Evercore ISI Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its target price increased by equities researchers at Evercore ISI from $240.00 to $360.00 in a research note issued on Friday, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price target would indicate a potential upside of 40.75% from the company’s current price.

A number of other equities analysts have also weighed in on DASH. Bank of America lifted their price target on shares of DoorDash from $230.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, June 12th. Roth Capital lifted their price target on shares of DoorDash from $191.00 to $225.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Needham & Company LLC set a $300.00 target price on shares of DoorDash and gave the company a “buy” rating in a report on Thursday. Truist Financial lifted their target price on shares of DoorDash from $272.00 to $326.00 and gave the company a “buy” rating in a report on Thursday. Finally, JMP Securities lifted their target price on shares of DoorDash from $250.00 to $335.00 and gave the company a “market outperform” rating in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $263.88.

DoorDash Price Performance

Shares of DASH traded down $3.41 during mid-day trading on Friday, reaching $255.78. 1,985,599 shares of the company’s stock were exchanged, compared to its average volume of 4,775,293. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The company has a 50-day simple moving average of $236.11 and a two-hundred day simple moving average of $206.81. DoorDash has a 52-week low of $121.44 and a 52-week high of $278.15. The company has a market cap of $108.38 billion, a price-to-earnings ratio of 142.09 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.23. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. DoorDash’s revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.38) earnings per share. On average, sell-side analysts predict that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Shona L. Brown sold 825 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $250.00, for a total transaction of $206,250.00. Following the sale, the director owned 43,477 shares in the company, valued at $10,869,250. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tony Xu sold 4,042 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $250.28, for a total transaction of $1,011,631.76. Following the sale, the chief executive officer owned 520,450 shares in the company, valued at approximately $130,258,226. This trade represents a 0.77% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 583,537 shares of company stock worth $133,720,004. 5.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DoorDash

Several institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC raised its stake in DoorDash by 589.7% during the second quarter. Empowered Funds LLC now owns 56,073 shares of the company’s stock worth $13,823,000 after acquiring an additional 47,943 shares during the period. Vanguard Group Inc. grew its position in DoorDash by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock worth $10,153,768,000 after purchasing an additional 1,792,799 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in DoorDash by 81.7% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 2,353 shares of the company’s stock worth $580,000 after purchasing an additional 1,058 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in DoorDash by 27.3% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 1,715 shares of the company’s stock worth $423,000 after purchasing an additional 368 shares during the last quarter. Finally, Rothschild Investment LLC grew its position in DoorDash by 75.8% in the 2nd quarter. Rothschild Investment LLC now owns 464 shares of the company’s stock worth $114,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.