DoorDash (NASDAQ:DASH) PT Raised to $160.00

DoorDash (NASDAQ:DASH) had its target price raised by equities research analysts at JMP Securities from $130.00 to $160.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target indicates a potential upside of 16.18% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. UBS Group reduced their price target on DoorDash from $123.00 to $118.00 and set a “neutral” rating for the company in a report on Friday, February 16th. BMO Capital Markets upped their price target on DoorDash from $120.00 to $138.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Mizuho boosted their price objective on DoorDash from $140.00 to $152.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Wells Fargo & Company cut their price objective on DoorDash from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, February 16th. Finally, Truist Financial boosted their price objective on DoorDash from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $123.82.

DoorDash Stock Down 0.8 %

Shares of DASH stock opened at $137.72 on Wednesday. The stock has a market cap of $55.64 billion, a PE ratio of -96.31, a price-to-earnings-growth ratio of 16.44 and a beta of 1.78. The business has a 50-day simple moving average of $121.91 and a 200-day simple moving average of $100.48. DoorDash has a 52-week low of $56.59 and a 52-week high of $143.34.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.24). The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.25 billion. DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.63) EPS. Sell-side analysts anticipate that DoorDash will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Gordon S. Lee sold 1,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $124.50, for a total value of $124,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 92,207 shares in the company, valued at $11,479,771.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other DoorDash news, CEO Tony Xu sold 132,300 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $104.93, for a total transaction of $13,882,239.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Gordon S. Lee sold 1,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $124.50, for a total value of $124,500.00. Following the transaction, the chief accounting officer now owns 92,207 shares in the company, valued at $11,479,771.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 519,087 shares of company stock worth $58,139,690. Company insiders own 9.59% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Versor Investments LP acquired a new position in DoorDash during the third quarter worth $556,000. Assenagon Asset Management S.A. lifted its stake in DoorDash by 1,725.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock worth $110,082,000 after purchasing an additional 1,052,198 shares in the last quarter. Angeles Investment Advisors LLC acquired a new stake in shares of DoorDash in the third quarter valued at $336,000. Bank of Nova Scotia raised its stake in shares of DoorDash by 685.9% in the third quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock valued at $3,715,000 after acquiring an additional 40,802 shares in the last quarter. Finally, Jump Financial LLC raised its stake in shares of DoorDash by 131.3% in the third quarter. Jump Financial LLC now owns 15,841 shares of the company’s stock valued at $1,259,000 after acquiring an additional 8,993 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.