DoorDash (NASDAQ:DASH) Sets New 52-Week High Following Analyst Upgrade

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday after Truist Financial raised their price target on the stock from $180.00 to $217.00. Truist Financial currently has a buy rating on the stock. DoorDash traded as high as $181.78 and last traded at $181.25, with a volume of 938393 shares trading hands. The stock had previously closed at $179.50.

Other equities research analysts also recently issued reports about the stock. BTIG Research raised shares of DoorDash from a "neutral" rating to a "buy" rating and set a $155.00 price target on the stock in a report on Thursday, September 19th. Citigroup lifted their price objective on DoorDash from $155.00 to $211.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Royal Bank of Canada boosted their price target on shares of DoorDash from $175.00 to $215.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Wells Fargo & Company increased their price objective on DoorDash from $127.00 to $142.00 and gave the company an "equal weight" rating in a research report on Friday, October 4th. Finally, Susquehanna upped their price target on shares of DoorDash from $140.00 to $180.00 and gave the company a "positive" rating in a research report on Friday, November 1st. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $168.39.

Insider Buying and Selling

In other news, CEO Tony Xu sold 54,166 shares of the business's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $143.76, for a total value of $7,188,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at $2,600,474.64. This trade represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 843,196 shares of company stock worth $139,848,818. 7.92% of the stock is owned by insiders.

Institutional Investors Weigh In On DoorDash

Several institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. grew its stake in DoorDash by 13.2% during 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 in the last quarter. State Street Corp lifted its position in shares of DoorDash by 3.8% in the third quarter. State Street Corp now owns 7,395,891 shares of the company's stock worth $1,055,616,000 after buying an additional 272,659 shares in the last quarter. Janus Henderson Group PLC boosted its stake in DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company's stock valued at $789,766,000 after buying an additional 700,465 shares during the last quarter. Geode Capital Management LLC increased its stake in DoorDash by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company's stock worth $636,652,000 after acquiring an additional 267,855 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of 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 acquiring an additional 501,905 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

DoorDash Stock Down 1.4 %

The business's fifty day moving average is $165.56 and its two-hundred day moving average is $136.22. The stock has a market capitalization of $73.53 billion, a PE ratio of -397.40, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued 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 business had revenue of $2.71 billion during the quarter, compared to analysts' expectations of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business's revenue was up 25.0% on a year-over-year basis. During the same period last year, the company posted ($0.19) EPS. Sell-side analysts expect that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

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.