UBS Group Increases DoorDash (NASDAQ:DASH) Price Target to $160.00

DoorDash (NASDAQ:DASH) had its price target lifted by research analysts at UBS Group from $143.00 to $160.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 5.28% from the stock’s previous close.

A number of other analysts have also weighed in on DASH. Morgan Stanley raised their price target on shares of DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Barclays raised their target price on shares of DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Wolfe Research assumed coverage on shares of DoorDash in a report on Tuesday, July 16th. They issued an “outperform” rating and a $130.00 price objective on the stock. Raymond James assumed coverage on shares of DoorDash in a research report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 target price for the company. Finally, JMP Securities increased their target price on DoorDash from $145.00 to $160.00 and gave the company a “market outperform” rating in a research note on Monday, September 30th. Ten investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $148.16.

DoorDash Stock Up 0.4 %

DoorDash stock opened at $151.98 on Friday. The stock has a market cap of $62.15 billion, a price-to-earnings ratio of -140.72, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70. DoorDash has a 12 month low of $69.90 and a 12 month high of $152.52. The business has a 50 day moving average price of $135.26 and a two-hundred day moving average price of $122.96.

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

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total transaction of $6,685,709.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 417,223 shares in the company, valued at $44,492,660.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total transaction of $6,685,709.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 390,710 shares of company stock valued at $54,472,120. 7.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoorDash

Several institutional investors have recently bought and sold shares of DASH. Marshall Wace LLP raised its holdings in shares of DoorDash by 930.5% during the 2nd quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock worth $73,534,000 after acquiring an additional 610,388 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in DoorDash in the first quarter worth $2,969,000. CWM LLC increased its position in DoorDash by 97.1% during the third quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after acquiring an additional 5,273 shares during the last quarter. Paragon Capital Management Inc. bought a new stake in shares of DoorDash in the 2nd quarter worth about $1,309,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of DoorDash by 9.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 25,807 shares of the company’s stock valued at $2,807,000 after purchasing an additional 2,125 shares during the period. 90.64% of the stock is 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.