DoorDash (NASDAQ:DASH) Price Target Raised to $161.00 at The Goldman Sachs Group

DoorDash (NASDAQ:DASH) had its price objective boosted by The Goldman Sachs Group from $142.00 to $161.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target for the company in a research note on Wednesday, September 25th. BTIG Research upgraded DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Thursday, September 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of DoorDash in a research note on Monday, October 7th. Roth Mkm raised their price objective on DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Finally, Argus initiated coverage on DoorDash in a research note on Tuesday, July 23rd. They issued a “hold” rating for the company. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $163.12.

DoorDash Trading Down 0.7 %

Shares of DASH traded down $1.04 during midday trading on Friday, reaching $155.66. 4,092,814 shares of the stock were exchanged, compared to its average volume of 3,844,751. The company has a market capitalization of $64.06 billion, a P/E ratio of -345.91, a PEG ratio of 331.02 and a beta of 1.70. DoorDash has a 52 week low of $83.58 and a 52 week high of $165.07. The company’s 50 day moving average is $140.40 and its two-hundred day moving average is $124.21.

DoorDash (NASDAQ:DASH) last issued 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 return on equity of 2.46% and a negative net margin of 1.69%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.19) EPS. On average, sell-side analysts expect that DoorDash will post 0.01 EPS for the current year.

Insider Buying and Selling

In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $2,710,274.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other DoorDash news, Director Shona L. Brown sold 5,005 shares of the company’s 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 owns 65,186 shares in the company, valued at $7,822,320. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $149.83, for a total value of $7,491,500.00. Following the sale, the director now owns 18,089 shares in the company, valued at approximately $2,710,274.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 383,710 shares of company stock valued at $53,725,640. Corporate insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Marshall Wace LLP increased its holdings in shares of DoorDash by 930.5% in the 2nd quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after acquiring an additional 610,388 shares during the last quarter. Forsta AP Fonden boosted its position in shares of DoorDash by 18.6% in the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after purchasing an additional 10,100 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of DoorDash in the 1st quarter valued at about $2,969,000. CWM LLC boosted its position in shares of DoorDash by 97.1% in the 3rd quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after purchasing an additional 5,273 shares during the period. Finally, Paragon Capital Management Inc. acquired a new stake in shares of DoorDash in the 2nd quarter valued at about $1,309,000. Hedge funds and other institutional investors 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.