DoorDash (NASDAQ:DASH) Given New $205.00 Price Target at Bank of America

DoorDash (NASDAQ:DASH) had its target price hoisted by research analysts at Bank of America from $172.00 to $205.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price suggests a potential upside of 11.83% from the company’s current price.

A number of other analysts also recently issued reports on DASH. Needham & Company LLC increased their price target on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Benchmark increased their target price on shares of DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company lifted their price target on DoorDash from $150.00 to $166.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Morgan Stanley increased their price target on DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Oppenheimer boosted their price objective on DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $176.97.

DoorDash Stock Up 0.1 %

Shares of DASH stock opened at $183.32 on Thursday. DoorDash has a 52-week low of $99.32 and a 52-week high of $184.26. The stock has a market cap of $76.15 billion, a PE ratio of -407.38, a price-to-earnings-growth ratio of 1.85 and a beta of 1.71. The business has a 50-day simple moving average of $174.13 and a 200-day simple moving average of $148.18.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the business earned ($0.19) earnings per share. DoorDash’s quarterly revenue was up 25.0% on a year-over-year basis. Sell-side analysts anticipate that DoorDash will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $172.67, for a total value of $8,633,500.00. Following the sale, the director now owns 18,089 shares in the company, valued at approximately $3,123,427.63. The trade was a 73.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $170.25, for a total value of $18,443,523.00. Following the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $255,375. This trade represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,019,333 shares of company stock worth $177,556,541. 7.92% of the stock is currently owned by insiders.

Institutional Trading of DoorDash

Hedge funds have recently made changes to their positions in the business. Calamos Advisors LLC grew its holdings in shares of DoorDash by 11.6% in the fourth quarter. Calamos Advisors LLC now owns 173,664 shares of the company’s stock valued at $29,132,000 after purchasing an additional 18,100 shares in the last quarter. Catalina Capital Group LLC acquired a new position in shares of DoorDash in the fourth quarter worth $201,000. Princeton Global Asset Management LLC purchased a new stake in shares of DoorDash during the fourth quarter worth $34,000. Spire Wealth Management raised its stake in shares of DoorDash by 67.2% in the fourth quarter. Spire Wealth Management now owns 637 shares of the company’s stock valued at $107,000 after acquiring an additional 256 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in DoorDash by 7.0% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,222 shares of the company’s stock valued at $1,715,000 after purchasing an additional 671 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.