DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, JMP Securities Analyst Says

DoorDash (NASDAQ:DASH) had its price target lifted by investment analysts at JMP Securities from $225.00 to $235.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target points to a potential upside of 7.33% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on DASH. Roth Mkm lifted their price target on shares of DoorDash from $165.00 to $193.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Benchmark lifted their price target on DoorDash from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. FBN Securities began coverage on DoorDash in a research report on Friday, March 28th. They set an “outperform” rating and a $230.00 price objective for the company. The Goldman Sachs Group increased their price target on shares of DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Finally, Loop Capital boosted their target price on DoorDash from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Eleven research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.21.

DoorDash Stock Up 1.1%

Shares of DoorDash stock opened at $218.96 on Thursday. The firm has a market capitalization of $92.78 billion, a P/E ratio of 810.96 and a beta of 1.67. The company has a 50 day moving average price of $196.51 and a 200 day moving average price of $187.78. DoorDash has a 52 week low of $99.32 and a 52 week high of $220.88.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the company earned ($0.06) EPS. DoorDash’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, research analysts anticipate that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Activity

In other DoorDash news, insider Keith Yandell sold 5,410 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $204.53, for a total value of $1,106,507.30. Following the transaction, the insider now directly owns 104,922 shares in the company, valued at $21,459,696.66. This represents a 4.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 14,715 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $196.52, for a total transaction of $2,891,791.80. Following the transaction, the chief financial officer now owns 338,055 shares in the company, valued at approximately $66,434,568.60. This represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 298,030 shares of company stock worth $59,433,406 over the last three months. 5.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DASH. Vanguard Group Inc. boosted its position in DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after acquiring an additional 8,073,882 shares during the last quarter. Norges Bank acquired a new position in shares of DoorDash in the 4th quarter valued at $597,443,000. Capital World Investors boosted its stake in DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of DoorDash by 67.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock valued at $780,858,000 after acquiring an additional 1,869,866 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of DoorDash by 442.5% in the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after purchasing an additional 1,497,636 shares in 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.