DoorDash (NASDAQ:DASH) Hits New 12-Month High at $146.36

Shares of DoorDash, Inc. (NASDAQ:DASH) hit a new 52-week high during trading on Wednesday . The stock traded as high as $146.36 and last traded at $144.55, with a volume of 236626 shares changing hands. The stock had previously closed at $141.68.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DASH shares. JPMorgan Chase & Co. raised their price target on shares of DoorDash from $111.00 to $137.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Benchmark restated a “buy” rating and issued a $150.00 target price on shares of DoorDash in a report on Tuesday, July 30th. UBS Group increased their price target on DoorDash from $125.00 to $143.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price on the stock in a research report on Wednesday. Finally, Needham & Company LLC boosted their price target on DoorDash from $137.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.50.

DoorDash Trading Up 1.8 %

The stock has a market capitalization of $59.38 billion, a P/E ratio of -131.19, a P/E/G ratio of 295.70 and a beta of 1.69. The stock’s 50-day moving average price is $122.71 and its two-hundred day moving average price is $121.55.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.44) earnings per share. On average, equities research analysts predict that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $5,836,386.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other DoorDash news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the completion of the sale, the director now directly owns 19,982 shares in the company, valued at $2,109,499.74. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $5,836,386.50. The disclosure for this sale can be found here. Insiders have sold a total of 303,057 shares of company stock valued at $34,570,133 over the last three months. 7.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DoorDash

A number of large investors have recently added to or reduced their stakes in DASH. Meeder Asset Management Inc. increased its holdings in shares of DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares during the period. Headlands Technologies LLC bought a new stake in shares of DoorDash in the second quarter worth about $32,000. Versant Capital Management Inc raised its position in DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 259 shares during the last quarter. ORG Partners LLC lifted its holdings in DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after buying an additional 253 shares during the period. Finally, Quest Partners LLC grew its position in shares of DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after buying an additional 204 shares during the last quarter. 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.