DoorDash (NASDAQ:DASH) Reaches New 52-Week High on Analyst Upgrade

DoorDash, Inc. (NASDAQ:DASH)’s stock price hit a new 52-week high during trading on Thursday after UBS Group raised their price target on the stock from $143.00 to $160.00. UBS Group currently has a neutral rating on the stock. DoorDash traded as high as $152.11 and last traded at $150.50, with a volume of 168714 shares. The stock had previously closed at $149.86.

A number of other equities analysts also recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of DoorDash in a research note on Monday, October 7th. BMO Capital Markets upped their price target on DoorDash from $127.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Argus assumed coverage on DoorDash in a research report on Tuesday, July 23rd. They set a “hold” rating on the stock. DA Davidson upped their price target on DoorDash from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Finally, Redburn Atlantic assumed coverage on DoorDash in a research report on Friday, July 26th. They set a “buy” rating and a $170.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $148.16.

Insider Buying and Selling

In related news, CEO Tony Xu sold 81,249 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total transaction of $12,014,289.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Tony Xu sold 81,249 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total transaction of $12,014,289.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shona L. Brown sold 5,005 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $120.00, for a total transaction of $600,600.00. Following the transaction, the director now owns 65,186 shares of the company’s stock, valued at approximately $7,822,320. 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 in the last 90 days. Insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

A number of hedge funds have recently bought and sold shares of the business. Brighton Jones LLC raised its holdings in DoorDash by 0.8% in the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock valued at $1,122,000 after acquiring an additional 82 shares during the last quarter. Everhart Financial Group Inc. grew its stake in shares of DoorDash by 3.1% in the 2nd quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after buying an additional 99 shares during the period. GAMMA Investing LLC grew its stake in shares of DoorDash by 17.2% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $101,000 after buying an additional 108 shares during the period. E Fund Management Co. Ltd. grew its stake in shares of DoorDash by 3.5% in the 2nd quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock valued at $355,000 after buying an additional 111 shares during the period. Finally, SJS Investment Consulting Inc. grew its stake in shares of DoorDash by 21.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock valued at $73,000 after buying an additional 117 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Performance

The firm’s 50 day moving average price is $135.26 and its two-hundred day moving average price is $123.06. The firm has a market cap of $62.15 billion, a PE ratio of -140.72, a PEG ratio of 425.82 and a beta of 1.70.

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

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.