DoorDash, Inc. (NASDAQ:DASH) Receives $210.21 Consensus Price Target from Analysts

DoorDash, Inc. (NASDAQ:DASH) has received an average rating of “Moderate Buy” from the thirty-five ratings firms that are currently covering the firm, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation, twenty-three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $213.29.

DASH has been the subject of a number of analyst reports. Bank of America upped their target price on DoorDash from $230.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, June 12th. Roth Capital set a $191.00 target price on DoorDash and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Wells Fargo & Company lowered their target price on DoorDash from $201.00 to $198.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. Royal Bank Of Canada restated an “outperform” rating and set a $230.00 target price on shares of DoorDash in a report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $198.00 target price on DoorDash and gave the stock a “hold” rating in a report on Tuesday, June 10th.

DoorDash Stock Up 4.5%

Shares of NASDAQ:DASH opened at $230.32 on Tuesday. DoorDash has a 52-week low of $99.32 and a 52-week high of $233.92. The stock has a market cap of $97.60 billion, a P/E ratio of 299.12 and a beta of 1.67. The business’s 50 day moving average is $201.49 and its 200 day moving average is $189.80.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. DoorDash’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. On average, sell-side analysts anticipate that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 20,000 shares of DoorDash stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $185.58, for a total value of $3,711,600.00. Following the completion of the transaction, the chief operating officer now owns 887,348 shares in the company, valued at $164,674,041.84. The trade was a 2.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $187.22, for a total value of $266,788.50. Following the transaction, the chief financial officer now directly owns 337,430 shares of the company’s stock, valued at $63,173,644.60. The trade was a 0.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 327,559 shares of company stock worth $66,306,707 in the last 90 days. Corporate insiders own 5.83% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently made changes to their positions in DASH. Vanguard Group Inc. raised its holdings in shares of DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock valued at $7,200,642,000 after acquiring an additional 8,073,882 shares during the last quarter. Norges Bank acquired a new position in shares of DoorDash during the fourth quarter valued at approximately $597,443,000. Capital World Investors raised its holdings in shares of DoorDash by 26.4% during the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock valued at $2,038,712,000 after acquiring an additional 2,538,160 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of DoorDash by 67.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock valued at $780,858,000 after purchasing an additional 1,869,866 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of DoorDash by 442.5% in the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after purchasing an additional 1,497,636 shares in the last quarter. Institutional investors and hedge funds 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.