DoorDash (NASDAQ:DASH) Price Target Raised to $215.00

DoorDash (NASDAQ:DASH) had its target price boosted by Royal Bank of Canada from $175.00 to $215.00 in a report published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets upped their price target on shares of DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Benchmark upped their target price on shares of DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Mizuho increased their price target on shares of DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. JMP Securities boosted their price objective on shares of DoorDash from $160.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Finally, Citigroup increased their price objective on DoorDash from $155.00 to $211.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $167.27.

DoorDash Trading Up 1.5 %

NASDAQ:DASH opened at $178.48 on Friday. The stock has a market capitalization of $74.14 billion, a P/E ratio of -396.62, a price-to-earnings-growth ratio of 13.97 and a beta of 1.70. DoorDash has a 1 year low of $93.33 and a 1 year high of $181.30. The firm has a 50 day moving average of $161.58 and a 200-day moving average of $133.50.

DoorDash (NASDAQ:DASH) last released its quarterly 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. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the firm posted ($0.19) EPS. As a group, analysts forecast that DoorDash will post 0.26 EPS for the current fiscal year.

Insider Activity

In related news, CEO Tony Xu sold 115,432 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total transaction of $20,432,618.32. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $265,515. This represents a 98.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Tia Sherringham sold 12,950 shares of the company’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 $2,201,241.00. Following the sale, the general counsel now owns 145,917 shares in the company, valued at approximately $24,802,971.66. This represents a 8.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 838,722 shares of company stock worth $136,732,309 over the last ninety days. Insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

A number of institutional investors and hedge funds have recently modified their holdings of DASH. Rakuten Securities Inc. grew its holdings in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the period. Meeder Asset Management Inc. increased its holdings 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 during the last quarter. Headlands Technologies LLC acquired a new stake in shares of DoorDash during the 2nd quarter worth about $32,000. Quest Partners LLC grew its stake in DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in DoorDash by 141.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock valued at $38,000 after acquiring an additional 206 shares during the period. 90.64% of the stock is owned by 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.