Truist Financial Increases DoorDash (NASDAQ:DASH) Price Target to $150.00

DoorDash (NASDAQ:DASH) had its target price boosted by Truist Financial from $145.00 to $150.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the stock.

DASH has been the subject of a number of other reports. Wolfe Research assumed coverage on DoorDash in a report on Tuesday, July 16th. They issued an outperform rating and a $130.00 price target for the company. Citigroup boosted their price target on DoorDash from $141.00 to $144.00 and gave the company a buy rating in a report on Thursday, May 2nd. Loop Capital assumed coverage on DoorDash in a report on Friday, April 19th. They issued a buy rating and a $170.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price target on DoorDash from $140.00 to $155.00 and gave the company a buy rating in a report on Tuesday, April 16th. Finally, Argus began coverage on DoorDash in a research report on Tuesday, July 23rd. They set a hold rating for the company. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned 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 price target of $142.81.

DoorDash Trading Up 0.6 %

DASH stock traded up $0.66 during midday trading on Friday, hitting $117.89. 6,795,261 shares of the company’s stock were exchanged, compared to its average volume of 4,078,355. DoorDash has a 12-month low of $69.90 and a 12-month high of $143.34. The firm has a 50 day moving average price of $109.35 and a 200-day moving average price of $118.46. The stock has a market capitalization of $48.21 billion, a price-to-earnings ratio of -110.39, a price-to-earnings-growth ratio of 40.25 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 6.00% and a negative net margin of 4.24%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the firm earned ($0.44) earnings per share. DoorDash’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, sell-side analysts forecast that DoorDash will post 0.07 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, CEO Tony Xu sold 131,590 shares of DoorDash 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 filing with the SEC, which is available at this link. In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $113.40, for a total transaction of $5,670,000.00. Following the completion of the transaction, the director now owns 39,275 shares in the company, valued at $4,453,785. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 131,590 shares of the business’s stock in a transaction that occurred on 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. Insiders have sold 459,016 shares of company stock valued at $50,325,396 in the last 90 days. 7.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoorDash

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of DoorDash by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after buying an additional 2,259,976 shares during the period. Baillie Gifford & Co. boosted its stake in shares of DoorDash by 6.4% in the fourth quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock valued at $1,263,381,000 after buying an additional 772,977 shares during the period. Capital World Investors raised its position in DoorDash by 0.8% during 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 in the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 valued at $753,281,000 after purchasing an additional 242,956 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in DoorDash by 11,416.7% during the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after purchasing an additional 3,425,115 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

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.