DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Citigroup Analyst Says

DoorDash (NASDAQ:DASH) had its price target lifted by Citigroup from $155.00 to $211.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 18.25% from the stock’s current price.

Other research analysts have also issued research reports about the company. Raymond James started coverage on DoorDash in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 target price for the company. Wells Fargo & Company increased their price objective on DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, October 4th. 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. Morgan Stanley upped their target price on shares of DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Wedbush reissued a “neutral” rating and set a $115.00 price target on shares of DoorDash in a research report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $166.06.

DoorDash Stock Down 0.3 %

NASDAQ:DASH opened at $178.44 on Wednesday. The firm’s fifty day simple moving average is $156.47 and its 200 day simple moving average is $130.31. The stock has a market cap of $74.12 billion, a P/E ratio of -396.53, a price-to-earnings-growth ratio of 13.77 and a beta of 1.67. DoorDash has a twelve month low of $92.58 and a twelve month high of $181.30.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the firm posted ($0.19) EPS. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, analysts expect that DoorDash will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, insider Keith Yandell sold 5,509 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $176.24, for a total transaction of $970,906.16. Following the completion of the sale, the insider now directly owns 118,712 shares of the company’s stock, valued at approximately $20,921,802.88. This represents a 4.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Tia Sherringham sold 12,950 shares of DoorDash stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $2,201,241.00. Following the transaction, the general counsel now owns 145,917 shares in the company, valued at $24,802,971.66. This represents a 8.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 546,262 shares of company stock valued at $84,620,882. 7.92% of the stock is owned by company insiders.

Institutional Trading of DoorDash

Hedge funds have recently bought and sold shares of the stock. Asset Management One Co. Ltd. lifted its position in shares of DoorDash by 10.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock valued at $16,012,000 after buying an additional 10,755 shares in the last quarter. Marshall Wace LLP lifted its holdings in DoorDash by 930.5% during the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after purchasing an additional 610,388 shares in the last quarter. Forsta AP Fonden boosted its position in shares of DoorDash by 18.6% in the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after purchasing an additional 10,100 shares during the period. Baillie Gifford & Co. increased its stake 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 worth $2,018,584,000 after purchasing an additional 1,645,186 shares in the last quarter. Finally, CWM LLC raised its position in shares of DoorDash by 97.1% during the 3rd quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after purchasing an additional 5,273 shares during the period. 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.