DoorDash (NASDAQ:DASH) Price Target Raised to $295.00 at KeyCorp

DoorDash (NASDAQ:DASH) had its price target boosted by KeyCorp from $235.00 to $295.00 in a report released on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $260.00 price target (up from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. Wall Street Zen upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Wells Fargo & Company increased their price target on shares of DoorDash from $198.00 to $239.00 and gave the company an “equal weight” rating in a research report on Monday, July 7th. Royal Bank Of Canada reiterated an “outperform” rating and set a $230.00 price target on shares of DoorDash in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $198.00 price target on shares of DoorDash and gave the company a “hold” rating in a research report on Tuesday, June 10th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $223.44.

DoorDash Trading Up 1.0%

DASH stock opened at $242.85 on Monday. The company’s 50 day moving average is $216.76 and its 200 day moving average is $196.39. The stock has a market cap of $102.91 billion, a price-to-earnings ratio of 315.39 and a beta of 1.70. DoorDash has a 1-year low of $99.32 and a 1-year high of $248.74.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data 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. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. DoorDash’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) earnings per share. As a group, sell-side analysts forecast that DoorDash will post 2.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 30,000 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $217.52, for a total value of $6,525,600.00. Following the completion of the transaction, the director owned 22,545 shares in the company, valued at approximately $4,903,988.40. This represents a 57.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ravi Inukonda sold 20,000 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $247.00, for a total value of $4,940,000.00. Following the completion of the transaction, the chief financial officer owned 245,530 shares of the company’s stock, valued at approximately $60,645,910. This trade represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 429,031 shares of company stock valued at $94,584,086 in the last 90 days. Corporate insiders own 5.83% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of institutional investors have recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC bought a new position in DoorDash in the second quarter worth $216,000. Gries Financial LLC purchased a new position in shares of DoorDash in the 2nd quarter worth about $223,000. GAMMA Investing LLC raised its position in shares of DoorDash by 123.5% in the 2nd quarter. GAMMA Investing LLC now owns 4,295 shares of the company’s stock worth $1,059,000 after purchasing an additional 2,373 shares during the last quarter. Farmers & Merchants Investments Inc. purchased a new position in shares of DoorDash in the 2nd quarter worth about $52,000. Finally, Avanza Fonder AB raised its position in shares of DoorDash by 45.2% in the 2nd quarter. Avanza Fonder AB now owns 34,741 shares of the company’s stock worth $8,564,000 after purchasing an additional 10,807 shares during the last quarter. 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.