DoorDash (NASDAQ:DASH) Price Target Increased to $120.00 by Analysts at Barclays

DoorDash (NASDAQ:DASH) had its price target hoisted by Barclays from $113.00 to $120.00 in a research note released on Friday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other brokerages also recently commented on DASH. Royal Bank of Canada cut their price objective on DoorDash from $175.00 to $165.00 and set an outperform rating on the stock in a research report on Thursday, May 2nd. KeyCorp initiated coverage on DoorDash in a research report on Thursday, July 11th. They issued a sector weight rating on the stock. Needham & Company LLC upped their price objective on DoorDash from $137.00 to $145.00 and gave the company a buy rating in a research report on Friday. Wolfe Research initiated coverage on DoorDash in a research report on Tuesday, July 16th. They issued an outperform rating and a $130.00 price objective on the stock. Finally, Wedbush reaffirmed a neutral rating and issued a $115.00 price objective on shares of DoorDash in a research report on Friday. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $142.38.

DoorDash Trading Up 8.3 %

NASDAQ:DASH traded up $9.03 during midday trading on Friday, hitting $117.23. 12,666,595 shares of the company traded hands, compared to its average volume of 4,409,081. The firm’s fifty day moving average is $109.35 and its 200-day moving average is $118.25. DoorDash has a 12-month low of $69.90 and a 12-month high of $143.34. The firm has a market capitalization of $47.94 billion, a P/E ratio of -108.55, a P/E/G ratio of 40.25 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.28). The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 6.00%. The business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.44) EPS. On average, research analysts expect that DoorDash will post 0.07 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 131,590 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $111.61, for a total value of $14,686,759.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $113.40, for a total value of $5,670,000.00. Following the completion of the transaction, the director now directly owns 39,275 shares in the company, valued at $4,453,785. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Tony Xu sold 131,590 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $111.61, for a total value of $14,686,759.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 459,016 shares of company stock worth $50,325,396. 7.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DASH. Raymond James & Associates raised its stake in shares of DoorDash by 25.9% in the fourth quarter. Raymond James & Associates now owns 15,805 shares of the company’s stock worth $1,563,000 after purchasing an additional 3,254 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in DoorDash by 55.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 19,866 shares of the company’s stock valued at $1,965,000 after acquiring an additional 7,077 shares in the last quarter. Global Retirement Partners LLC raised its position in DoorDash by 3,072.2% during the fourth quarter. Global Retirement Partners LLC now owns 571 shares of the company’s stock valued at $59,000 after acquiring an additional 553 shares in the last quarter. Arizona State Retirement System raised its position in DoorDash by 0.7% during the fourth quarter. Arizona State Retirement System now owns 72,046 shares of the company’s stock valued at $7,125,000 after acquiring an additional 535 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in DoorDash by 11.9% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 37,861 shares of the company’s stock valued at $3,764,000 after acquiring an additional 4,033 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.