Evercore ISI Raises DoorDash (NASDAQ:DASH) Price Target to $155.00

DoorDash (NASDAQ:DASH) had its target price increased by equities researchers at Evercore ISI from $145.00 to $155.00 in a report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price target would indicate a potential upside of 32.22% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. Needham & Company LLC lifted their target price on shares of DoorDash from $137.00 to $145.00 and gave the company a “buy” rating in a research note on Friday. Argus assumed coverage on shares of DoorDash in a research note on Tuesday, July 23rd. They issued a “hold” rating for the company. Barclays boosted their price objective on shares of DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday. Morgan Stanley boosted their price objective on shares of DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Citigroup boosted their price objective on shares of DoorDash from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $142.38.

DoorDash Trading Up 8.3 %

NASDAQ DASH opened at $117.23 on Friday. The stock’s 50 day moving average is $109.35 and its two-hundred day moving average is $118.35. The company has a market capitalization of $47.94 billion, a price-to-earnings ratio of -108.55, a PEG ratio of 40.25 and a beta of 1.67. DoorDash has a 1-year low of $69.90 and a 1-year high of $143.34.

DoorDash (NASDAQ:DASH) last posted its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.28). DoorDash had a negative net margin of 4.24% and a negative return on equity of 6.00%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the firm posted ($0.44) EPS. The business’s revenue was up 23.3% on a year-over-year basis. On average, analysts predict that DoorDash will post 0.07 earnings per share for the current year.

Insider Activity

In other news, General Counsel Tia Sherringham sold 11,740 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $110.46, for a total value of $1,296,800.40. Following the completion of the transaction, the general counsel now owns 183,512 shares of the company’s stock, valued at approximately $20,270,735.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Tia Sherringham sold 11,740 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $110.46, for a total value of $1,296,800.40. Following the completion of the transaction, the general counsel now directly owns 183,512 shares of the company’s stock, valued at approximately $20,270,735.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $113.40, for a total transaction of $5,670,000.00. Following the completion of the transaction, the director now directly owns 39,275 shares of the company’s stock, valued at $4,453,785. The disclosure for this sale can be found here. Insiders sold 459,016 shares of company stock valued at $50,325,396 in the last quarter. Company insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DASH. Raymond James & Associates boosted its stake in DoorDash by 25.9% in the 4th quarter. Raymond James & Associates now owns 15,805 shares of the company’s stock worth $1,563,000 after purchasing an additional 3,254 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in DoorDash by 55.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,866 shares of the company’s stock worth $1,965,000 after purchasing an additional 7,077 shares during the period. Global Retirement Partners LLC boosted its stake in DoorDash by 3,072.2% in the 4th quarter. Global Retirement Partners LLC now owns 571 shares of the company’s stock worth $59,000 after purchasing an additional 553 shares during the period. Arizona State Retirement System boosted its stake in DoorDash by 0.7% in the 4th quarter. Arizona State Retirement System now owns 72,046 shares of the company’s stock worth $7,125,000 after purchasing an additional 535 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in DoorDash by 11.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 37,861 shares of the company’s stock worth $3,764,000 after buying an additional 4,033 shares in the last quarter. 90.64% of the stock is 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.