DoorDash (NASDAQ:DASH) Given New $180.00 Price Target at Needham & Company LLC

DoorDash (NASDAQ:DASH) had its target price raised by Needham & Company LLC from $145.00 to $180.00 in a research note issued to investors on Thursday, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other brokerages have also recently commented on DASH. KeyCorp upgraded DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 price objective on the stock in a research note on Wednesday, September 25th. Barclays boosted their price objective on DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Roth Mkm boosted their price objective on DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Jefferies Financial Group boosted their price objective on DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $163.12.

DoorDash Trading Down 0.7 %

Shares of DoorDash stock opened at $155.66 on Thursday. DoorDash has a twelve month low of $83.58 and a twelve month high of $165.07. The stock has a market capitalization of $64.06 billion, a P/E ratio of -345.91, a PEG ratio of 359.82 and a beta of 1.67. The business’s fifty day moving average price is $140.40 and its 200 day moving average price is $124.15.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.19) earnings per share. As a group, sell-side analysts predict that DoorDash will post 0.01 EPS for the current year.

Insider Activity

In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the completion of the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,710,274.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $2,710,274.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total value of $6,685,709.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 378,705 shares of company stock valued at $53,125,040. 7.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DoorDash

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC boosted its position in shares of DoorDash by 0.8% during the second quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock worth $1,122,000 after buying an additional 82 shares during the period. Everhart Financial Group Inc. lifted its position in DoorDash by 3.1% in the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock worth $355,000 after purchasing an additional 99 shares during the period. E Fund Management Co. Ltd. lifted its position in DoorDash by 3.5% in the second quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock worth $355,000 after purchasing an additional 111 shares during the period. SJS Investment Consulting Inc. lifted its position in DoorDash by 21.0% in the second quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock worth $73,000 after purchasing an additional 117 shares during the period. Finally, Meeder Advisory Services Inc. lifted its position in DoorDash by 4.4% in the first quarter. Meeder Advisory Services Inc. now owns 3,006 shares of the company’s stock worth $414,000 after purchasing an additional 126 shares during the period. 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.