DoorDash (NASDAQ:DASH) Price Target Raised to $173.00

DoorDash (NASDAQ:DASH) had its price target boosted by analysts at Benchmark from $152.00 to $173.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price objective points to a potential upside of 13.83% from the stock’s current price.

A number of other brokerages have also recently weighed in on DASH. Redburn Atlantic initiated coverage on DoorDash in a research note on Friday, July 26th. They issued a “buy” rating and a $170.00 price objective for the company. Needham & Company LLC upped their price target 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. Wolfe Research assumed coverage on shares of DoorDash in a research report on Tuesday, July 16th. They set an “outperform” rating and a $130.00 price objective on the stock. Wedbush reaffirmed a “neutral” rating and issued a $115.00 target price on shares of DoorDash in a report on Friday, August 2nd. Finally, Truist Financial increased their target price on shares of DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $148.16.

DoorDash Trading Up 0.4 %

Shares of DoorDash stock opened at $151.98 on Thursday. The company has a fifty day simple moving average of $135.26 and a 200-day simple moving average of $123.06. DoorDash has a 12-month low of $69.90 and a 12-month high of $152.52. The stock has a market cap of $62.15 billion, a price-to-earnings ratio of -140.72, a PEG ratio of 425.82 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data 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). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the business posted ($0.44) EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, analysts forecast that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Transactions 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 stock in a transaction dated 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 transaction, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Prabir Adarkar sold 32,124 shares of DoorDash stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $147.99, for a total value of $4,754,030.76. Following the completion of the sale, the chief operating officer now 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 sold a total of 390,710 shares of company stock worth $54,472,120 over the last ninety days. 7.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently made changes to their positions in the stock. ORG Partners LLC raised its position in shares of 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. Headlands Technologies LLC acquired a new stake in DoorDash during the second quarter worth about $32,000. Meeder Asset Management Inc. raised its holdings in shares of DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares during the period. Hollencrest Capital Management acquired a new position in shares of DoorDash in the 1st quarter valued at about $42,000. Finally, Versant Capital Management Inc grew its holdings in shares of DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 259 shares during the period. Institutional investors and hedge funds 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.