DoorDash (NASDAQ:DASH) Sets New 12-Month High After Analyst Upgrade

DoorDash, Inc. (NASDAQ:DASH)’s share price hit a new 52-week high on Tuesday after Truist Financial raised their price target on the stock from $180.00 to $217.00. Truist Financial currently has a buy rating on the stock. DoorDash traded as high as $181.78 and last traded at $181.25, with a volume of 938393 shares. The stock had previously closed at $179.50.

DASH has been the topic of a number of other reports. Mizuho lifted their target price on DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. KeyCorp lifted their price objective on DoorDash from $177.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Citigroup increased their target price on DoorDash from $155.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of DoorDash in a report on Monday, October 7th. Finally, Loop Capital raised their price objective on shares of DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $168.39.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stanley Tang sold 1,855 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $315,312.90. Following the sale, the director now directly owns 35,413 shares of the company’s stock, valued at approximately $6,019,501.74. The trade was a 4.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 843,196 shares of company stock worth $139,848,818 over the last ninety days. 7.92% of the stock is owned by corporate insiders.

Institutional Trading of DoorDash

Large investors have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC lifted its position in DoorDash by 1.1% in the third quarter. Lord Abbett & CO. LLC now owns 750,119 shares of the company’s stock worth $107,064,000 after buying an additional 8,195 shares during the last quarter. Franklin Resources Inc. raised its holdings in DoorDash by 15.2% in the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after purchasing an additional 501,905 shares in the last quarter. Tri Ri Asset Management Corp acquired a new stake in shares of DoorDash in the 3rd quarter worth $6,250,000. Tidal Investments LLC grew its position in DoorDash by 19.9% during the 3rd quarter. Tidal Investments LLC now owns 12,321 shares of the company’s stock worth $1,759,000 after purchasing an additional 2,049 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of DoorDash in the third quarter valued at about $1,109,000. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Down 1.4 %

The stock’s 50 day moving average price is $166.24 and its two-hundred day moving average price is $136.69. The stock has a market cap of $73.53 billion, a price-to-earnings ratio of -393.33, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.19) earnings per share. On average, analysts predict that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

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.