DoorDash, Inc. (NASDAQ:DASH) Receives $168.39 Consensus Price Target from Analysts

Shares of DoorDash, Inc. (NASDAQ:DASH) have earned an average recommendation of “Moderate Buy” from the thirty-four analysts that are covering the stock, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation and twenty-five have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $168.39.

Several brokerages recently weighed in on DASH. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target for the company in a research report on Wednesday, September 25th. Loop Capital lifted their target price on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Barclays increased their price target on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Jefferies Financial Group lifted their price objective on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC increased their target price on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st.

DoorDash Trading Down 0.7 %

DASH opened at $169.34 on Tuesday. DoorDash has a 12-month low of $93.33 and a 12-month high of $181.78. The firm has a 50 day moving average of $169.61 and a two-hundred day moving average of $139.74. The firm has a market capitalization of $70.34 billion, a PE ratio of -376.31, a P/E/G ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued its 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 firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm’s revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.19) earnings per share. As a group, analysts predict that DoorDash will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Tony Xu sold 108,332 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $178.74, for a total transaction of $19,363,261.68. Following the completion of the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $268,110. This trade represents a 98.63 % decrease in their position. 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 the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $143.76, for a total value of $7,188,000.00. Following the completion of the sale, the director now directly owns 18,089 shares in the company, valued at approximately $2,600,474.64. The trade was a 73.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 897,362 shares of company stock valued at $151,625,589 over the last quarter. 7.92% of the stock is owned by insiders.

Hedge Funds Weigh In On DoorDash

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of DoorDash by 25.0% during the third quarter. Principal Financial Group Inc. now owns 90,786 shares of the company’s stock worth $12,958,000 after purchasing an additional 18,155 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in DoorDash by 1.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 750,119 shares of the company’s stock worth $107,064,000 after buying an additional 8,195 shares in the last quarter. Franklin Resources Inc. boosted its position in DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after buying an additional 501,905 shares during the period. Tri Ri Asset Management Corp acquired a new position in shares of DoorDash in the third quarter worth $6,250,000. Finally, Tidal Investments LLC increased its position in shares of DoorDash by 19.9% during the third quarter. Tidal Investments LLC now owns 12,321 shares of the company’s stock worth $1,759,000 after acquiring an additional 2,049 shares during the period. 90.64% of the stock is currently owned by hedge funds and other 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.