Roth Capital Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its price objective hoisted by equities research analysts at Roth Capital from $191.00 to $225.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Roth Capital’s price target would suggest a potential downside of 4.97% from the company’s current price.

Several other equities analysts have also recently weighed in on DASH. Wall Street Zen upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. Morgan Stanley dropped their price objective on shares of DoorDash from $245.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $230.00 target price on shares of DoorDash in a research report on Wednesday, May 7th. Stifel Nicolaus set a $198.00 price objective on shares of DoorDash and gave the stock a “hold” rating in a research report on Tuesday, June 10th. Finally, UBS Group cut their price objective on shares of DoorDash from $197.00 to $196.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $225.94.

DoorDash Price Performance

Shares of DASH stock opened at $236.77 on Monday. The firm has a market capitalization of $100.33 billion, a P/E ratio of 307.50 and a beta of 1.70. The company’s fifty day moving average price is $218.43 and its two-hundred day moving average price is $197.18. DoorDash has a 12 month low of $99.32 and a 12 month high of $248.74.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS 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 analyst estimates of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. DoorDash’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) EPS. On average, sell-side analysts anticipate that DoorDash will post 2.22 EPS for the current year.

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total value of $10,929,732.90. Following the completion of the sale, the director owned 26,070 shares of the company’s stock, valued at $6,274,788.30. The trade was a 63.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $217.52, for a total value of $6,525,600.00. Following the transaction, the director directly owned 22,545 shares of the company’s stock, valued at $4,903,988.40. This trade represents a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 429,031 shares of company stock valued at $94,584,086. 5.83% of the stock is owned by corporate insiders.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Saudi Central Bank acquired a new stake in DoorDash in the 1st quarter valued at about $25,000. WPG Advisers LLC acquired a new position in DoorDash in the first quarter valued at $26,000. Pacific Center for Financial Services acquired a new position in shares of DoorDash during the first quarter valued at about $27,000. Harbour Investments Inc. increased its stake in DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after buying an additional 70 shares during the last quarter. Finally, SouthState Corp increased its stake in shares of DoorDash by 762.5% during the 1st quarter. SouthState Corp now owns 207 shares of the company’s stock worth $38,000 after purchasing an additional 183 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.