DoorDash (NASDAQ:DASH) Price Target Raised to $260.00

DoorDash (NASDAQ:DASH) had its price objective upped by equities researchers at Cantor Fitzgerald from $210.00 to $260.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 9.64% from the stock’s current price.

Several other brokerages have also commented on DASH. Morgan Stanley cut their price target on shares of DoorDash from $245.00 to $210.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Benchmark boosted their target price on shares of DoorDash from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. BMO Capital Markets reaffirmed an “outperform” rating on shares of DoorDash in a research note on Tuesday, April 29th. JPMorgan Chase & Co. lowered their price objective on DoorDash from $205.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, KeyCorp decreased their target price on DoorDash from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Eleven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $214.76.

DoorDash Trading Up 0.4%

Shares of DASH stock traded up $0.98 during trading hours on Wednesday, hitting $237.15. The company’s stock had a trading volume of 186,653 shares, compared to its average volume of 4,216,042. The stock has a market cap of $100.49 billion, a PE ratio of 308.78 and a beta of 1.67. DoorDash has a 12-month low of $99.32 and a 12-month high of $238.28. The company has a 50 day moving average of $202.59 and a 200 day moving average of $190.12.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. DoorDash’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. As a group, analysts anticipate that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 20,000 shares of the business’s stock in a transaction on 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 sale, the chief operating officer now owns 887,348 shares in the company, valued at approximately $164,674,041.84. The trade was a 2.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction dated Friday, April 25th. The stock was 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 in the company, valued at approximately $63,173,644.60. The trade was a 0.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 327,559 shares of company stock worth $66,306,707. Company insiders own 5.83% of the company’s stock.

Institutional Trading of DoorDash

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in shares of DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after purchasing an additional 1,807 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in DoorDash by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 93,382 shares of the company’s stock valued at $15,665,000 after purchasing an additional 2,596 shares during the period. Jones Financial Companies Lllp grew its stake in DoorDash by 36.2% during the 4th quarter. Jones Financial Companies Lllp now owns 1,926 shares of the company’s stock worth $323,000 after purchasing an additional 512 shares in the last quarter. Truist Financial Corp increased its holdings in DoorDash by 35.1% during the 4th quarter. Truist Financial Corp now owns 8,597 shares of the company’s stock worth $1,442,000 after purchasing an additional 2,233 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in DoorDash by 66.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,242 shares of the company’s stock valued at $208,000 after purchasing an additional 495 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.