DoorDash (NASDAQ:DASH) Sets New 12-Month High After Analyst Upgrade

DoorDash, Inc. (NASDAQ:DASH)’s share price hit a new 52-week high on Friday after Mizuho raised their price target on the stock from $162.00 to $173.00. Mizuho currently has an outperform rating on the stock. DoorDash traded as high as $154.57 and last traded at $154.13, with a volume of 149344 shares. The stock had previously closed at $153.19.

Several other equities research analysts have also weighed in on DASH. Redburn Atlantic initiated coverage on DoorDash in a research report on Friday, July 26th. They issued a “buy” rating and a $170.00 target price on the stock. Barclays increased their price objective on shares of DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Morgan Stanley lifted their price objective on shares of DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods upgraded shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price for the company in a research report on Wednesday, September 25th. Finally, Raymond James initiated coverage on shares of DoorDash in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price target on the stock. Ten analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average price target of $151.00.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 32,124 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the completion of the sale, the chief operating officer now directly owns 963,094 shares in the company, valued at approximately $142,528,281.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Prabir Adarkar sold 32,124 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the sale, the chief operating officer now directly owns 963,094 shares of the company’s stock, valued at $142,528,281.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $106.64, for a total value of $746,480.00. Following the completion of the transaction, the chief financial officer now owns 417,223 shares of the company’s stock, valued at $44,492,660.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 390,710 shares of company stock valued at $54,472,120 over the last ninety days. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. grew its holdings in shares of 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 buying an additional 132 shares in the last quarter. Headlands Technologies LLC acquired a new stake in DoorDash during the 2nd quarter worth about $32,000. Versant Capital Management Inc grew its stake in DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares in the last quarter. ORG Partners LLC increased its holdings in shares of DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 253 shares during the period. Finally, Quest Partners LLC lifted its position in shares of DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 204 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Stock Up 0.5 %

The firm has a market capitalization of $62.92 billion, a PE ratio of -142.48, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70. The business’s 50-day moving average price is $137.76 and its 200-day moving average price is $123.50.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.44) EPS. On average, analysts anticipate that DoorDash, Inc. will post 0.01 EPS 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.