KeyCorp Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its price target raised by stock analysts at KeyCorp from $180.00 to $225.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective suggests a potential upside of 32.26% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Susquehanna lifted their price target on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Wells Fargo & Company lifted their target price on DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, October 4th. DA Davidson increased their price target on DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their price target on DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Mizuho boosted their price objective on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.79.

DoorDash Trading Down 2.1 %

NASDAQ DASH opened at $170.12 on Thursday. DoorDash has a 12 month low of $99.32 and a 12 month high of $181.78. The company has a market capitalization of $70.67 billion, a PE ratio of -378.04, a P/E/G ratio of 13.56 and a beta of 1.71. The stock has a 50-day simple moving average of $172.80 and a 200 day simple moving average of $143.21.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating 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 return on equity of 2.41% and a negative net margin of 1.69%. DoorDash’s revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.19) EPS. As a group, sell-side analysts predict that DoorDash will post 0.26 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other DoorDash news, Director Stanley Tang sold 1,855 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $315,312.90. Following the completion of the sale, the director now owns 35,413 shares of the company’s stock, valued at $6,019,501.74. This trade represents a 4.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Keith Yandell sold 7,980 shares of DoorDash stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the sale, the insider now directly owns 124,221 shares of the company’s stock, valued at $21,115,085.58. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,032,694 shares of company stock worth $175,964,786 in the last ninety days. Insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of large investors have recently made changes to their positions in the company. Baillie Gifford & Co. grew its holdings in DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares in the last quarter. Dragoneer Investment Group LLC lifted its holdings in shares of DoorDash by 77.9% during the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after buying an additional 1,246,567 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of DoorDash by 216.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock valued at $154,486,000 after acquiring an additional 739,961 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in DoorDash by 3,284.7% during the second quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock worth $79,385,000 after acquiring an additional 708,218 shares during the period. Finally, Janus Henderson Group PLC raised its stake in DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after purchasing an additional 700,465 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

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.