UBS Group Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its price target upped by equities researchers at UBS Group from $196.00 to $260.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 4.84% from the stock’s previous close.

A number of other research firms have also commented on DASH. Benchmark upped their price target on shares of DoorDash from $225.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Needham & Company LLC upped their price target on shares of DoorDash from $225.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. KeyCorp upped their price target on shares of DoorDash from $235.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Sanford C. Bernstein upped their price target on shares of DoorDash from $210.00 to $265.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Finally, Wedbush reiterated an “outperform” rating on shares of DoorDash in a report on Wednesday, May 7th. Eleven investment 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’s stock. Based on data from MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and an average target price of $235.56.

DoorDash Stock Performance

DASH stock opened at $248.00 on Tuesday. The company has a market capitalization of $105.09 billion, a PE ratio of 322.08 and a beta of 1.70. DoorDash has a one year low of $105.91 and a one year high of $250.71. The company’s 50 day moving average price is $228.81 and its two-hundred day moving average price is $202.36.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the business posted ($0.06) EPS. The firm’s revenue was up 20.7% compared to the same quarter last year. On average, research analysts predict that DoorDash will post 2.22 EPS for the current year.

Insider Activity

In other news, Director Andy Fang sold 30,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $240.66, for a total transaction of $7,219,800.00. Following the sale, the director owned 22,545 shares in the company, valued at $5,425,679.70. This represents a 57.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $244.78, for a total transaction of $348,811.50. Following the transaction, the chief financial officer owned 244,905 shares in the company, valued at $59,947,845.90. This represents a 0.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 508,189 shares of company stock valued at $115,099,939. Company insiders own 5.83% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC lifted its stake in DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after acquiring an additional 1,807 shares during the period. Flagship Harbor Advisors LLC lifted its stake in DoorDash by 14.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company’s stock valued at $299,000 after acquiring an additional 206 shares during the period. GAMMA Investing LLC lifted its stake in DoorDash by 70.4% during the 1st quarter. GAMMA Investing LLC now owns 1,922 shares of the company’s stock valued at $351,000 after acquiring an additional 794 shares during the period. Park Avenue Securities LLC lifted its stake in DoorDash by 9.3% during the 1st quarter. Park Avenue Securities LLC now owns 10,017 shares of the company’s stock valued at $1,831,000 after acquiring an additional 850 shares during the period. Finally, Sowell Financial Services LLC bought a new position in shares of DoorDash in the 1st quarter worth approximately $222,000. 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.