DoorDash (NASDAQ:DASH) PT Raised to $160.00 at JMP Securities

DoorDash (NASDAQ:DASH) had its target price hoisted by research analysts at JMP Securities from $145.00 to $160.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective would indicate a potential upside of 12.17% from the company’s current price.

A number of other brokerages have also weighed in on DASH. Wells Fargo & Company lifted their price objective on shares of DoorDash from $125.00 to $127.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Morgan Stanley boosted their price target on DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on DoorDash from $111.00 to $137.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. DA Davidson boosted their target price on shares of DoorDash from $110.00 to $119.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Finally, Piper Sandler restated a “neutral” rating and issued a $125.00 price target (up from $115.00) on shares of DoorDash in a report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.44.

DoorDash Stock Performance

Shares of NASDAQ DASH traded up $0.41 during midday trading on Monday, reaching $142.64. The stock had a trading volume of 85,007 shares, compared to its average volume of 3,925,539. The stock has a 50-day moving average of $125.10 and a 200-day moving average of $121.82. DoorDash has a 12-month low of $69.90 and a 12-month high of $146.36. The company has a market capitalization of $58.33 billion, a price-to-earnings ratio of -132.01, a price-to-earnings-growth ratio of 295.70 and a beta of 1.69.

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

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $105.57, for a total value of $5,278,500.00. Following the sale, the director now 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 can be accessed through the SEC website. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The disclosure for this sale can be found here. Insiders have sold a total of 281,503 shares of company stock valued at $33,988,063 in the last ninety days. 7.92% of the stock is currently owned by corporate insiders.

Institutional Trading of DoorDash

Several large investors have recently made changes to their positions in DASH. Vanguard Group Inc. boosted its stake in DoorDash by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after purchasing an additional 2,259,976 shares during the last quarter. Baillie Gifford & Co. boosted its position in DoorDash by 0.8% during the second quarter. Baillie Gifford & Co. now owns 12,497,488 shares of the company’s stock worth $1,359,477,000 after acquiring an additional 94,241 shares during the last quarter. Capital World Investors grew its stake in DoorDash by 0.8% during the 1st quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock valued at $1,304,242,000 after acquiring an additional 74,504 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of DoorDash by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock worth $753,281,000 after purchasing an additional 242,956 shares during the last quarter. Finally, Janus Henderson Group PLC grew 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 valued at $475,837,000 after purchasing an additional 3,425,115 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.