Truist Financial Boosts DoorDash (NASDAQ:DASH) Price Target to $180.00

DoorDash (NASDAQ:DASH) had its target price hoisted by Truist Financial from $170.00 to $180.00 in a research report report published on Thursday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on DASH. Barclays lifted their price objective on shares of DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Mizuho lifted their price objective on shares of DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company lifted their price objective on shares of DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, October 4th. JMP Securities lifted their price objective on shares of DoorDash from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Monday, September 30th. Finally, Oppenheimer lifted their price objective on shares of DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.12.

DoorDash Stock Down 0.7 %

Shares of DASH stock opened at $155.66 on Thursday. DoorDash has a 52 week low of $83.58 and a 52 week high of $165.07. The stock has a market capitalization of $64.06 billion, a PE ratio of -345.91, a P/E/G ratio of 359.82 and a beta of 1.67. The firm has a 50 day moving average of $140.40 and a two-hundred day moving average of $124.15.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the company posted ($0.19) EPS. The firm’s revenue was up 25.0% compared to the same quarter last year. Analysts expect that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the transaction, 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 available at the SEC website. In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the transaction, 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 available at the SEC website. Also, COO Prabir Adarkar sold 32,124 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the transaction, the chief operating officer now directly owns 963,094 shares of the company’s stock, valued at $142,528,281.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 378,705 shares of company stock valued at $53,125,040 over the last quarter. Corporate insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several institutional investors and hedge funds have recently bought and sold shares of DASH. Janus Henderson Group PLC increased its position in shares of DoorDash by 11,416.7% in the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after acquiring an additional 3,425,115 shares in the last quarter. Dragoneer Investment Group LLC increased its position in shares of 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 increased its position in shares of 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 increased its position in shares of 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. increased its position in shares of 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.