DoorDash (NASDAQ:DASH) Price Target Raised to $320.00

DoorDash (NASDAQ:DASH) had its target price increased by Benchmark from $315.00 to $320.00 in a research report report published on Tuesday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on DASH. Guggenheim raised DoorDash to a “strong-buy” rating in a research report on Wednesday, October 15th. Mizuho set a $350.00 target price on shares of DoorDash and gave the company an “outperform” rating in a research note on Monday, September 29th. The Goldman Sachs Group started coverage on shares of DoorDash in a research note on Monday, October 27th. They issued a “buy” rating and a $315.00 price target for the company. DA Davidson boosted their price objective on shares of DoorDash from $190.00 to $260.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Finally, BMO Capital Markets raised their target price on shares of DoorDash from $238.00 to $288.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $283.15.

DoorDash Price Performance

Shares of DASH opened at $196.46 on Tuesday. DoorDash has a twelve month low of $155.40 and a twelve month high of $285.50. The company has a market capitalization of $83.93 billion, a P/E ratio of 99.73 and a beta of 1.70. The firm has a 50 day moving average of $259.57 and a 200 day moving average of $237.02. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.13). The business had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 10.31%. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 earnings per share. As a group, equities research analysts anticipate that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other DoorDash news, Director Andy Fang sold 30,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $244.39, for a total transaction of $7,331,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $244.39, for a total value of $11,097,749.90. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 876,527 shares of company stock worth $218,129,954 over the last three months. 5.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Night Squared LP purchased a new position in shares of DoorDash in the 1st quarter worth approximately $2,780,000. Mutual of America Capital Management LLC acquired a new stake in DoorDash in the first quarter valued at approximately $7,200,000. Public Investment Fund grew its holdings in DoorDash by 68.3% in the first quarter. Public Investment Fund now owns 821,389 shares of the company’s stock worth $150,125,000 after purchasing an additional 333,369 shares during the last quarter. Ardmore Road Asset Management LP increased its position in shares of DoorDash by 6.7% during the first quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company’s stock worth $14,622,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Junto Capital Management LP purchased a new stake in shares of DoorDash during the 1st quarter valued at $29,261,000. 90.64% of the stock is currently 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.