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

DoorDash (NASDAQ:DASH) had its target price hoisted by equities researchers at Morgan Stanley from $160.00 to $200.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 18.11% from the company’s previous close.

A number of other analysts have also commented on DASH. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of DoorDash in a report on Monday, October 7th. Truist Financial lifted their price objective on DoorDash from $180.00 to $217.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Needham & Company LLC upped their target price on shares of DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Bank of America raised their price target on shares of DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Raymond James began coverage on shares of DoorDash in a report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.30.

DoorDash Price Performance

Shares of DoorDash stock opened at $169.33 on Monday. DoorDash has a 1 year low of $99.32 and a 1 year high of $181.78. The firm’s 50-day moving average is $173.31 and its 200 day moving average is $144.48. The stock has a market cap 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 (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. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. On average, equities analysts expect that DoorDash will post 0.26 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $168.32, for a total value of $8,416,000.00. Following the sale, the director now directly owns 16,176 shares of the company’s stock, valued at $2,722,744.32. This represents a 75.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $170.25, for a total value of $18,443,523.00. Following the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $255,375. This trade represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,019,321 shares of company stock valued at $177,554,465. Insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Institutional investors and hedge funds have recently modified their holdings of the business. Park Avenue Securities LLC grew its position in DoorDash by 19.5% in the 4th quarter. Park Avenue Securities LLC now owns 9,167 shares of the company’s stock valued at $1,538,000 after acquiring an additional 1,499 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of DoorDash by 422.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 202,340 shares of the company’s stock valued at $33,943,000 after purchasing an additional 163,597 shares during the period. David J Yvars Group purchased a new stake in shares of DoorDash during the fourth quarter valued at $477,000. MRA Advisory Group bought a new position in shares of DoorDash in the fourth quarter worth about $221,000. Finally, Pallas Capital Advisors LLC increased its stake in DoorDash by 3.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock worth $414,000 after buying an additional 88 shares during the period. 90.64% of the stock is owned by 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.