DoorDash (NASDAQ:DASH) Price Target Raised to $250.00

DoorDash (NASDAQ:DASH) had its price objective raised by JMP Securities from $235.00 to $250.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Several other equities research analysts also recently issued reports on the company. DA Davidson raised their price target on DoorDash from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. BMO Capital Markets reaffirmed an “outperform” rating on shares of DoorDash in a report on Tuesday, April 29th. Stifel Nicolaus set a $198.00 price target on DoorDash and gave the stock a “hold” rating in a report on Tuesday, June 10th. Wedbush reissued an “outperform” rating on shares of DoorDash in a research report on Wednesday, May 7th. Finally, Bank of America boosted their target price on shares of DoorDash from $230.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, June 12th. Eleven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.97.

DoorDash Stock Up 0.2%

Shares of DoorDash stock opened at $235.02 on Tuesday. DoorDash has a 12-month low of $99.32 and a 12-month high of $248.74. The stock has a 50 day moving average price of $220.61 and a two-hundred day moving average price of $197.89. The stock has a market capitalization of $99.59 billion, a P/E ratio of 305.22 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) EPS. Sell-side analysts anticipate that DoorDash will post 2.22 earnings per share for the current year.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 44,244 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $220.71, for a total value of $9,765,093.24. Following the completion of the transaction, the chief executive officer directly owned 520,450 shares of the company’s stock, valued at approximately $114,868,519.50. The trade was a 7.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andy Fang sold 30,000 shares of the stock in a transaction 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 completion of the transaction, the director owned 22,545 shares in the company, valued at $4,903,988.40. The trade was a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 463,198 shares of company stock valued at $102,674,831. 5.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Hedge funds and other institutional investors have recently bought and sold shares of the business. Saudi Central Bank acquired a new stake in DoorDash in the first quarter worth $25,000. WPG Advisers LLC acquired a new position in DoorDash during the first quarter valued at approximately $26,000. Pacific Center for Financial Services acquired a new stake in shares of DoorDash in the 1st quarter valued at approximately $27,000. Harbour Investments Inc. grew its position in shares of 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 acquiring an additional 70 shares during the period. Finally, SouthState Corp grew its holdings in DoorDash by 762.5% during the first quarter. SouthState Corp now owns 207 shares of the company’s stock worth $38,000 after purchasing an additional 183 shares during the period. 90.64% of the stock is owned by institutional investors.

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.