Barclays Boosts DoorDash (NASDAQ:DASH) Price Target to $120.00

DoorDash (NASDAQ:DASH) had its target price lifted by Barclays from $113.00 to $120.00 in a research note published on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

DASH has been the topic of several other reports. Piper Sandler reaffirmed a neutral rating and set a $125.00 target price (up from $115.00) on shares of DoorDash in a report on Friday. Argus started coverage on shares of DoorDash in a research note on Tuesday, July 23rd. They issued a hold rating on the stock. Loop Capital started coverage on shares of DoorDash in a research note on Friday, April 19th. They issued a buy rating and a $170.00 price objective on the stock. Wedbush reissued a neutral rating and issued a $115.00 price objective on shares of DoorDash in a research note on Friday. Finally, Redburn Atlantic started coverage on shares of DoorDash in a research note on Friday, July 26th. They issued a buy rating and a $170.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $142.81.

DoorDash Stock Up 2.5 %

Shares of DASH traded up $2.94 during mid-day trading on Friday, hitting $120.17. 5,440,458 shares of the company’s stock were exchanged, compared to its average volume of 4,069,262. DoorDash has a 52 week low of $69.90 and a 52 week high of $143.34. The stock’s 50-day simple moving average is $109.35 and its 200-day simple moving average is $118.46. The firm has a market cap of $49.14 billion, a price-to-earnings ratio of -110.39, a price-to-earnings-growth ratio of 40.25 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 6.00% and a negative net margin of 4.24%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the business posted ($0.44) earnings per share. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. Analysts forecast that DoorDash will post 0.07 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other news, insider Keith Yandell sold 12,088 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $111.84, for a total transaction of $1,351,921.92. Following the transaction, the insider now owns 161,651 shares of the company’s stock, valued at approximately $18,079,047.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Keith Yandell sold 12,088 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $111.84, for a total value of $1,351,921.92. Following the sale, the insider now owns 161,651 shares in the company, valued at approximately $18,079,047.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tony Xu sold 131,590 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $111.61, for a total transaction of $14,686,759.90. The disclosure for this sale can be found here. Insiders have sold 459,016 shares of company stock valued at $50,325,396 in the last 90 days. 7.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new stake in DoorDash in the 1st quarter valued at about $25,000. Venturi Wealth Management LLC increased its stake in shares of DoorDash by 54.5% during the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after purchasing an additional 90 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 259 shares during the last quarter. ORG Partners LLC increased its stake in shares of DoorDash by 2,108.3% during the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after purchasing an additional 253 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of DoorDash by 141.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock worth $38,000 after purchasing an additional 206 shares during the last quarter. Hedge funds and other institutional investors 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.