Evercore ISI Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price target hoisted by Evercore ISI from $155.00 to $200.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price points to a potential upside of 27.17% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group increased their target price on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. JMP Securities increased their price objective on DoorDash from $145.00 to $160.00 and gave the company a “market outperform” rating in a research note on Monday, September 30th. Susquehanna lifted their target price on DoorDash from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, August 5th. Benchmark increased their price target on DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their target price on shares of DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $157.82.

DoorDash Stock Up 1.3 %

DASH stock traded up $2.02 during mid-day trading on Thursday, hitting $157.27. 4,437,971 shares of the company were exchanged, compared to its average volume of 3,826,543. DoorDash has a 12-month low of $72.65 and a 12-month high of $165.07. The firm has a market capitalization of $64.72 billion, a P/E ratio of -153.88, a PEG ratio of 425.82 and a beta of 1.70. The business has a fifty day simple moving average of $139.31 and a 200-day simple moving average of $123.83.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.19) EPS. Research analysts predict that DoorDash will post 0.01 EPS for the current year.

Insider Activity at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total transaction of $6,685,709.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total value of $6,685,709.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 383,710 shares of company stock worth $53,725,640 over the last three months. 7.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

A number of institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its stake in shares of DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares during the last quarter. Headlands Technologies LLC acquired a new stake in DoorDash during the second quarter worth approximately $32,000. Versant Capital Management Inc grew its stake in DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares during the period. ORG Partners LLC raised its holdings in DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 253 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in shares of DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 204 shares during the period. 90.64% of the stock is 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.