DoorDash (NASDAQ:DASH) Hits New 1-Year High on Analyst Upgrade

DoorDash, Inc. (NASDAQ:DASH)’s share price hit a new 52-week high during trading on Tuesday after Truist Financial raised their price target on the stock from $180.00 to $217.00. Truist Financial currently has a buy rating on the stock. DoorDash traded as high as $181.78 and last traded at $181.25, with a volume of 938393 shares trading hands. The stock had previously closed at $179.50.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group raised their target price on shares of DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. BMO Capital Markets raised their price objective on DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Needham & Company LLC boosted their target price on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Piper Sandler raised their price target on shares of DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, DA Davidson boosted their price objective on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.39.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $143.76, for a total value of $7,188,000.00. Following the sale, the director now owns 18,089 shares in the company, valued at approximately $2,600,474.64. This represents a 73.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Tony Xu sold 81,249 shares of DoorDash stock in a transaction that occurred on Tuesday, October 15th. The shares were 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. In the last three months, insiders have sold 951,528 shares of company stock valued at $159,212,079. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several hedge funds have recently modified their holdings of DASH. Rakuten Securities Inc. raised its holdings in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the period. Headlands Technologies LLC purchased a new stake in shares of DoorDash in the second quarter valued at approximately $32,000. Meeder Asset Management Inc. raised its stake in shares of DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares during the period. Quest Partners LLC lifted its position 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 buying an additional 204 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in DoorDash by 141.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock valued at $38,000 after acquiring an additional 206 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Trading Down 6.6 %

The firm’s fifty day moving average is $166.69 and its 200 day moving average is $136.89. The company has a market cap of $68.70 billion, a PE ratio of -367.53, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the business earned ($0.19) earnings per share. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

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.