Wolfe Research Boosts DoorDash (NASDAQ:DASH) Price Target to $220.00

DoorDash (NASDAQ:DASH) had its price target increased by research analysts at Wolfe Research from $210.00 to $220.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wolfe Research’s price target points to a potential upside of 25.74% from the company’s current price.

A number of other research firms have also recently commented on DASH. Barclays lifted their price target on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Oppenheimer upped their price target on DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. The Goldman Sachs Group upped their price target on DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. JMP Securities restated a “market outperform” rating and issued a $200.00 price objective on shares of DoorDash in a research note on Thursday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of DoorDash in a report on Monday, October 7th. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $171.42.

DoorDash Trading Up 2.5 %

DASH stock opened at $174.96 on Friday. The firm has a market cap of $72.68 billion, a PE ratio of -388.80, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70. The stock has a 50-day moving average price of $171.36 and a 200-day moving average price of $141.72. DoorDash has a 1-year low of $93.33 and a 1-year high of $181.78.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data 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. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the firm earned ($0.19) earnings per share. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, analysts forecast that DoorDash will post 0.26 earnings per share for the current year.

Insider Activity

In other news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $143.76, for a total transaction of $7,188,000.00. Following the transaction, the director now owns 18,089 shares of the company’s stock, valued at approximately $2,600,474.64. This trade represents a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $170.35, for a total value of $18,454,356.20. Following the transaction, the chief executive officer now owns 1,500 shares in the company, valued at $255,525. This trade represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,082,694 shares of company stock valued at $183,152,786. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several institutional investors have recently bought and sold shares of the stock. Rakuten Securities Inc. lifted its position in DoorDash by 302.3% in the third 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. Meeder Asset Management Inc. raised its stake in shares of DoorDash by 82.0% in 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 in the last quarter. Headlands Technologies LLC acquired a new stake in shares of DoorDash in the second quarter valued at $32,000. Quest Partners LLC boosted its stake in DoorDash by 146.8% during the second 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, Hollencrest Capital Management acquired a new position in DoorDash during the third quarter worth about $54,000. Institutional investors and hedge funds 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.