Truist Financial Increases DoorDash (NASDAQ:DASH) Price Target to $170.00

DoorDash (NASDAQ:DASH) had its price objective hoisted by Truist Financial from $150.00 to $170.00 in a report published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

DASH has been the subject of a number of other reports. Raymond James assumed coverage on shares of DoorDash in a research note on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price objective for the company. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective on the stock in a research report on Wednesday, September 25th. Susquehanna lifted their price objective on DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, August 5th. Benchmark boosted their target price on shares of DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Argus started coverage on shares of DoorDash in a research note on Tuesday, July 23rd. They set a “hold” rating on the stock. Ten research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and an average target price of $151.00.

DoorDash Stock Performance

DASH opened at $153.88 on Tuesday. The company has a market cap of $62.92 billion, a price-to-earnings ratio of -142.48, a PEG ratio of 425.82 and a beta of 1.70. DoorDash has a one year low of $69.90 and a one year high of $155.29. The business’s fifty day moving average is $137.76 and its two-hundred day moving average is $123.59.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business had revenue of $2.63 billion during 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 quarterly revenue was up 23.3% on a year-over-year basis. On average, analysts predict that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Tony Xu sold 81,249 shares of DoorDash stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total transaction of $12,014,289.63. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total transaction of $746,480.00. Following the completion of the sale, the chief financial officer now owns 417,223 shares in the company, valued at $44,492,660.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 81,249 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total value of $12,014,289.63. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 390,710 shares of company stock valued at $54,472,120. Corporate insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. American International Group Inc. raised its stake in shares of DoorDash by 551.7% in the 4th quarter. American International Group Inc. now owns 30,363 shares of the company’s stock valued at $3,003,000 after purchasing an additional 25,704 shares in the last quarter. Wellington Management Group LLP acquired a new stake in DoorDash during the fourth quarter valued at approximately $21,228,000. Park Avenue Securities LLC lifted its holdings in DoorDash by 2.2% during the 1st quarter. Park Avenue Securities LLC now owns 9,452 shares of the company’s stock worth $1,302,000 after buying an additional 203 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of DoorDash in the 1st quarter worth approximately $339,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of DoorDash by 26.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,802 shares of the company’s stock valued at $1,488,000 after acquiring an additional 2,237 shares during the last quarter. 90.64% of the stock is currently owned by 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.