Analysts Set DoorDash, Inc. (NASDAQ:DASH) Price Target at $146.91

DoorDash, Inc. (NASDAQ:DASH) has been assigned an average rating of “Moderate Buy” from the thirty-three ratings firms that are currently covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and twenty-three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $146.91.

A number of research firms have recently commented on DASH. Truist Financial boosted their price objective on DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JMP Securities boosted their price target on shares of DoorDash from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Monday, September 30th. Wells Fargo & Company raised their price objective on shares of DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, October 4th. Barclays boosted their target price on shares of DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, UBS Group raised their target price on shares of DoorDash from $125.00 to $143.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd.

DoorDash Stock Performance

Shares of DASH stock opened at $149.86 on Thursday. The firm has a market capitalization of $61.28 billion, a PE ratio of -138.76, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70. DoorDash has a 1 year low of $69.90 and a 1 year high of $150.29. The stock has a fifty day moving average of $134.16 and a two-hundred day moving average of $122.77.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the company earned ($0.44) EPS. The business’s quarterly revenue was up 23.3% on a year-over-year basis. Equities research analysts predict that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total value of $6,685,709.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which is available at this link. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $106.64, for a total value of $746,480.00. Following the transaction, the chief financial officer now directly owns 417,223 shares in the company, valued at approximately $44,492,660.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 277,337 shares of company stock valued at $37,703,799. 7.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Institutional investors have recently modified their holdings of the company. ORG Partners LLC grew its stake in DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 253 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of DoorDash in the second quarter worth about $32,000. Meeder Asset Management Inc. lifted its position in shares of DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares during the last quarter. Hollencrest Capital Management bought a new stake in DoorDash during the 1st quarter valued at approximately $42,000. Finally, Versant Capital Management Inc grew its holdings in DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares during the last quarter. Institutional investors 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.