Truist Financial Boosts DoorDash (NASDAQ:DASH) Price Target to $217.00

DoorDash (NASDAQ:DASH) had its price target hoisted by equities researchers at Truist Financial from $180.00 to $217.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 21.34% from the stock’s current price.

Other analysts also recently issued research reports about the company. Loop Capital boosted their price objective on DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Citigroup raised their price target on shares of DoorDash from $155.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Evercore ISI boosted their price objective on DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. The Goldman Sachs Group increased their price target on DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Bank of America lifted their target price on DoorDash from $168.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $168.39.

DoorDash Price Performance

NASDAQ DASH traded down $0.67 during mid-day trading on Tuesday, hitting $178.83. The company’s stock had a trading volume of 377,619 shares, compared to its average volume of 3,710,545. DoorDash has a 52-week low of $93.33 and a 52-week high of $181.30. The stock’s fifty day simple moving average is $165.56 and its two-hundred day simple moving average is $136.22. The firm has a market capitalization of $74.29 billion, a P/E ratio of -397.40, a price-to-earnings-growth ratio of 13.56 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) earnings per share. On average, equities analysts forecast that DoorDash will post 0.26 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $143.76, for a total transaction of $7,188,000.00. Following the sale, the director now owns 18,089 shares in the company, valued at approximately $2,600,474.64. This trade represents a 73.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 81,249 shares of DoorDash stock in a transaction dated Tuesday, October 15th. The stock was 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. Over the last ninety days, insiders have sold 843,196 shares of company stock valued at $139,848,818. 7.92% of the stock is currently owned by corporate insiders.

Institutional Trading of DoorDash

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rakuten Securities Inc. boosted its position in shares of DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares in the last quarter. Headlands Technologies LLC purchased a new stake in DoorDash in the 2nd quarter worth $32,000. Meeder Asset Management Inc. increased its stake in DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 132 shares during the last quarter. Quest Partners LLC lifted its stake in shares of DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 204 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of DoorDash by 141.1% during the second quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock worth $38,000 after acquiring an additional 206 shares during the period. 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.