DoorDash (NASDAQ:DASH) Given New $137.00 Price Target at JPMorgan Chase & Co.

DoorDash (NASDAQ:DASH) had its price objective hoisted by JPMorgan Chase & Co. from $111.00 to $137.00 in a research report released on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

DASH has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of DoorDash from $140.00 to $155.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Needham & Company LLC boosted their price objective on DoorDash from $137.00 to $145.00 and gave the company a buy rating in a research note on Friday. Benchmark reaffirmed a buy rating and set a $150.00 target price on shares of DoorDash in a report on Tuesday. Citigroup upped their price target on DoorDash from $141.00 to $144.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada cut their price objective on shares of DoorDash from $175.00 to $165.00 and set an outperform rating for the company in a research report on Thursday, May 2nd. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $142.38.

DoorDash Price Performance

Shares of DoorDash stock traded up $9.03 on Friday, reaching $117.23. 12,666,595 shares of the company traded hands, compared to its average volume of 4,409,081. The company has a 50 day moving average of $109.35 and a 200 day moving average of $118.25. DoorDash has a 52 week low of $69.90 and a 52 week high of $143.34. The firm has a market capitalization of $47.94 billion, a PE ratio of -108.55, a PEG ratio of 40.25 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.28). The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 6.00%. DoorDash’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the company posted ($0.44) earnings per share. As a group, analysts anticipate that DoorDash will post 0.07 earnings per share for the current year.

Insider Activity

In related news, General Counsel Tia Sherringham sold 11,740 shares of DoorDash stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $110.46, for a total value of $1,296,800.40. Following the completion of the sale, the general counsel now directly owns 183,512 shares in the company, valued at approximately $20,270,735.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Tia Sherringham sold 11,740 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $110.46, for a total value of $1,296,800.40. Following the sale, the general counsel now owns 183,512 shares in the company, valued at $20,270,735.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 131,590 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $111.61, for a total transaction of $14,686,759.90. The disclosure for this sale can be found here. Insiders have sold a total of 459,016 shares of company stock valued at $50,325,396 over the last ninety days. 7.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Privium Fund Management UK Ltd purchased a new stake in DoorDash during the second quarter valued at approximately $667,000. Rhumbline Advisers raised its holdings in DoorDash by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 409,866 shares of the company’s stock worth $44,585,000 after purchasing an additional 13,639 shares during the period. Versor Investments LP purchased a new position in DoorDash during the second quarter valued at $1,267,000. CIBC Asset Management Inc increased its position in DoorDash by 5.1% in the second quarter. CIBC Asset Management Inc now owns 72,823 shares of the company’s stock worth $7,922,000 after buying an additional 3,529 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in DoorDash by 584.7% in the second quarter. Natixis Advisors LLC now owns 342,103 shares of the company’s stock worth $37,214,000 after buying an additional 292,139 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

About DoorDash

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.