Bank of America Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH - Free Report) had its price target boosted by Bank of America from $172.00 to $205.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the stock. Susquehanna upped their price target on shares of DoorDash from $140.00 to $180.00 and gave the stock a "positive" rating in a research note on Friday, November 1st. Jefferies Financial Group upped their price target on shares of DoorDash from $155.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $160.00 price target on shares of DoorDash in a research note on Monday, October 7th. Wolfe Research upped their price target on shares of DoorDash from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Finally, Loop Capital boosted their target price on shares of DoorDash from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $176.97.

DoorDash Price Performance

Shares of NASDAQ:DASH traded up $5.47 during trading on Thursday, reaching $183.15. 1,901,180 shares of the company's stock traded hands, compared to its average volume of 2,473,284. DoorDash has a 12 month low of $99.32 and a 12 month high of $183.38. The company has a 50 day moving average of $173.66 and a 200-day moving average of $147.42. The stock has a market capitalization of $76.08 billion, a P/E ratio of -407.05, a price-to-earnings-growth ratio of 1.88 and a beta of 1.71.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company's revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.19) EPS. Equities research analysts predict that DoorDash will post 0.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction on Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company's stock, valued at $255,375. The trade was a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the business's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the completion of the sale, the director now directly owns 16,176 shares of the company's stock, valued at approximately $2,722,744.32. The trade was a 75.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,019,333 shares of company stock worth $177,556,541. Company insiders own 7.92% of the company's stock.

Institutional Trading of DoorDash

Several institutional investors have recently added to or reduced their stakes in DASH. Rakuten Securities Inc. lifted its holdings in shares of DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company's stock worth $25,000 after purchasing an additional 130 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of DoorDash during the 4th quarter worth $36,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of DoorDash by 34.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company's stock worth $46,000 after acquiring an additional 69 shares during the period. Hollencrest Capital Management bought a new position in DoorDash in the 3rd quarter worth about $54,000. Finally, Quarry LP bought a new position in DoorDash in the 2nd quarter worth about $60,000. 90.64% of the stock is currently owned by institutional investors.

DoorDash Company Profile

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.