DoorDash (NASDAQ:DASH) Price Target Raised to $160.00

DoorDash (NASDAQ:DASH) had its target price boosted by investment analysts at Piper Sandler from $125.00 to $160.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price indicates a potential upside of 2.79% from the stock’s current price.

DASH has been the topic of a number of other reports. Jefferies Financial Group upped their price objective on DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Morgan Stanley upped their price target on shares of DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Wedbush reiterated a “neutral” rating and issued a $115.00 price objective on shares of DoorDash in a research note on Friday, August 2nd. Barclays increased their target price on shares of DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Truist Financial lifted their price target on shares of DoorDash from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and a consensus target price of $163.12.

DoorDash Stock Performance

Shares of DASH stock opened at $155.66 on Thursday. DoorDash has a 52 week low of $83.58 and a 52 week high of $165.07. The company has a market capitalization of $64.06 billion, a price-to-earnings ratio of -345.91, a PEG ratio of 331.02 and a beta of 1.70. The company has a 50-day simple moving average of $140.40 and a 200 day simple moving average of $124.21.

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

Insider Buying and Selling

In other news, Director Shona L. Brown sold 5,005 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the completion of the sale, the director now owns 65,186 shares of the company’s stock, valued at approximately $7,822,320. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Tony Xu sold 54,166 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total value of $6,685,709.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Shona L. Brown sold 5,005 shares of DoorDash stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $120.00, for a total transaction of $600,600.00. Following the transaction, the director now owns 65,186 shares of the company’s stock, valued at $7,822,320. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 383,710 shares of company stock valued at $53,725,640 in the last three months. Insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP lifted its holdings in shares of DoorDash by 930.5% in the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after purchasing an additional 610,388 shares in the last quarter. Forsta AP Fonden lifted its stake in DoorDash by 18.6% in the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after purchasing an additional 10,100 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in DoorDash in the first quarter valued at approximately $2,969,000. CWM LLC grew its holdings in DoorDash by 97.1% during the third quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after purchasing an additional 5,273 shares during the period. Finally, Paragon Capital Management Inc. purchased a new stake in DoorDash in the second quarter worth $1,309,000. 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.