DoorDash (NASDAQ:DASH) Price Target Raised to $315.00

DoorDash (NASDAQ:DASH) had its price objective upped by Benchmark from $260.00 to $315.00 in a report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group restated a “hold” rating and issued a $250.00 price target (up from $235.00) on shares of DoorDash in a research note on Tuesday, July 15th. Roth Capital increased their price objective on shares of DoorDash from $191.00 to $225.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Citigroup reiterated an “outperform” rating on shares of DoorDash in a research note on Thursday, June 12th. Morgan Stanley reiterated an “overweight” rating and set a $275.00 price objective (up from $220.00) on shares of DoorDash in a research note on Monday, July 21st. Finally, Truist Financial increased 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, July 29th. Twelve analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $259.18.

DoorDash Trading Down 4.4%

DASH stock opened at $259.19 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.72 and a current ratio of 2.07. The company’s 50-day simple moving average is $236.11 and its 200 day simple moving average is $206.65. DoorDash has a 52 week low of $121.44 and a 52 week high of $278.15. The company has a market capitalization of $109.83 billion, a PE ratio of 144.00 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the company posted ($0.38) earnings per share. DoorDash’s revenue was up 24.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that DoorDash will post 2.22 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 30,000 shares of the firm’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 completion of the transaction, the director owned 22,545 shares in the company, valued at $4,903,988.40. This trade represents a 57.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tony Xu sold 44,244 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the completion of the transaction, the chief executive officer owned 520,450 shares of the company’s stock, valued at approximately $114,868,519.50. This trade represents a 7.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 583,537 shares of company stock worth $133,720,004 in the last 90 days. Corporate insiders own 5.83% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DASH. Vanguard Group Inc. raised its holdings in DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares during the last quarter. Capital World Investors raised its holdings in DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares during the last quarter. AQR Capital Management LLC raised its holdings in DoorDash by 442.5% during the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock worth $321,799,000 after purchasing an additional 1,497,636 shares during the last quarter. Invesco Ltd. raised its holdings in DoorDash by 41.9% during the 1st 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 last quarter. Finally, Nuveen LLC bought a new position in DoorDash during the 1st quarter worth approximately $211,415,000. 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.