DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

DoorDash (NASDAQ:DASH) had its price target increased by Royal Bank of Canada from $175.00 to $215.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 22.24% from the company’s previous close.

A number of other brokerages also recently commented on DASH. JPMorgan Chase & Co. increased their price objective on shares of DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of DoorDash in a research report on Monday, October 7th. Barclays increased their price objective on shares of DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Truist Financial increased their price objective on shares of DoorDash from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company upped their target price on shares of DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, October 4th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $167.27.

DoorDash Stock Performance

Shares of DoorDash stock traded down $0.99 on Friday, reaching $175.89. The company had a trading volume of 1,985,333 shares, compared to its average volume of 3,759,437. DoorDash has a 52-week low of $93.33 and a 52-week high of $181.30. The firm’s 50 day moving average price is $160.85 and its two-hundred day moving average price is $132.76. The firm has a market cap of $73.06 billion, a PE ratio of -390.87, a PEG ratio of 13.54 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping 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 the consensus estimate of $2.66 billion. During the same period in the prior year, the firm earned ($0.19) EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, sell-side analysts predict that DoorDash will post 0.26 EPS for the current year.

Insider Activity

In other DoorDash news, insider Keith Yandell sold 7,980 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $1,356,440.40. Following the sale, the insider now directly owns 124,221 shares in the company, valued at approximately $21,115,085.58. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was 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 owns 18,089 shares in the company, valued at approximately $2,355,187.80. This trade represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 838,722 shares of company stock valued at $136,732,309. 7.92% of the stock is currently owned by company insiders.

Institutional Trading of DoorDash

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. raised its holdings in DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after buying an additional 1,645,186 shares during the period. State Street Corp increased its holdings in shares of DoorDash by 3.8% in the 3rd quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after purchasing an additional 272,659 shares during the period. Janus Henderson Group PLC grew its stake in shares of DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after buying an additional 700,465 shares in the last quarter. Geode Capital Management LLC boosted its position in DoorDash by 6.4% during the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after purchasing an additional 267,855 shares during the period. Finally, Franklin Resources Inc. boosted its position in DoorDash by 15.2% during the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after purchasing an additional 501,905 shares during the period. Institutional investors and hedge funds 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.