DoorDash (NASDAQ:DASH) Given New $200.00 Price Target at Morgan Stanley

DoorDash (NASDAQ:DASH) had its price target lifted by Morgan Stanley from $160.00 to $200.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also issued research reports about the company. Piper Sandler increased their target price on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of DoorDash in a research note on Monday, October 7th. UBS Group lifted their target price on DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. increased their price target on shares of DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, KeyCorp raised their price target on shares of DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $174.30.

DoorDash Stock Up 1.1 %

Shares of NASDAQ DASH opened at $171.19 on Monday. The stock’s fifty day simple moving average is $173.51 and its 200 day simple moving average is $144.91. The stock has a market capitalization of $71.11 billion, a price-to-earnings ratio of -380.42, a PEG ratio of 13.46 and a beta of 1.71. DoorDash has a 52-week low of $99.32 and a 52-week high of $181.78.

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, topping the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.19) EPS. As a group, analysts anticipate that DoorDash will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Prabir Adarkar sold 20,000 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $168.53, for a total value of $3,370,600.00. Following the completion of the sale, the chief operating officer now directly owns 925,222 shares of the company’s stock, valued at approximately $155,927,663.66. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the completion of the sale, the director now owns 16,176 shares in the company, valued at approximately $2,722,744.32. The trade was a 75.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,019,321 shares of company stock worth $177,554,465 in the last quarter. 7.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoorDash

Several large investors have recently bought and sold shares of DASH. Asset Management One Co. Ltd. increased its holdings in shares of DoorDash by 10.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after purchasing an additional 10,755 shares during the period. Marshall Wace LLP grew its position in DoorDash by 930.5% during the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock worth $73,534,000 after buying an additional 610,388 shares in the last quarter. Forsta AP Fonden increased its stake in DoorDash by 18.6% during the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after acquiring an additional 10,100 shares during the period. Sanctuary Advisors LLC raised its holdings in DoorDash by 48.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock valued at $1,522,000 after acquiring an additional 3,498 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in shares of DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after acquiring an additional 1,645,186 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.