Truist Financial Boosts DoorDash (NASDAQ:DASH) Price Target to $170.00

DoorDash (NASDAQ:DASH) had its price target upped by Truist Financial from $150.00 to $170.00 in a report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently commented on DASH. Keefe, Bruyette & Woods raised shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target for the company in a research report on Wednesday, September 25th. Needham & Company LLC boosted their target price on DoorDash from $137.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Piper Sandler restated a “neutral” rating and set a $125.00 price target (up previously from $115.00) on shares of DoorDash in a report on Friday, August 2nd. KeyCorp upgraded DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 price objective for the company in a research note on Wednesday, September 25th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $115.00 target price on shares of DoorDash in a report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.00.

DoorDash Trading Up 0.5 %

Shares of NASDAQ DASH opened at $153.88 on Tuesday. The stock has a fifty day simple moving average of $137.76 and a 200-day simple moving average of $123.59. DoorDash has a twelve month low of $69.90 and a twelve month high of $155.29. The stock has a market capitalization of $62.92 billion, a PE ratio of -142.48, a PEG ratio of 425.82 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results 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). The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.44) earnings per share. On average, equities analysts predict that DoorDash will post 0.01 earnings per share for the current year.

Insider Activity at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total transaction of $746,480.00. Following the completion of the sale, the chief financial officer now directly owns 417,223 shares of the company’s stock, valued at approximately $44,492,660.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total transaction of $746,480.00. Following the completion of the sale, the chief financial officer now owns 417,223 shares in the company, valued at $44,492,660.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Shona L. Brown sold 5,005 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the sale, the director now directly owns 65,186 shares of the company’s stock, valued at approximately $7,822,320. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 390,710 shares of company stock worth $54,472,120 in the last quarter. Company insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DASH. American International Group Inc. boosted its holdings in DoorDash by 551.7% in the 4th quarter. American International Group Inc. now owns 30,363 shares of the company’s stock valued at $3,003,000 after purchasing an additional 25,704 shares in the last quarter. Wellington Management Group LLP acquired a new position in DoorDash during the fourth quarter worth $21,228,000. Park Avenue Securities LLC raised its position in DoorDash by 2.2% in the first quarter. Park Avenue Securities LLC now owns 9,452 shares of the company’s stock worth $1,302,000 after acquiring an additional 203 shares in the last quarter. Ballentine Partners LLC acquired a new stake in DoorDash in the first quarter valued at $339,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of DoorDash by 26.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,802 shares of the company’s stock worth $1,488,000 after purchasing an additional 2,237 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.