Citigroup Boosts DoorDash (NASDAQ:DASH) Price Target to $144.00

DoorDash (NASDAQ:DASH) had its price target hoisted by Citigroup from $141.00 to $144.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on DASH. Susquehanna upped their target price on DoorDash from $110.00 to $135.00 and gave the stock a positive rating in a research report on Tuesday, February 20th. Wedbush restated a neutral rating and issued a $115.00 target price on shares of DoorDash in a report on Thursday. Roth Mkm reduced their target price on DoorDash from $121.00 to $118.00 and set a neutral rating for the company in a report on Thursday. The Goldman Sachs Group increased their price objective on DoorDash from $109.00 to $122.00 and gave the stock a neutral rating in a report on Friday, February 16th. Finally, Truist Financial cut their target price on DoorDash from $155.00 to $145.00 and set a buy rating on the stock in a report on Thursday. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $129.96.

DoorDash Stock Performance

DoorDash stock traded down $0.50 during trading on Thursday, hitting $113.81. The company’s stock had a trading volume of 6,210,790 shares, compared to its average volume of 4,293,060. The stock’s fifty day moving average is $131.86 and its 200 day moving average is $110.13. The stock has a market capitalization of $45.98 billion, a price-to-earnings ratio of -105.38, a P/E/G ratio of 13.07 and a beta of 1.78. DoorDash has a 1-year low of $60.36 and a 1-year high of $143.34.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.45 billion. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The company’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.41) earnings per share. On average, research analysts anticipate that DoorDash will post 0.17 EPS for the current fiscal year.

Insider Transactions at DoorDash

In related news, insider Keith Yandell sold 3,500 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $124.50, for a total transaction of $435,750.00. Following the completion of the sale, the insider now directly owns 161,102 shares in the company, valued at approximately $20,057,199. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other DoorDash news, insider Keith Yandell sold 3,500 shares of DoorDash stock in a transaction on Friday, March 1st. The stock was sold at an average price of $124.50, for a total transaction of $435,750.00. Following the completion of the transaction, the insider now owns 161,102 shares in the company, valued at $20,057,199. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tony Xu sold 132,300 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total value of $17,458,308.00. The disclosure for this sale can be found here. In the last three months, insiders sold 487,782 shares of company stock worth $64,046,807. 9.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of DoorDash during the fourth quarter worth $264,806,000. Vanguard Group Inc. grew its stake in shares of DoorDash by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after acquiring an additional 2,259,976 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of DoorDash by 294.5% during the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock worth $158,993,000 after acquiring an additional 1,200,181 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in DoorDash by 1,725.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after buying an additional 1,052,198 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in DoorDash by 40,319.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,039,592 shares of the company’s stock worth $102,805,000 after purchasing an additional 1,037,020 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

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.