DoorDash (NASDAQ:DASH) PT Raised to $173.00

DoorDash (NASDAQ:DASH) had its target price raised by Benchmark from $152.00 to $173.00 in a report published on Thursday morning, Benzinga reports. Benchmark currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. UBS Group raised their price target on shares of DoorDash from $125.00 to $143.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Redburn Atlantic started coverage on DoorDash in a research note on Friday, July 26th. They issued a “buy” rating and a $170.00 target price for the company. JMP Securities upped their price target on DoorDash from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Monday, September 30th. KeyCorp upgraded DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 price target on the stock in a report on Wednesday, September 25th. Finally, Barclays raised their price objective on DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.16.

DoorDash Price Performance

Shares of DoorDash stock opened at $151.98 on Thursday. The stock’s 50-day moving average is $135.26 and its 200 day moving average is $122.85. DoorDash has a one year low of $69.90 and a one year high of $152.52. The firm has a market cap of $62.15 billion, a price-to-earnings ratio of -140.72, a PEG ratio of 425.82 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its quarterly 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 business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. DoorDash’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.44) earnings per share. On average, sell-side analysts expect that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on 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 directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other DoorDash 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 value of $4,754,030.76. Following the sale, the chief operating officer now directly owns 963,094 shares in the company, 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 filing with the SEC, which is available through the SEC website. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the sale, the director now owns 18,089 shares in the company, valued at approximately $2,355,187.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 390,710 shares of company stock worth $54,472,120. 7.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoorDash

Several hedge funds have recently made changes to their positions in DASH. Meeder Asset Management Inc. grew its position in shares of DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of DoorDash in the second quarter valued at $32,000. Versant Capital Management Inc grew its position in shares of DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 259 shares in the last quarter. ORG Partners LLC grew its position in shares of DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 253 shares in the last quarter. Finally, Quest Partners LLC grew 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 valued at $37,000 after purchasing an additional 204 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.