DA Davidson Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its price objective boosted by equities researchers at DA Davidson from $190.00 to $260.00 in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s price target points to a potential downside of 0.07% from the company’s current price.

Several other research firms have also issued reports on DASH. BTIG Research increased their price objective on DoorDash from $225.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, July 1st. Susquehanna upped their target price on shares of DoorDash from $235.00 to $300.00 and gave the stock a “positive” rating in a report on Monday, August 11th. 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. Wells Fargo & Company boosted their price target on shares of DoorDash from $280.00 to $306.00 and gave the company an “equal weight” rating in a research report on Friday, September 5th. Finally, Stifel Nicolaus upped their price objective on shares of DoorDash from $214.00 to $239.00 and gave the stock a “hold” rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.71.

DoorDash Stock Performance

NASDAQ:DASH opened at $260.19 on Wednesday. The firm has a market capitalization of $111.15 billion, a PE ratio of 144.55 and a beta of 1.70. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash has a 12-month low of $126.90 and a 12-month high of $278.15. The firm has a 50-day moving average price of $247.83 and a 200 day moving average price of $215.48.

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

Insider Transactions at DoorDash

In other news, COO Prabir Adarkar sold 41,881 shares of DoorDash stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the completion of the sale, the chief operating officer owned 914,547 shares in the company, valued at $224,813,943.54. The trade was a 4.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stanley Tang sold 45,410 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the sale, the director directly owned 26,070 shares of the company’s stock, valued at approximately $6,274,788.30. This trade represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,019,042 shares of company stock worth $248,122,219 in the last ninety days. 5.83% of the stock is currently owned by insiders.

Institutional Trading of DoorDash

Institutional investors have recently bought and sold shares of the business. Gilbert & Cook Inc. lifted its stake in shares of DoorDash by 2.6% in the 2nd quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company’s stock valued at $415,000 after purchasing an additional 42 shares during the period. Perigon Wealth Management LLC lifted its stake in DoorDash by 1.3% in the second quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company’s stock valued at $912,000 after buying an additional 46 shares during the period. Advisory Resource Group lifted its stake in DoorDash by 0.8% in the second quarter. Advisory Resource Group now owns 5,774 shares of the company’s stock valued at $1,423,000 after buying an additional 48 shares during the period. Yeomans Consulting Group Inc. boosted its holdings in DoorDash by 3.9% during the second quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company’s stock worth $326,000 after buying an additional 51 shares during the last quarter. Finally, SageView Advisory Group LLC increased its stake in shares of DoorDash by 3.6% in the 2nd quarter. SageView Advisory Group LLC now owns 1,486 shares of the company’s stock valued at $366,000 after acquiring an additional 51 shares during the last quarter. Institutional investors and hedge funds 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.