DoorDash, Inc. (NASDAQ:DASH – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Thursday after Bank of America raised their price target on the stock from $172.00 to $205.00. Bank of America currently has a buy rating on the stock. DoorDash traded as high as $182.18 and last traded at $182.51, with a volume of 1428991 shares trading hands. The stock had previously closed at $177.68.
Several other research analysts also recently commented on DASH. Mizuho lifted their target price on shares of DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler upped their price objective on shares of DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Truist Financial raised their target price on DoorDash from $180.00 to $217.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Susquehanna upped their price target on DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Finally, KeyCorp lifted their price objective on DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $176.97.
Get Our Latest Analysis on DASH
Insider Activity
Hedge Funds Weigh In On DoorDash
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Calamos Advisors LLC lifted its stake in DoorDash by 11.6% in the 4th quarter. Calamos Advisors LLC now owns 173,664 shares of the company’s stock worth $29,132,000 after purchasing an additional 18,100 shares in the last quarter. Catalina Capital Group LLC bought a new stake in shares of DoorDash in the fourth quarter worth about $201,000. Princeton Global Asset Management LLC purchased a new stake in shares of DoorDash in the fourth quarter worth about $34,000. Spire Wealth Management boosted its stake in DoorDash by 67.2% during the fourth quarter. Spire Wealth Management now owns 637 shares of the company’s stock valued at $107,000 after buying an additional 256 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in DoorDash by 7.0% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,222 shares of the company’s stock valued at $1,715,000 after buying an additional 671 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.
DoorDash Trading Up 0.1 %
The firm has a market cap of $76.15 billion, a P/E ratio of -407.38, a P/E/G ratio of 1.85 and a beta of 1.71. The stock has a 50 day simple moving average of $174.13 and a 200-day simple moving average of $148.18.
DoorDash (NASDAQ:DASH – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping 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 company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the business posted ($0.19) earnings per share. DoorDash’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, equities analysts forecast that DoorDash, Inc. will post 0.29 earnings per share for the current fiscal year.
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.
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