DoorDash (NASDAQ:DASH) Given New $173.00 Price Target at Mizuho

DoorDash (NASDAQ:DASH) had its price target increased by Mizuho from $162.00 to $173.00 in a research report report published on Thursday, Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on DASH. Needham & Company LLC boosted their target price on shares of DoorDash from $137.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Raymond James began coverage on DoorDash in a report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price objective for the company. KeyCorp raised DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 target price on the stock in a report on Wednesday, September 25th. Roth Mkm boosted their price target on DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, Piper Sandler restated a “neutral” rating and issued a $125.00 price objective (up previously from $115.00) on shares of DoorDash in a research report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $151.00.

DoorDash Price Performance

DoorDash stock traded up $1.51 during trading hours on Thursday, hitting $154.70. 219,064 shares of the stock traded hands, compared to its average volume of 3,811,939. DoorDash has a 1 year low of $69.90 and a 1 year high of $154.79. The stock has a market capitalization of $63.26 billion, a price-to-earnings ratio of -142.51, a P/E/G ratio of 425.82 and a beta of 1.70. The firm’s 50 day moving average price is $137.26 and its 200-day moving average price is $123.47.

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

Insider Buying and Selling at DoorDash

In other news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total transaction of $746,480.00. Following the transaction, the chief financial officer now owns 417,223 shares in the company, valued at $44,492,660.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Shona L. Brown sold 5,005 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were 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 in the company, valued at $7,822,320. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $106.64, for a total value of $746,480.00. Following the completion of the transaction, the chief financial officer now owns 417,223 shares in the company, valued at $44,492,660.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 390,710 shares of company stock worth $54,472,120 in the last three months. 7.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DASH. Janus Henderson Group PLC increased its position in shares of DoorDash by 11,416.7% during the 1st 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 last quarter. Dragoneer Investment Group LLC boosted its stake in DoorDash by 77.9% during the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after buying an additional 1,246,567 shares during the period. Canada Pension Plan Investment Board increased its position in shares of DoorDash by 595.2% during the first quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock valued at $122,830,000 after acquiring an additional 763,579 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of DoorDash by 216.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock valued at $154,486,000 after acquiring an additional 739,961 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its holdings in shares of DoorDash by 3,284.7% in the 2nd 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 during the last quarter. 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.