DoorDash (NASDAQ:DASH) Given New $160.00 Price Target at JMP Securities

DoorDash (NASDAQ:DASH) had its target price hoisted by equities research analysts at JMP Securities from $145.00 to $160.00 in a report released on Monday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target would indicate a potential upside of 12.17% from the stock’s current price.

DASH has been the topic of several other research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of DoorDash in a research report on Monday, September 23rd. BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Thursday, September 19th. Keefe, Bruyette & Woods upgraded shares of 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. Raymond James initiated coverage on shares of DoorDash in a research note on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price target for the company. Finally, Morgan Stanley upped their price objective on DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $146.44.

DoorDash Stock Up 0.3 %

NASDAQ:DASH traded up $0.41 on Monday, hitting $142.64. The stock had a trading volume of 85,007 shares, compared to its average volume of 3,925,539. The company has a market cap of $58.33 billion, a PE ratio of -132.01, a P/E/G ratio of 295.70 and a beta of 1.69. DoorDash has a 52 week low of $69.90 and a 52 week high of $146.36. The business’s fifty day moving average is $125.10 and its 200 day moving average is $121.82.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. DoorDash’s revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.44) EPS. Equities analysts predict that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the completion of the sale, the director now owns 19,982 shares of the company’s stock, valued at approximately $2,109,499.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $104.96, for a total transaction of $5,685,263.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the completion of the sale, the director now directly owns 19,982 shares of the company’s stock, valued at $2,109,499.74. The disclosure for this sale can be found here. Insiders sold 281,503 shares of company stock worth $33,988,063 in the last ninety days. 7.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoorDash

A number of institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LLC grew its holdings in shares of DoorDash by 4.2% during the 4th quarter. Corient Private Wealth LLC now owns 8,015 shares of the company’s stock worth $793,000 after acquiring an additional 320 shares during the period. US Bancorp DE boosted its position in shares of DoorDash by 9.1% in the 4th quarter. US Bancorp DE now owns 6,874 shares of the company’s stock worth $680,000 after purchasing an additional 573 shares in the last quarter. Orion Portfolio Solutions LLC bought a new position in DoorDash during the 4th quarter valued at approximately $466,000. California State Teachers Retirement System raised its stake in DoorDash by 2.0% during the fourth quarter. California State Teachers Retirement System now owns 421,102 shares of the company’s stock valued at $41,643,000 after buying an additional 8,158 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its holdings in DoorDash by 150.1% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 6,617 shares of the company’s stock worth $654,000 after acquiring an additional 3,971 shares in the last quarter. 90.64% of the stock is 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.