DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, KeyCorp Analyst Says

DoorDash (NASDAQ:DASH) had its price target upped by investment analysts at KeyCorp from $177.00 to $180.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 15.61% from the stock’s previous close.

DASH has been the topic of several other research reports. UBS Group upped their price objective on shares of DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. BMO Capital Markets raised their price objective on DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday. BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Thursday, September 19th. Redburn Atlantic started coverage on DoorDash in a research report on Friday, July 26th. They issued a “buy” rating and a $170.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price target on DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $159.42.

DoorDash Stock Performance

DASH stock traded up $0.44 on Thursday, reaching $155.69. The company had a trading volume of 6,314,177 shares, compared to its average volume of 3,835,436. The company’s fifty day moving average is $139.31 and its 200 day moving average is $123.83. The company has a market cap of $64.07 billion, a P/E ratio of -153.26, a PEG ratio of 425.82 and a beta of 1.70. DoorDash has a 1 year low of $72.65 and a 1 year high of $165.07.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the company earned ($0.19) earnings per share. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, sell-side analysts predict that DoorDash will post 0.01 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Shona L. Brown sold 5,005 shares of DoorDash stock in a transaction on Monday, August 5th. The stock was sold at an average price of $120.00, for a total transaction of $600,600.00. Following the completion of the sale, the director now owns 65,186 shares of the company’s stock, valued at approximately $7,822,320. This trade 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 accessible through the SEC website. In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the transaction, the director now owns 18,089 shares in the company, valued at $2,710,274.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Shona L. Brown sold 5,005 shares of DoorDash stock in a transaction on Monday, August 5th. The stock was sold at an average price of $120.00, for a total transaction of $600,600.00. Following the completion of the transaction, the director now owns 65,186 shares in the company, valued at $7,822,320. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,710 shares of company stock worth $53,725,640. 7.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoorDash

A number of hedge funds have recently bought and sold shares of DASH. Wealth Enhancement Advisory Services LLC grew its stake in shares of DoorDash by 26.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,802 shares of the company’s stock worth $1,488,000 after acquiring an additional 2,237 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in DoorDash by 38.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 271,024 shares of the company’s stock worth $37,325,000 after buying an additional 75,272 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of DoorDash by 7.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 689,785 shares of the company’s stock worth $94,997,000 after purchasing an additional 47,725 shares in the last quarter. Norden Group LLC bought a new position in DoorDash in the first quarter worth $1,135,000. Finally, First Trust Direct Indexing L.P. increased its holdings in DoorDash by 10.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 4,780 shares of the company’s stock valued at $658,000 after buying an additional 437 shares during the period. 90.64% of the stock is currently owned by 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.