UBS Group Raises DoorDash (NASDAQ:DASH) Price Target to $160.00

DoorDash (NASDAQ:DASH) had its price target boosted by UBS Group from $143.00 to $160.00 in a research report report published on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also recently weighed in on the company. Redburn Atlantic initiated coverage on DoorDash in a report on Friday, July 26th. They set a “buy” rating and a $170.00 price objective on the stock. JMP Securities lifted their price objective on DoorDash from $145.00 to $160.00 and gave the company a “market outperform” rating in a report on Monday, September 30th. Barclays lifted their price objective on DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Argus initiated coverage on DoorDash in a report on Tuesday, July 23rd. They set a “hold” rating on the stock. Finally, BTIG Research upgraded DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Thursday, September 19th. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.16.

DoorDash Trading Up 0.6 %

DoorDash stock opened at $152.89 on Friday. The firm has a market capitalization of $62.52 billion, a P/E ratio of -141.56, a PEG ratio of 425.82 and a beta of 1.70. DoorDash has a 1 year low of $69.90 and a 1 year high of $152.89. The business has a 50-day moving average of $135.26 and a 200-day moving average of $122.85.

DoorDash (NASDAQ:DASH) last posted its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. DoorDash’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.44) earnings per share. Research analysts anticipate that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Activity

In other news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated 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 completion of the sale, the director now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the sale, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction 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 the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the sale, the director now directly owns 65,186 shares of the company’s stock, valued at $7,822,320. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 390,710 shares of company stock valued at $54,472,120. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several large investors have recently added to or reduced their stakes in DASH. Janus Henderson Group PLC grew its stake in DoorDash by 11,416.7% during the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after purchasing an additional 3,425,115 shares during the period. Dragoneer Investment Group LLC boosted its holdings in DoorDash by 77.9% in the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after acquiring an additional 1,246,567 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in DoorDash by 595.2% in the first quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock worth $122,830,000 after acquiring an additional 763,579 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in DoorDash by 216.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after acquiring an additional 739,961 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its holdings in DoorDash by 3,284.7% in the second quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock worth $79,385,000 after acquiring an additional 708,218 shares in the last quarter. Institutional investors and hedge funds 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.