DoorDash (NASDAQ:DASH) Price Target Increased to $145.00 by Analysts at Oppenheimer

DoorDash (NASDAQ:DASH) had its price target lifted by analysts at Oppenheimer from $125.00 to $145.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 26.00% from the stock’s previous close.

A number of other research analysts have also commented on the company. Truist Financial upped their price target on DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Friday. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a research report on Friday. Citigroup upped their price objective on DoorDash from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Piper Sandler reissued a “neutral” rating and set a $125.00 price target (up from $115.00) on shares of DoorDash in a report on Friday. Finally, JPMorgan Chase & Co. increased their target price on DoorDash from $111.00 to $137.00 and gave the stock a “neutral” rating in a report on Friday. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $140.65.

DoorDash Trading Up 6.4 %

DoorDash stock traded up $6.88 during mid-day trading on Friday, hitting $115.08. 7,725,777 shares of the company’s stock were exchanged, compared to its average volume of 4,026,614. DoorDash has a 1-year low of $69.90 and a 1-year high of $143.34. The stock has a 50 day moving average of $109.27 and a two-hundred day moving average of $118.16. The stock has a market cap of $47.06 billion, a P/E ratio of -106.56, a P/E/G ratio of 41.18 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.28). DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm posted ($0.44) earnings per share. DoorDash’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, research analysts predict that DoorDash will post 0.07 EPS for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, General Counsel Tia Sherringham sold 11,740 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $110.46, for a total transaction of $1,296,800.40. Following the completion of the transaction, the general counsel now owns 183,512 shares of the company’s stock, valued at approximately $20,270,735.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, General Counsel Tia Sherringham sold 11,740 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $110.46, for a total value of $1,296,800.40. Following the sale, the general counsel now owns 183,512 shares of the company’s stock, valued at $20,270,735.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $106.64, for a total transaction of $746,480.00. Following the completion of the transaction, the chief financial officer now directly owns 417,223 shares of the company’s stock, valued at approximately $44,492,660.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 459,016 shares of company stock valued at $50,325,396. 7.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC boosted its holdings in shares of DoorDash by 54.5% in the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock valued at $35,000 after buying an additional 90 shares during the last quarter. Everhart Financial Group Inc. lifted its stake in DoorDash by 3.1% in the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after acquiring an additional 99 shares during the last quarter. Hillsdale Investment Management Inc. grew its position in shares of DoorDash by 1.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 6,540 shares of the company’s stock valued at $647,000 after acquiring an additional 100 shares during the period. Summit Trail Advisors LLC lifted its stake in DoorDash by 0.3% in the 1st quarter. Summit Trail Advisors LLC now owns 36,925 shares of the company’s stock valued at $5,085,000 after purchasing an additional 106 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of DoorDash by 17.2% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $101,000 after buying an additional 108 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

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.