DoorDash (NASDAQ:DASH) Given New $161.00 Price Target at The Goldman Sachs Group

DoorDash (NASDAQ:DASH) had its price objective lifted by stock analysts at The Goldman Sachs Group from $142.00 to $161.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 3.12% from the company’s previous close.

Several other equities research analysts also recently weighed in on DASH. Wedbush reiterated a “neutral” rating and set a $115.00 target price on shares of DoorDash in a report on Friday, August 2nd. Royal Bank of Canada increased their price objective on DoorDash from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday. Susquehanna raised their price target on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a report on Friday. Needham & Company LLC upped their price objective on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Roth Mkm lifted their target price on DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $163.12.

DoorDash Price Performance

DoorDash stock traded down $0.57 during trading on Friday, reaching $156.13. 1,920,049 shares of the company were exchanged, compared to its average volume of 3,834,508. The stock’s 50 day simple moving average is $139.86 and its two-hundred day simple moving average is $124.05. The company has a market capitalization of $64.25 billion, a P/E ratio of -346.96, a PEG ratio of 331.02 and a beta of 1.70. DoorDash has a 52-week low of $83.58 and a 52-week high of $165.07.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.46%. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash’s revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.19) EPS. As a group, equities analysts forecast that DoorDash will post 0.01 earnings per share for the current year.

Insider Activity at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 32,124 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the sale, the chief operating officer now directly owns 963,094 shares of the company’s stock, valued at $142,528,281.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other DoorDash news, COO Prabir Adarkar sold 32,124 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the transaction, the chief operating officer now owns 963,094 shares of the company’s stock, valued at $142,528,281.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Tony Xu sold 81,249 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 383,710 shares of company stock valued at $53,725,640. 7.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. increased its stake in DoorDash by 0.8% during the second quarter. Baillie Gifford & Co. now owns 12,497,488 shares of the company’s stock worth $1,359,477,000 after acquiring an additional 94,241 shares during the last quarter. Capital World Investors boosted its holdings in DoorDash by 0.8% in the first quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock valued at $1,304,242,000 after purchasing an additional 74,504 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of DoorDash by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock worth $753,281,000 after buying an additional 242,956 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of DoorDash by 11,416.7% in the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after buying an additional 3,425,115 shares during the last quarter. Finally, Dragoneer Investment Group LLC raised its holdings in DoorDash by 77.9% in the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after acquiring an additional 1,246,567 shares in 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.