DA Davidson Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its price objective raised by DA Davidson from $119.00 to $150.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also recently commented on DASH. Raymond James started coverage on DoorDash in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price objective for the company. Keefe, Bruyette & Woods upgraded shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target for the company in a research note on Wednesday, September 25th. JPMorgan Chase & Co. raised their price objective on shares of DoorDash from $111.00 to $137.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Mizuho boosted their target price on shares of DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Truist Financial upped their target price on shares of DoorDash from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.12.

DoorDash Stock Down 0.7 %

Shares of DASH stock opened at $155.66 on Thursday. The firm has a 50 day moving average of $140.40 and a 200-day moving average of $124.15. The company has a market cap of $64.06 billion, a price-to-earnings ratio of -345.91, a price-to-earnings-growth ratio of 359.82 and a beta of 1.67. DoorDash has a 52 week low of $83.58 and a 52 week high of $165.07.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate 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 revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.19) earnings per share. Analysts anticipate that DoorDash will post 0.01 earnings per share for the current year.

Insider Buying and Selling

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total value of $6,685,709.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 378,705 shares of company stock valued at $53,125,040. Company insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its holdings in shares of DoorDash by 11,416.7% in the 1st 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 increased its position in shares of DoorDash by 77.9% in the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after purchasing an additional 1,246,567 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in DoorDash by 595.2% during the first quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock valued at $122,830,000 after purchasing an additional 763,579 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in DoorDash by 216.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after buying an additional 739,961 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its holdings in shares of DoorDash by 3,284.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock worth $79,385,000 after buying an additional 708,218 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other 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.