Mizuho Increases DoorDash (NASDAQ:DASH) Price Target to $173.00

DoorDash (NASDAQ:DASH) had its price objective hoisted by stock analysts at Mizuho from $162.00 to $173.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target points to a potential upside of 12.43% from the stock’s previous close.

Several other research firms have also recently weighed in on DASH. Wolfe Research assumed coverage on shares of DoorDash in a report on Tuesday, July 16th. They set an “outperform” rating and a $130.00 price objective for the company. Raymond James initiated coverage on DoorDash in a report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price target on the stock. Redburn Atlantic began coverage on DoorDash in a report on Friday, July 26th. They issued a “buy” rating and a $170.00 price objective for the company. Argus initiated coverage on DoorDash in a research report on Tuesday, July 23rd. They set a “hold” rating for the company. Finally, DA Davidson raised their target price on DoorDash from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Ten research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $151.00.

DoorDash Trading Up 0.5 %

DoorDash stock opened at $153.88 on Thursday. DoorDash has a 12 month low of $69.90 and a 12 month high of $155.29. The stock has a fifty day simple moving average of $137.76 and a two-hundred day simple moving average of $123.59. The firm has a market cap of $62.92 billion, a price-to-earnings ratio of -142.48, a PEG ratio of 425.82 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the business earned ($0.44) earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. On average, equities research analysts forecast that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now directly owns 18,089 shares of the company’s stock, valued at $2,355,187.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 81,249 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total value of $12,014,289.63. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 390,710 shares of company stock worth $54,472,120. Insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Several hedge funds have recently made changes to their positions in the business. First Trust Direct Indexing L.P. increased its position in shares of DoorDash by 11.1% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,704 shares of the company’s stock valued at $814,000 after purchasing an additional 568 shares during the last quarter. abrdn plc boosted its stake in DoorDash by 63.5% during the third quarter. abrdn plc now owns 72,389 shares of the company’s stock worth $10,332,000 after buying an additional 28,127 shares during the period. Smith Group Asset Management LLC bought a new position in DoorDash during the third quarter valued at $313,000. Pallas Capital Advisors LLC purchased a new stake in shares of DoorDash in the third quarter valued at $364,000. Finally, Asahi Life Asset Management CO. LTD. lifted its holdings in shares of DoorDash by 28.6% in the 3rd quarter. Asahi Life Asset Management CO. LTD. now owns 3,060 shares of the company’s stock worth $437,000 after acquiring an additional 680 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.