · The Markets Daily

DoorDash (NASDAQ:DASH – Free Report) had its price objective boosted by Royal Bank of Canada from $165.00 to $175.00 in a research note issued to investors on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group raised their price target on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Raymond James initiated coverage on shares of DoorDash in a report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price target for the company. Redburn Atlantic initiated coverage on shares of DoorDash in a report on Friday, July 26th. They set a “buy” rating and a $170.00 price target for the company. Bank of America raised their price target on shares of DoorDash from $168.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Needham & Company LLC raised their price target on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $163.12.

View Our Latest Report on DoorDash

DoorDash Price Performance

DoorDash stock opened at $155.66 on Thursday. The firm’s 50 day simple moving average is $140.40 and its 200-day simple moving average is $124.15. The company has a market cap of $64.06 billion, a P/E ratio of -345.91, a price-to-earnings-growth ratio of 359.82 and a beta of 1.67. DoorDash has a fifty-two week low of $83.58 and a fifty-two week high of $165.07.

DoorDash (NASDAQ:DASH – Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.17. The business had revenue of $2.71 billion for 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%. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.19) earnings per share. On average, analysts expect that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on 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 sale, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total value of $6,685,709.38. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 378,705 shares of company stock valued at $53,125,040 in the last 90 days. 7.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoorDash

Several institutional investors and hedge funds have recently made changes to their positions in DASH. Janus Henderson Group PLC boosted its stake in shares of DoorDash by 11,416.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after purchasing an additional 3,425,115 shares in the last quarter. Dragoneer Investment Group LLC boosted its stake in shares of DoorDash by 77.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after purchasing an additional 1,246,567 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of DoorDash by 595.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock valued at $122,830,000 after purchasing an additional 763,579 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in DoorDash by 216.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after buying an additional 739,961 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in DoorDash by 3,284.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock worth $79,385,000 after buying an additional 708,218 shares in the last quarter. Institutional investors and hedge funds 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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