Morgan Stanley Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its target price upped by investment analysts at Morgan Stanley from $160.00 to $200.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 18.11% from the company’s current price.

A number of other research firms have also weighed in on DASH. Citigroup upped their target price on DoorDash from $155.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. The Goldman Sachs Group raised their price objective on DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. BMO Capital Markets boosted their target price on shares of DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. BTIG Research upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Thursday, September 19th. Finally, Loop Capital boosted their price objective on shares of DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.30.

DoorDash Trading Up 0.6 %

DASH opened at $169.33 on Monday. The company has a market capitalization of $70.34 billion, a price-to-earnings ratio of -376.29, a PEG ratio of 13.46 and a beta of 1.71. DoorDash has a 12-month low of $99.32 and a 12-month high of $181.78. The business’s fifty day simple moving average is $173.31 and its 200-day simple moving average is $144.48.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) 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 period in the prior year, the business earned ($0.19) EPS. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. On average, equities research analysts predict that DoorDash will post 0.26 EPS for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, General Counsel Tia Sherringham sold 12,950 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $2,201,241.00. Following the completion of the transaction, the general counsel now directly owns 145,917 shares in the company, valued at approximately $24,802,971.66. This represents a 8.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Keith Yandell sold 7,980 shares of DoorDash stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the completion of the sale, the insider now owns 124,221 shares in the company, valued at approximately $21,115,085.58. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,019,321 shares of company stock valued at $177,554,465. Corporate insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. lifted its position in shares of 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. Dragoneer Investment Group LLC lifted its holdings in DoorDash by 77.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after purchasing an additional 1,246,567 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in DoorDash by 216.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock valued at $154,486,000 after purchasing an additional 739,961 shares in the last quarter. Janus Henderson Group PLC boosted 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 purchasing an additional 700,465 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of DoorDash by 5,396.1% during the third quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock worth $94,716,000 after buying an additional 651,525 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.