Citigroup Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price target raised by research analysts at Citigroup from $155.00 to $211.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 18.25% from the stock’s current price.

Other equities analysts have also issued reports about the company. Morgan Stanley increased their price target on DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a report on Thursday, September 19th. Barclays increased their price objective on shares of DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Raymond James assumed coverage on shares of DoorDash in a report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 target price on the stock. Finally, UBS Group lifted their price target on DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.06.

DoorDash Price Performance

DoorDash stock opened at $178.44 on Wednesday. DoorDash has a 1 year low of $92.58 and a 1 year high of $181.30. The firm’s 50 day moving average price is $156.47 and its 200-day moving average price is $130.31. The stock has a market cap of $74.12 billion, a P/E ratio of -396.53, a PEG ratio of 13.77 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the firm posted ($0.19) EPS. DoorDash’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, equities analysts expect that DoorDash will post 0.26 EPS for the current year.

Insider Activity at DoorDash

In other news, CEO Tony Xu sold 108,332 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the transaction, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $255,375. This trade represents a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stanley Tang sold 1,855 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $315,312.90. Following the completion of the transaction, the director now directly owns 35,413 shares of the company’s stock, valued at $6,019,501.74. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 546,262 shares of company stock worth $84,620,882 over the last three months. 7.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Institutional investors have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. lifted its position in shares of DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after buying an additional 130 shares during the last quarter. Meeder Asset Management Inc. lifted its position in DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 132 shares during the last quarter. Headlands Technologies LLC purchased a new position in DoorDash in the second quarter worth $32,000. Versant Capital Management Inc increased its position in shares of DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 259 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in shares of DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 204 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

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.