DoorDash (NASDAQ:DASH) Hits New 1-Year High – Here’s Why

DoorDash, Inc. (NASDAQ:DASH) shares hit a new 52-week high on Wednesday . The stock traded as high as $185.38 and last traded at $184.51, with a volume of 2637573 shares traded. The stock had previously closed at $182.48.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DASH. Mizuho lifted their price objective on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Susquehanna lifted their price target on DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Evercore ISI upped their price objective on DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. BMO Capital Markets boosted their target price on shares of DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Wolfe Research raised their price target on shares of DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and a consensus price target of $178.18.

DoorDash Stock Up 1.1 %

The firm has a market capitalization of $76.65 billion, a PE ratio of -410.02, a price-to-earnings-growth ratio of 1.85 and a beta of 1.71. The business has a 50-day moving average price of $174.49 and a 200-day moving average price of $149.86.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. The company 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 2.41% 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 earned ($0.19) EPS. On average, equities research analysts anticipate that DoorDash, Inc. will post 0.29 earnings per share for the current year.

Insider Activity at DoorDash

In other news, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $183.20, for a total value of $261,060.00. Following the sale, the chief financial officer now directly owns 366,993 shares of the company’s stock, valued at approximately $67,233,117.60. The trade was a 0.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Keith Yandell sold 7,980 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the completion of the transaction, the insider now owns 124,221 shares in the company, valued at approximately $21,115,085.58. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,040,758 shares of company stock worth $181,434,201. Insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of DoorDash by 13.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 65,706 shares of the company’s stock valued at $7,146,000 after buying an additional 7,853 shares during the period. Mackenzie Financial Corp increased its stake in DoorDash by 4.6% during the second quarter. Mackenzie Financial Corp now owns 18,073 shares of the company’s stock worth $1,966,000 after purchasing an additional 789 shares during the period. Scientech Research LLC acquired a new stake in shares of DoorDash during the second quarter worth about $302,000. Algert Global LLC purchased a new position in shares of DoorDash in the second quarter valued at approximately $338,000. Finally, Quarry LP acquired a new position in shares of DoorDash in the second quarter valued at approximately $60,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

About DoorDash

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.