DoorDash (NASDAQ:DASH) Price Target Raised to $161.00

DoorDash (NASDAQ:DASH) had its price target boosted by The Goldman Sachs Group from $142.00 to $161.00 in a research report released on Friday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other analysts have also recently commented on the company. Raymond James began coverage on DoorDash in a report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of DoorDash in a report on Monday, October 7th. Wells Fargo & Company raised their price target on DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, October 4th. JMP Securities raised their price target on DoorDash from $160.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday. Finally, Evercore ISI raised their price objective on DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $163.12.

DoorDash Stock Performance

DoorDash stock traded down $1.04 during mid-day trading on Friday, reaching $155.66. 4,092,814 shares of the company were exchanged, compared to its average volume of 3,844,751. DoorDash has a twelve month low of $83.58 and a twelve month high of $165.07. The firm’s 50-day simple moving average is $140.40 and its two-hundred day simple moving average is $124.21. The firm has a market cap of $64.06 billion, a PE ratio of -345.91, a price-to-earnings-growth ratio of 331.02 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.46% and a negative net margin of 1.69%. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the firm earned ($0.19) EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, equities research analysts anticipate that DoorDash will post 0.01 EPS for the current year.

Insider Activity

In other news, Director Shona L. Brown sold 5,005 shares of DoorDash stock in a transaction on Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the completion of the sale, the director now owns 65,186 shares of the company’s stock, valued at $7,822,320. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Prabir Adarkar sold 32,124 shares of DoorDash stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total value of $4,754,030.76. Following the transaction, the chief operating officer now owns 963,094 shares in the company, valued at approximately $142,528,281.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shona L. Brown sold 5,005 shares of DoorDash stock in a transaction on Monday, August 5th. The shares were sold at an average price of $120.00, for a total value of $600,600.00. Following the completion of the transaction, the director now owns 65,186 shares in the company, valued at $7,822,320. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 383,710 shares of company stock valued at $53,725,640 over the last quarter. Company insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of DoorDash by 0.8% during the second quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock worth $1,122,000 after purchasing an additional 82 shares in the last quarter. Everhart Financial Group Inc. lifted its stake in shares of DoorDash by 3.1% during the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock worth $355,000 after purchasing an additional 99 shares in the last quarter. E Fund Management Co. Ltd. lifted its stake in shares of DoorDash by 3.5% during the second quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock worth $355,000 after purchasing an additional 111 shares in the last quarter. SJS Investment Consulting Inc. lifted its stake in shares of DoorDash by 21.0% during the second quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock worth $73,000 after purchasing an additional 117 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its stake in shares of DoorDash by 4.4% during the first quarter. Meeder Advisory Services Inc. now owns 3,006 shares of the company’s stock worth $414,000 after purchasing an additional 126 shares in the last quarter. Institutional investors and hedge funds 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.