DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

DoorDash (NASDAQ:DASH) had its price target hoisted by Needham & Company LLC from $145.00 to $180.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 15.64% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on DASH. Evercore ISI upped their price target on DoorDash from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. KeyCorp upgraded DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 price target on the stock in a report on Wednesday, September 25th. Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of DoorDash in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on DoorDash from $111.00 to $137.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, JMP Securities upped their price target on DoorDash from $145.00 to $160.00 and gave the stock a “market outperform” rating in a report on Monday, September 30th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.12.

DoorDash Trading Down 0.7 %

NASDAQ DASH opened at $155.66 on Thursday. The business’s 50 day moving average is $140.40 and its two-hundred day moving average is $124.21. DoorDash has a 12-month low of $83.58 and a 12-month high of $165.07. The stock has a market capitalization of $64.06 billion, a price-to-earnings ratio of -345.91, a PEG ratio of 331.02 and a beta of 1.70.

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

Insider Activity at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the sale, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Shona L. Brown sold 5,005 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $120.00, for a total transaction of $600,600.00. Following the completion of the sale, the director now directly owns 65,186 shares in the company, valued at $7,822,320. 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 is available at this hyperlink. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the sale, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 383,710 shares of company stock worth $53,725,640. Corporate insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Several large investors have recently modified their holdings of DASH. Janus Henderson Group PLC grew its stake in shares of 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 acquiring an additional 3,425,115 shares in the last quarter. Dragoneer Investment Group LLC grew its stake in shares of DoorDash by 77.9% during the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after acquiring an additional 1,246,567 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of DoorDash by 595.2% during the first quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock worth $122,830,000 after purchasing an additional 763,579 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of DoorDash by 216.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after purchasing an additional 739,961 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in shares of DoorDash by 3,284.7% during the second quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock worth $79,385,000 after purchasing an additional 708,218 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.