DoorDash (NASDAQ:DASH) Price Target Raised to $170.00

DoorDash (NASDAQ:DASH) had its target price hoisted by Truist Financial from $150.00 to $170.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently issued reports on DASH. Jefferies Financial Group boosted their price target on DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on DoorDash from $111.00 to $137.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Needham & Company LLC lifted their price objective on shares of DoorDash from $137.00 to $145.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company upped their price target 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. Finally, Roth Mkm raised their target price on shares of DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Ten analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average price target of $151.00.

DoorDash Trading Up 1.5 %

Shares of DoorDash stock opened at $153.19 on Tuesday. The company has a market cap of $62.64 billion, a P/E ratio of -139.24, a PEG ratio of 425.82 and a beta of 1.70. The company’s fifty day simple moving average is $136.81 and its two-hundred day simple moving average is $123.27. DoorDash has a 12-month low of $69.90 and a 12-month high of $154.16.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share 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 business posted ($0.44) earnings per share. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. Analysts predict that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Transactions at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 32,124 shares of the firm’s stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Prabir Adarkar sold 32,124 shares of the stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 963,094 shares in the company, valued at approximately $142,528,281.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 81,249 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The disclosure for this sale can be found here. Insiders sold 390,710 shares of company stock valued at $54,472,120 over the last 90 days. Corporate insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Several hedge funds have recently modified their holdings of DASH. Asahi Life Asset Management CO. LTD. grew its holdings in DoorDash by 28.6% during the 3rd quarter. Asahi Life Asset Management CO. LTD. now owns 3,060 shares of the company’s stock worth $437,000 after acquiring an additional 680 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of DoorDash by 8.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,660 shares of the company’s stock valued at $1,664,000 after buying an additional 942 shares in the last quarter. Forsta AP Fonden grew its position in DoorDash by 18.6% during the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after buying an additional 10,100 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in DoorDash by 14.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,676 shares of the company’s stock valued at $10,763,000 after purchasing an additional 9,359 shares during the last quarter. Finally, Ballentine Partners LLC lifted its stake in DoorDash by 29.8% in the 3rd quarter. Ballentine Partners LLC now owns 2,850 shares of the company’s stock valued at $407,000 after buying an additional 655 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.