DoorDash (NASDAQ:DASH) Price Target Raised to $265.00 at Sanford C. Bernstein

DoorDash (NASDAQ:DASH) had its price target hoisted by Sanford C. Bernstein from $210.00 to $265.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts have also weighed in on the stock. BMO Capital Markets restated an “outperform” rating on shares of DoorDash in a report on Tuesday, April 29th. DA Davidson lifted their price objective on shares of DoorDash from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Roth Capital lifted their price objective on shares of DoorDash from $191.00 to $225.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Oppenheimer boosted their price target on shares of DoorDash from $220.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, June 30th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $230.00 target price on shares of DoorDash in a research report on Wednesday, May 7th. Twelve investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.34.

DoorDash Stock Up 0.6%

DASH stock opened at $240.53 on Monday. DoorDash has a 52-week low of $99.32 and a 52-week high of $248.74. The company’s 50-day simple moving average is $221.73 and its 200-day simple moving average is $198.79. The firm has a market cap of $101.92 billion, a P/E ratio of 312.38 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The company 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) EPS. On average, analysts anticipate that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, Director Shona L. Brown sold 1,250 shares of the stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $244.99, for a total value of $306,237.50. Following the completion of the sale, the director directly owned 44,302 shares of the company’s stock, valued at $10,853,546.98. This represents a 2.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Tony Xu sold 34,167 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $236.80, for a total transaction of $8,090,745.60. Following the completion of the transaction, the chief executive officer owned 520,450 shares of the company’s stock, valued at approximately $123,242,560. This represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 463,198 shares of company stock valued at $102,674,831. 5.83% of the stock is owned by company insiders.

Institutional Trading of DoorDash

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock valued at $7,200,642,000 after purchasing an additional 8,073,882 shares during the last quarter. Capital World Investors grew its stake in shares of DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock valued at $2,038,712,000 after buying an additional 2,538,160 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in DoorDash by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock worth $897,031,000 after purchasing an additional 641,601 shares during the period. Invesco Ltd. boosted its position in DoorDash by 41.9% during the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock worth $877,269,000 after purchasing an additional 1,416,194 shares during the period. Finally, Franklin Resources Inc. boosted its position in DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock worth $796,781,000 after purchasing an additional 949,414 shares during the period. 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.