Brokerages Set DoorDash, Inc. (NASDAQ:DASH) PT at $166.06

Shares of DoorDash, Inc. (NASDAQ:DASH) have earned an average rating of “Moderate Buy” from the thirty-four brokerages that are presently covering the company, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold recommendation and twenty-four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $166.06.

Several brokerages have recently weighed in on DASH. Evercore ISI boosted their price target on shares of DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Bank of America boosted their target price on shares of DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Oppenheimer raised their price target on shares of DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. BMO Capital Markets lifted their price target on shares of DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Truist Financial increased their price objective on DoorDash from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st.

Insider Buying and Selling

In other news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated 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 owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This trade represents a 73.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony Xu sold 108,334 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $180.07, for a total value of $19,507,703.38. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $270,105. This trade represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 654,596 shares of company stock worth $104,128,585. Corporate insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. boosted its stake in DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after acquiring an additional 1,645,186 shares in the last quarter. State Street Corp boosted its position in shares of DoorDash by 3.8% in the 3rd quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after purchasing an additional 272,659 shares during the period. Janus Henderson Group PLC grew its stake in DoorDash by 14.5% during the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after buying an additional 700,465 shares during the last quarter. Geode Capital Management LLC grew its stake in DoorDash by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after buying an additional 267,855 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in DoorDash by 15.2% during the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after buying an additional 501,905 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Price Performance

DASH opened at $180.48 on Friday. The firm has a market capitalization of $74.97 billion, a price-to-earnings ratio of -401.07, a price-to-earnings-growth ratio of 13.88 and a beta of 1.67. The company’s 50 day simple moving average is $158.11 and its two-hundred day simple moving average is $131.20. DoorDash has a 1-year low of $92.58 and a 1-year high of $181.30.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm’s revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.19) earnings per share. On average, equities analysts anticipate that DoorDash will post 0.26 earnings per share 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.