The Goldman Sachs Group Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its price target raised by investment analysts at The Goldman Sachs Group from $161.00 to $192.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 10.04% from the stock’s previous close.

Several other analysts have also issued reports on the company. Benchmark upped their target price on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of DoorDash in a research note on Monday, October 7th. Needham & Company LLC increased their price objective on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods upgraded shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price on the stock in a report on Wednesday, September 25th. Finally, Morgan Stanley increased their price target on shares of DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.97.

DoorDash Stock Up 2.1 %

NASDAQ DASH opened at $174.48 on Thursday. DoorDash has a 12-month low of $99.32 and a 12-month high of $181.78. The firm’s 50 day moving average is $173.54 and its 200-day moving average is $145.27. The company has a market capitalization of $72.48 billion, a PE ratio of -387.73, a price-to-earnings-growth ratio of 1.77 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the business earned ($0.19) EPS. The company’s revenue was up 25.0% compared to the same quarter last year. As a group, sell-side analysts expect that DoorDash will post 0.26 EPS for the current year.

Insider Transactions at DoorDash

In other news, Director Andy Fang sold 50,000 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the sale, the director now directly owns 16,176 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total value of $18,443,523.00. Following the completion of the transaction, the chief executive officer now owns 1,500 shares in the company, valued at $255,375. The trade was a 98.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,019,333 shares of company stock valued at $177,556,541. 7.92% of the stock is currently owned by company insiders.

Institutional Trading of DoorDash

A number of institutional investors and hedge funds have recently made changes to their positions in DASH. Baillie Gifford & Co. boosted its holdings in shares of 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 purchasing an additional 1,645,186 shares in the last quarter. Dragoneer Investment Group LLC lifted its position in shares of DoorDash by 77.9% during the 2nd 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 during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in 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 buying an additional 739,961 shares in the last quarter. Janus Henderson Group PLC grew its position in DoorDash by 14.5% in the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after acquiring an additional 700,465 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in DoorDash by 5,396.1% in the third quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock valued at $94,716,000 after acquiring an additional 651,525 shares during 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.