Analysts Set DoorDash, Inc. (NASDAQ:DASH) Price Target at $262.06

Shares of DoorDash, Inc. (NASDAQ:DASH) have been given a consensus rating of “Moderate Buy” by the thirty-five brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, twenty-five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $261.3235.

Several research firms have recently weighed in on DASH. Piper Sandler reaffirmed a “neutral” rating and set a $220.00 price target (down from $230.00) on shares of DoorDash in a research note on Thursday, February 19th. Roth Mkm reissued a “neutral” rating and issued a $200.00 price objective on shares of DoorDash in a research note on Thursday, February 19th. DA Davidson reduced their price objective on DoorDash from $260.00 to $224.00 and set a “neutral” rating on the stock in a report on Thursday, February 19th. Truist Financial upped their target price on DoorDash from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Finally, KeyCorp increased their price target on DoorDash from $275.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, February 19th.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: New monetization product: DoorDash rolled out new ad tools that could help restaurants win more customers and increase ad revenue — a potential long-term boost to margins and ARPU. DoorDash’s new ad tools could change how restaurants compete: Fox Business
• Positive Sentiment: Market reaction: Despite heavy media coverage of the White House delivery stunt, investors have largely shrugged it off so far, suggesting the episode is being treated as a short-term PR event rather than a material hit to fundamentals. DoorDash Defends White House Delivery: Yahoo
• Neutral Sentiment: High-profile media coverage: Multiple outlets reported former President Trump calling the stunt “tacky” and “a little embarrassing,” keeping the story in headlines but not adding new operational or financial information. Trump Calls His Own DoorDash Stunt ‘A Little Embarrassing’: Yahoo
• Neutral Sentiment: Unverified claims: Coverage includes unsubstantiated assertions that participants were “actors,” which prolongs chatter but so far lacks evidence that would meaningfully affect business metrics. White House DoorDash delivery prompts unsubstantiated ‘actor’ claims: Yahoo
• Negative Sentiment: Reputational/PR risk: Social-media backlash and heated exchanges by DoorDash PR staff have generated negative press and could raise short-term brand risk or partner concerns if amplified. DoorDash PR Head Crashes Out Online Over Backlash: HuffPost
• Negative Sentiment: Actor allegation scrutiny: Reporting that a participant may have been a paid actor keeps the story alive and could invite further media/legal scrutiny if substantiated. Unpacking claims ‘DoorDash grandma’ was paid actor: MSN

DoorDash Stock Performance

DASH stock opened at $183.89 on Monday. The company has a market capitalization of $79.89 billion, a PE ratio of 86.74 and a beta of 1.93. DoorDash has a 12 month low of $143.30 and a 12 month high of $285.50. The firm’s 50-day moving average is $165.98 and its 200 day moving average is $205.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.41 and a quick ratio of 1.41.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.10). The company had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.98 billion. DoorDash had a net margin of 6.82% and a return on equity of 10.15%. DoorDash’s quarterly revenue was up 37.7% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. On average, research analysts anticipate that DoorDash will post 2.22 EPS for the current year.

Insider Buying and Selling

In other DoorDash news, Director Stanley Tang sold 21,433 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the transaction, the director directly owned 19,279 shares in the company, valued at $2,891,850. This represents a 52.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shona L. Brown sold 1,250 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $176.61, for a total transaction of $220,762.50. Following the transaction, the director directly owned 31,002 shares in the company, valued at $5,475,263.22. This trade represents a 3.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 94,406 shares of company stock valued at $17,825,074 over the last three months. 5.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoorDash

Several institutional investors have recently bought and sold shares of DASH. Norges Bank purchased a new stake in DoorDash during the fourth quarter worth $1,093,650,000. Wellington Management Group LLP boosted its position in DoorDash by 593.1% during the 4th quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock valued at $1,241,494,000 after acquiring an additional 4,690,744 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of DoorDash by 32.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock valued at $3,161,234,000 after acquiring an additional 3,447,754 shares during the period. Coatue Management LLC increased its holdings in shares of DoorDash by 77.8% in the 4th quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock valued at $988,668,000 after acquiring an additional 1,910,488 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of DoorDash in the 4th quarter worth $372,128,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.