DoorDash (NASDAQ:DASH) Price Target Raised to $190.00 at DA Davidson

DoorDash (NASDAQ:DASH) had its price target boosted by DA Davidson from $150.00 to $190.00 in a report issued on Tuesday, MarketBeat.com reports. DA Davidson currently has a neutral rating on the stock.

Several other equities analysts also recently commented on the stock. Oppenheimer reiterated a “hold” rating on shares of DoorDash in a report on Monday, March 10th. KeyCorp dropped their target price on DoorDash from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Loop Capital increased their price target on DoorDash from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, February 24th. JPMorgan Chase & Co. dropped their price objective on DoorDash from $205.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Wedbush upped their price objective on DoorDash from $160.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average target price of $209.97.

DoorDash Price Performance

NASDAQ:DASH opened at $183.36 on Tuesday. The firm has a market capitalization of $77.03 billion, a price-to-earnings ratio of 679.10 and a beta of 1.68. The business has a 50 day simple moving average of $184.81 and a 200-day simple moving average of $180.42. DoorDash has a 1 year low of $99.32 and a 1 year high of $215.25.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the company earned ($0.06) earnings per share. DoorDash’s revenue was up 20.7% on a year-over-year basis. As a group, analysts expect that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 1,398 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $284,423.10. Following the completion of the transaction, the director now owns 14,778 shares of the company’s stock, valued at $3,006,584.10. This trade represents a 8.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $187.22, for a total value of $266,788.50. Following the completion of the transaction, the chief financial officer now directly owns 337,430 shares of the company’s stock, valued at approximately $63,173,644.60. This trade represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,573 shares of company stock worth $30,407,073. 7.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently made changes to their positions in DASH. Norges Bank acquired a new position in shares of DoorDash in the 4th quarter valued at $597,443,000. Capital World Investors boosted its stake in shares of DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock worth $2,038,712,000 after acquiring an additional 2,538,160 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of DoorDash by 67.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock valued at $780,858,000 after acquiring an additional 1,869,866 shares during the period. Franklin Resources Inc. increased its stake in shares of DoorDash by 25.0% in the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock valued at $796,781,000 after purchasing an additional 949,414 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in DoorDash in the 4th quarter worth about $146,094,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.