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

DoorDash (NASDAQ:DASH) had its price target raised by Barclays from $120.00 to $163.00 in a research report sent to investors on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other research firms have also issued reports on DASH. JMP Securities increased their price target on shares of DoorDash from $160.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday. BMO Capital Markets increased their price target on shares of DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday. 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 research report on Wednesday, September 25th. KeyCorp raised their target price on shares of DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of DoorDash in a research report on Monday, October 7th. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $163.12.

DoorDash Stock Down 0.7 %

Shares of DASH traded down $1.04 during mid-day trading on Friday, hitting $155.66. 4,092,814 shares of the company’s stock were exchanged, compared to its average volume of 3,844,751. The firm has a market cap of $64.06 billion, a price-to-earnings ratio of -345.91, a price-to-earnings-growth ratio of 331.02 and a beta of 1.70. The stock’s 50-day simple moving average is $140.40 and its 200-day simple moving average is $124.21. DoorDash has a 52 week low of $83.58 and a 52 week high of $165.07.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.17. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.46%. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.19) EPS. Analysts forecast that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Shona L. Brown sold 5,005 shares of DoorDash stock in a transaction on Monday, August 5th. The shares were sold at an average price of $120.00, for a total transaction of $600,600.00. Following the completion of the transaction, the director now owns 65,186 shares of the company’s stock, valued at $7,822,320. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other DoorDash news, Director Shona L. Brown sold 5,005 shares of DoorDash stock in a transaction on Monday, August 5th. The shares were sold at an average price of $120.00, for a total value of $600,600.00. Following the completion of the sale, the director now directly owns 65,186 shares of the company’s stock, valued at approximately $7,822,320. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the sale, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 383,710 shares of company stock valued at $53,725,640 over the last quarter. Insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several hedge funds and other institutional investors have recently bought and sold shares of DASH. Janus Henderson Group PLC grew its holdings in shares of DoorDash by 11,416.7% during the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after buying an additional 3,425,115 shares during the last quarter. Dragoneer Investment Group LLC grew 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 valued at $309,755,000 after buying an additional 1,246,567 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of DoorDash by 595.2% during the first quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock valued at $122,830,000 after buying an additional 763,579 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of DoorDash by 216.1% during 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 during the last quarter. Finally, Jupiter Asset Management Ltd. grew its holdings in shares of DoorDash by 3,284.7% during the second quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock valued at $79,385,000 after buying an additional 708,218 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

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.