DoorDash (NASDAQ:DASH) PT Raised to $150.00

DoorDash (NASDAQ:DASH) had its target price upped by Morgan Stanley from $145.00 to $150.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Citigroup increased their price objective on shares of DoorDash from $141.00 to $144.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Needham & Company LLC upped their target price on shares of DoorDash from $137.00 to $145.00 and gave the stock a buy rating in a report on Friday. Redburn Atlantic assumed coverage on shares of DoorDash in a report on Friday, July 26th. They issued a buy rating and a $170.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of DoorDash from $111.00 to $137.00 and gave the stock a neutral rating in a report on Friday. Finally, Wells Fargo & Company upped their target price on shares of DoorDash from $100.00 to $125.00 and gave the stock an equal weight rating in a report on Thursday, April 4th. Eleven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, DoorDash has a consensus rating of Moderate Buy and a consensus price target of $141.93.

DoorDash Stock Performance

Shares of DASH stock traded up $2.52 during mid-day trading on Friday, reaching $123.82. The company’s stock had a trading volume of 4,179,503 shares, compared to its average volume of 4,110,795. DoorDash has a 1-year low of $69.90 and a 1-year high of $143.34. The company has a market cap of $50.63 billion, a P/E ratio of -112.54, a PEG ratio of 40.25 and a beta of 1.67. The firm’s 50-day moving average is $109.52 and its two-hundred day moving average is $118.57.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 6.00%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the company posted ($0.44) EPS. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. Sell-side analysts anticipate that DoorDash will post 0.07 EPS for the current year.

Insider Transactions at DoorDash

In other 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 transaction of $1,296,800.40. Following the completion of the transaction, the general counsel now directly owns 183,512 shares of the company’s stock, valued at approximately $20,270,735.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 transaction of $1,296,800.40. Following the completion of the transaction, the general counsel now directly owns 183,512 shares of the company’s stock, valued at approximately $20,270,735.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shona L. Brown sold 1,712 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total transaction of $189,980.64. Following the transaction, the director now directly owns 70,191 shares of the company’s stock, valued at $7,789,095.27. The disclosure for this sale can be found here. Insiders sold 459,016 shares of company stock valued at $50,325,396 in the last ninety days. 7.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DASH. Spire Wealth Management bought a new position in DoorDash during the first quarter worth $25,000. Venturi Wealth Management LLC boosted its position in DoorDash by 54.5% during the first quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after purchasing an additional 90 shares during the period. Versant Capital Management Inc boosted its position in DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 259 shares during the period. ORG Partners LLC boosted its position in DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after purchasing an additional 253 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in DoorDash by 141.1% during the second quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock worth $38,000 after purchasing an additional 206 shares during the period. 90.64% of the stock is owned by institutional investors.

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.