DoorDash (NASDAQ:DASH) Hits New 52-Week High on Analyst Upgrade

DoorDash, Inc. (NASDAQ:DASH) shares hit a new 52-week high during trading on Thursday after Oppenheimer raised their price target on the stock from $310.00 to $350.00. Oppenheimer currently has an outperform rating on the stock. DoorDash traded as high as $285.50 and last traded at $282.12, with a volume of 237051 shares trading hands. The stock had previously closed at $272.61.

Several other brokerages have also recently commented on DASH. Wall Street Zen raised shares of DoorDash from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. UBS Group boosted their price target on DoorDash from $260.00 to $280.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Guggenheim upgraded DoorDash to a “strong-buy” rating in a report on Wednesday. Benchmark lifted their price objective on shares of DoorDash from $260.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, Sanford C. Bernstein lifted their price objective on shares of DoorDash from $210.00 to $265.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $282.47.

Insider Activity

In other news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the completion of the transaction, the director directly owned 22,545 shares in the company, valued at approximately $6,216,558.30. The trade was a 68.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total value of $69,409,280.57. Following the sale, the chief executive officer directly owned 229,047 shares in the company, valued at $54,556,704.93. The trade was a 55.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 993,105 shares of company stock worth $248,566,566 in the last quarter. Company insiders own 5.83% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. LeConte Wealth Management LLC increased its holdings in shares of DoorDash by 31.0% during the third quarter. LeConte Wealth Management LLC now owns 1,421 shares of the company’s stock valued at $386,000 after purchasing an additional 336 shares during the period. Highland Capital Management LLC bought a new position in DoorDash in the 3rd quarter valued at about $2,397,000. Regent Peak Wealth Advisors LLC acquired a new stake in shares of DoorDash in the 3rd quarter worth approximately $221,000. Blue Trust Inc. lifted its stake in shares of DoorDash by 28.7% in the 3rd quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock worth $836,000 after acquiring an additional 685 shares during the period. Finally, Yeomans Consulting Group Inc. lifted its stake in shares of DoorDash by 4.3% in the 3rd quarter. Yeomans Consulting Group Inc. now owns 1,428 shares of the company’s stock worth $382,000 after acquiring an additional 59 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Stock Performance

The stock has a market cap of $113.92 billion, a P/E ratio of 148.15 and a beta of 1.71. The company has a fifty day moving average of $259.23 and a 200 day moving average of $229.01. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07.

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

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.