DoorDash (NASDAQ:DASH) Price Target Raised to $220.00

DoorDash (NASDAQ:DASH) had its target price hoisted by Wolfe Research from $210.00 to $220.00 in a research report report published on Friday,Benzinga reports. Wolfe Research currently has an outperform rating on the stock.

Several other research firms also recently weighed in on DASH. Loop Capital boosted their target price on DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Mizuho raised their target price on shares of DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. The Goldman Sachs Group lifted their price target on shares of DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Barclays increased their price objective on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, Argus upgraded DoorDash from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and a consensus target price of $171.42.

DoorDash Stock Up 2.5 %

DASH stock opened at $174.96 on Friday. The company has a fifty day simple moving average of $171.36 and a two-hundred day simple moving average of $141.93. The firm has a market capitalization of $72.68 billion, a P/E ratio of -388.80, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70. DoorDash has a 52 week low of $93.33 and a 52 week high of $181.78.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the firm earned ($0.19) EPS. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, analysts anticipate that DoorDash will post 0.26 EPS for the current year.

Insider Activity

In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at $2,710,274.87. This represents a 73.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Tony Xu sold 81,249 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,082,694 shares of company stock worth $183,152,786. Corporate insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rakuten Securities Inc. increased its stake in DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of DoorDash in the 2nd quarter valued at $32,000. Meeder Asset Management Inc. increased its position in shares of DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 132 shares during the period. Quest Partners LLC raised its stake in DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 204 shares during the last quarter. Finally, Hollencrest Capital Management acquired a new stake in DoorDash during the 3rd quarter worth about $54,000. 90.64% of the stock is 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.