Bank of America Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its target price increased by Bank of America from $168.00 to $172.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 7.50% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Benchmark upped their price target on shares of DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Barclays increased their target price on DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Redburn Atlantic started coverage on DoorDash in a research report on Friday, July 26th. They issued a “buy” rating and a $170.00 price target on the stock. Morgan Stanley upped their price target on DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Raymond James began coverage on shares of DoorDash in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.91.

DoorDash Stock Performance

DASH opened at $160.00 on Thursday. The stock has a 50-day moving average of $139.31 and a 200-day moving average of $123.83. DoorDash has a 52-week low of $72.65 and a 52-week high of $165.07. The company has a market cap of $65.85 billion, a PE ratio of -161.09, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the company posted ($0.19) earnings per share. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, research analysts predict that DoorDash will post 0.01 earnings per share for the current year.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 81,249 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Tony Xu sold 81,249 shares of DoorDash stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shona L. Brown sold 5,005 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $120.00, for a total transaction of $600,600.00. Following the sale, the director now directly owns 65,186 shares in the company, valued at approximately $7,822,320. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 383,710 shares of company stock valued at $53,725,640. Corporate insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Avidian Wealth Enterprises LLC bought a new position in DoorDash in the 3rd quarter valued at $316,000. ASB Consultores LLC lifted its stake in shares of DoorDash by 26.0% during the third quarter. ASB Consultores LLC now owns 3,657 shares of the company’s stock valued at $522,000 after acquiring an additional 754 shares during the period. Gulf International Bank UK Ltd boosted its holdings in DoorDash by 14.6% in the third quarter. Gulf International Bank UK Ltd now owns 23,855 shares of the company’s stock valued at $3,404,000 after acquiring an additional 3,044 shares during the last quarter. Asset Management One Co. Ltd. increased its position in DoorDash by 10.6% in the third quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after purchasing an additional 10,755 shares during the period. Finally, National Pension Service raised its holdings in DoorDash by 12.5% during the 3rd quarter. National Pension Service now owns 430,249 shares of the company’s stock worth $61,409,000 after purchasing an additional 47,893 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.