DoorDash (NASDAQ:DASH - Get Free Report) had its price target raised by research analysts at Morgan Stanley from $160.00 to $200.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's target price would suggest a potential upside of 18.79% from the company's previous close.
Several other equities research analysts have also recently commented on DASH. Wells Fargo & Company raised their target price on DoorDash from $127.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Friday, October 4th. Cantor Fitzgerald reissued an "overweight" rating and set a $160.00 target price on shares of DoorDash in a research report on Monday, October 7th. The Goldman Sachs Group boosted their target price on shares of DoorDash from $142.00 to $161.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Argus upgraded DoorDash from a "hold" rating to a "buy" rating in a research note on Friday, December 20th. Finally, Oppenheimer lifted their price target on DoorDash from $145.00 to $160.00 and gave the company an "outperform" rating in a research report on Friday, September 27th. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.30.
Get Our Latest Stock Analysis on DASH
DoorDash Stock Down 1.0 %
DoorDash stock traded down $1.75 during trading hours on Monday, hitting $168.37. The stock had a trading volume of 1,862,426 shares, compared to its average volume of 2,353,330. The business's 50 day simple moving average is $173.09 and its 200-day simple moving average is $144.07. The stock has a market cap of $69.94 billion, a price-to-earnings ratio of -374.16, a P/E/G ratio of 13.46 and a beta of 1.70. DoorDash has a one year low of $99.32 and a one year high of $181.78.
DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the business earned ($0.19) EPS. The business's quarterly revenue was up 25.0% compared to the same quarter last year. Research analysts anticipate that DoorDash will post 0.26 EPS for the current fiscal year.
Insider Buying and Selling
In other DoorDash news, CEO Tony Xu sold 81,249 shares of the company's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Prabir Adarkar sold 32,124 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the sale, the chief operating officer now owns 963,094 shares in the company, valued at approximately $142,528,281.06. The trade was a 3.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,032,694 shares of company stock worth $177,406,286. 7.92% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Baillie Gifford & Co. raised its stake in shares of DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company's stock valued at $2,018,584,000 after acquiring an additional 1,645,186 shares during the period. State Street Corp raised its stake in shares of DoorDash by 3.8% during the third quarter. State Street Corp now owns 7,395,891 shares of the company's stock valued at $1,055,616,000 after acquiring an additional 272,659 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of DoorDash by 14.5% in the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company's stock valued at $789,766,000 after purchasing an additional 700,465 shares during the period. Geode Capital Management LLC grew its stake in DoorDash by 6.4% in the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company's stock worth $636,652,000 after purchasing an additional 267,855 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in DoorDash by 15.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company's stock valued at $570,135,000 after purchasing an additional 501,905 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.
DoorDash Company Profile
(
Get Free Report)
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.
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