DoorDash (NASDAQ:DASH) Price Target Raised to $214.00

DoorDash (NASDAQ:DASH) had its target price boosted by Stifel Nicolaus from $198.00 to $214.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other analysts have also recently weighed in on the stock. Truist Financial upped their price objective on shares of DoorDash from $230.00 to $272.00 and gave the stock a “buy” rating in a research note on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $260.00 price objective (up from $210.00) on shares of DoorDash in a research note on Wednesday, June 25th. Oppenheimer upped their price objective 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. Benchmark upped their price objective on shares of DoorDash from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $230.00 price objective on shares of DoorDash in a research note on Wednesday, May 7th. Eleven 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. Based on data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and a consensus target price of $235.56.

DoorDash Stock Up 0.9%

NASDAQ:DASH opened at $250.25 on Tuesday. DoorDash has a 12-month low of $105.91 and a 12-month high of $252.87. The firm has a market capitalization of $106.04 billion, a PE ratio of 325.00 and a beta of 1.70. The firm has a 50-day moving average price of $229.80 and a 200 day moving average price of $202.92.

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

Insider Buying and Selling at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 62,267 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $202.67, for a total value of $12,619,652.89. Following the sale, the chief operating officer directly owned 942,554 shares in the company, valued at approximately $191,027,419.18. This trade represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $6,525,600.00. Following the completion of the sale, the director owned 22,545 shares in the company, valued at approximately $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. Insiders sold a total of 508,127 shares of company stock valued at $115,087,539 in the last three months. Insiders own 5.83% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Hedge funds have recently bought and sold shares of the company. Saudi Central Bank acquired a new stake in DoorDash in the first quarter worth $25,000. WPG Advisers LLC acquired a new stake in DoorDash in the first quarter worth $26,000. Pacific Center for Financial Services acquired a new stake in DoorDash in the first quarter worth $27,000. GFG Capital LLC acquired a new stake in DoorDash in the second quarter worth $30,000. Finally, Harbour Investments Inc. raised its holdings in DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock worth $36,000 after purchasing an additional 70 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.