DoorDash (NASDAQ:DASH) Given New $217.00 Price Target at Truist Financial

DoorDash (NASDAQ:DASH) had its target price lifted by Truist Financial from $180.00 to $217.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also commented on DASH. Bank of America upped their price target on DoorDash from $168.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Susquehanna upped their target price on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research note on Friday, November 1st. BTIG Research upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Thursday, September 19th. The Goldman Sachs Group upped their price objective on shares of DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their target price on DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.39.

DoorDash Trading Down 1.4 %

Shares of DASH stock opened at $177.00 on Tuesday. The company has a market cap of $73.53 billion, a PE ratio of -393.33, a P/E/G ratio of 13.56 and a beta of 1.70. The company’s fifty day simple moving average is $166.24 and its 200-day simple moving average is $136.69. DoorDash has a 52 week low of $93.33 and a 52 week high of $181.78.

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

Insider Transactions at DoorDash

In other news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $176.66, for a total value of $8,833,000.00. Following the completion of the transaction, the director now directly owns 16,176 shares in the company, valued at $2,857,652.16. This trade represents a 75.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Keith Yandell sold 7,980 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $1,356,440.40. Following the sale, the insider now directly owns 124,221 shares in the company, valued at approximately $21,115,085.58. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 843,196 shares of company stock valued at $139,848,818. 7.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DASH. Lord Abbett & CO. LLC raised its position in DoorDash by 1.1% in the third quarter. Lord Abbett & CO. LLC now owns 750,119 shares of the company’s stock worth $107,064,000 after acquiring an additional 8,195 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after purchasing an additional 501,905 shares during the last quarter. Tri Ri Asset Management Corp bought a new stake in shares of DoorDash in the 3rd quarter worth approximately $6,250,000. Tidal Investments LLC lifted its stake in DoorDash by 19.9% during the third quarter. Tidal Investments LLC now owns 12,321 shares of the company’s stock valued at $1,759,000 after purchasing an additional 2,049 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in DoorDash during the third quarter worth approximately $1,109,000. Institutional investors 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.