DoorDash (NASDAQ:DASH) PT Raised to $160.00

DoorDash (NASDAQ:DASH) had its target price raised by Oppenheimer from $145.00 to $160.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price would suggest a potential upside of 12.49% from the company’s current price.

A number of other research analysts also recently issued reports on DASH. Wolfe Research began coverage on DoorDash in a report on Tuesday, July 16th. They issued an “outperform” rating and a $130.00 price target for the company. Wells Fargo & Company increased their price target on shares of DoorDash from $125.00 to $127.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. BMO Capital Markets lifted their price objective on shares of DoorDash from $127.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of DoorDash in a research note on Monday, September 23rd. Finally, Evercore ISI raised their target price on DoorDash from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and a consensus target price of $145.97.

DoorDash Trading Down 0.6 %

Shares of NASDAQ DASH opened at $142.23 on Friday. The company has a 50 day simple moving average of $125.10 and a two-hundred day simple moving average of $121.89. The stock has a market cap of $58.53 billion, a price-to-earnings ratio of -131.69, a PEG ratio of 295.70 and a beta of 1.69. DoorDash has a 12 month low of $69.90 and a 12 month high of $146.36.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. DoorDash’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.44) earnings per share. Analysts forecast that DoorDash will post 0.01 EPS for the current year.

Insider Activity

In related news, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $107.75, for a total value of $5,836,386.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $5,836,386.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Keith Yandell sold 6,554 shares of DoorDash stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $706,193.50. Following the sale, the insider now owns 155,097 shares of the company’s stock, valued at $16,711,701.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 350,223 shares of company stock valued at $41,391,523. 7.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in DoorDash by 102.5% during the 4th quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock valued at $19,694,000 after acquiring an additional 100,787 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of DoorDash in the first quarter valued at approximately $2,969,000. Bank of Nova Scotia increased its stake in DoorDash by 298.3% during the 4th quarter. Bank of Nova Scotia now owns 186,201 shares of the company’s stock worth $18,413,000 after buying an additional 139,450 shares during the period. D L Carlson Investment Group Inc. acquired a new stake in DoorDash during the 4th quarter worth approximately $2,421,000. Finally, KBC Group NV boosted its position in DoorDash by 64.8% in the 4th quarter. KBC Group NV now owns 31,879 shares of the company’s stock valued at $3,153,000 after buying an additional 12,538 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Company Profile

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.