DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

DoorDash (NASDAQ:DASH) had its target price increased by The Goldman Sachs Group from $161.00 to $192.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also commented on the company. Mizuho increased their price objective on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. BMO Capital Markets upped their target price on shares of DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and set a $200.00 price target on shares of DoorDash in a report on Thursday, January 2nd. Evercore ISI upped their price objective on shares of DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Wolfe Research raised their target price on shares of DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.97.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $170.85 on Thursday. The firm’s 50-day moving average is $173.54 and its two-hundred day moving average is $145.09. The company has a market capitalization of $70.97 billion, a PE ratio of -379.67, a price-to-earnings-growth ratio of 1.77 and a beta of 1.71. DoorDash has a 12-month low of $99.32 and a 12-month high of $181.78.

DoorDash (NASDAQ:DASH) last issued 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 during 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 company’s quarterly 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) EPS. On average, analysts forecast that DoorDash will post 0.26 EPS for the current fiscal year.

Insider Activity

In other DoorDash news, Director Stanley Tang sold 1,855 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $315,312.90. Following the transaction, the director now directly owns 35,413 shares of the company’s stock, valued at $6,019,501.74. This represents a 4.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $168.32, for a total value of $8,416,000.00. Following the transaction, the director now owns 16,176 shares of the company’s stock, valued at approximately $2,722,744.32. This trade represents a 75.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,019,333 shares of company stock worth $177,556,541. 7.92% of the stock is currently owned by company insiders.

Institutional Trading of DoorDash

Institutional investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB grew its holdings in DoorDash by 34.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after acquiring an additional 69 shares in the last quarter. Brighton Jones LLC lifted its position in shares of DoorDash by 0.8% during the second quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock worth $1,122,000 after purchasing an additional 82 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in DoorDash by 0.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock worth $1,970,000 after purchasing an additional 84 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in DoorDash by 3.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock worth $414,000 after purchasing an additional 88 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased its holdings in DoorDash by 1.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 6,966 shares of the company’s stock valued at $1,169,000 after buying an additional 91 shares during the last quarter. 90.64% of the stock is 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.