DoorDash (NASDAQ:DASH) Given New $163.00 Price Target at Barclays

DoorDash (NASDAQ:DASH) had its price target hoisted by Barclays from $120.00 to $163.00 in a research note issued to investors on Friday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other analysts have also recently commented on DASH. Oppenheimer raised their target price on DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. BMO Capital Markets lifted their price target on DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Redburn Atlantic started coverage on DoorDash in a research report on Friday, July 26th. They set a “buy” rating and a $170.00 price target on the stock. Jefferies Financial Group lifted their price target on DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC raised their price objective on DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $163.12.

DoorDash Trading Up 1.0 %

Shares of DoorDash stock opened at $157.24 on Friday. The business’s 50 day simple moving average is $140.40 and its 200-day simple moving average is $124.10. The stock has a market capitalization of $64.71 billion, a price-to-earnings ratio of -349.42, a PEG ratio of 359.82 and a beta of 1.67. DoorDash has a twelve month low of $83.58 and a twelve month high of $165.07.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results 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. The business 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 2.41% and a negative net margin of 1.69%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) EPS. Sell-side analysts predict that DoorDash will post 0.01 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 18,089 shares in the company, valued at $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 is available at the SEC website. In related news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 18,089 shares in the company, valued at $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 is available at the SEC website. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The disclosure for this sale can be found here. Insiders sold 324,539 shares of company stock worth $46,439,330 in the last quarter. Insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Several institutional investors and hedge funds have recently made changes to their positions in DASH. Meeder Asset Management Inc. raised its position in shares of DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 132 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of DoorDash during the 2nd quarter valued at $32,000. Versant Capital Management Inc raised its position in shares of DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares during the last quarter. ORG Partners LLC raised its position in shares of DoorDash by 2,108.3% during the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 253 shares during the last quarter. Finally, Quest Partners LLC raised its position in shares of DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares during the last quarter. 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.