DoorDash, Inc. (NASDAQ:DASH) Receives $168.39 Average Target Price from Brokerages

Shares of DoorDash, Inc. (NASDAQ:DASH - Get Free Report) have received an average recommendation of "Moderate Buy" from the thirty-four brokerages that are covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $168.39.

DASH has been the subject of several research reports. Oppenheimer increased their price objective on shares of DoorDash from $145.00 to $160.00 and gave the company an "outperform" rating in a research note on Friday, September 27th. BMO Capital Markets increased their price target on DoorDash from $140.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on DoorDash from $137.00 to $155.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Evercore ISI increased their target price on DoorDash from $155.00 to $200.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Finally, Benchmark boosted their price target on DoorDash from $152.00 to $173.00 and gave the stock a "buy" rating in a report on Thursday, October 17th.

DoorDash Stock Performance

Shares of NASDAQ DASH traded up $1.87 during trading hours on Tuesday, reaching $171.81. 634,425 shares of the stock were exchanged, compared to its average volume of 3,713,255. DoorDash has a 52 week low of $93.33 and a 52 week high of $181.78. The stock's fifty day simple moving average is $167.98 and its 200 day simple moving average is $138.29. The firm has a market capitalization of $71.37 billion, a price-to-earnings ratio of -381.80, a P/E/G ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates 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 revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.19) EPS. Research analysts predict that DoorDash will post 0.26 EPS for the current fiscal year.

Insider Activity

In related news, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the completion of the transaction, the director now owns 18,089 shares of the company's stock, valued at $2,710,274.87. This trade represents a 73.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the business's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $178.74, for a total value of $19,363,261.68. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at $268,110. This trade represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 897,362 shares of company stock valued at $151,625,589. Insiders own 7.92% of the company's stock.

Hedge Funds Weigh In On DoorDash

Several large investors have recently modified their holdings of DASH. Brighton Jones LLC raised its holdings in DoorDash by 0.8% in the second quarter. Brighton Jones LLC now owns 10,317 shares of the company's stock worth $1,122,000 after buying an additional 82 shares during the last quarter. E Fund Management Co. Ltd. lifted its position in DoorDash by 3.5% during the second quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company's stock valued at $355,000 after purchasing an additional 111 shares during the period. Venturi Wealth Management LLC boosted its holdings in DoorDash by 39.0% in the third quarter. Venturi Wealth Management LLC now owns 424 shares of the company's stock worth $61,000 after purchasing an additional 119 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company's stock worth $25,000 after purchasing an additional 130 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company's stock valued at $32,000 after buying an additional 132 shares during the last quarter. Hedge funds and other institutional investors 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.