DoorDash (NASDAQ:DASH) Price Target Raised to $161.00 at The Goldman Sachs Group

DoorDash (NASDAQ:DASH - Free Report) had its price objective boosted by The Goldman Sachs Group from $142.00 to $161.00 in a research note published on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also weighed in on the company. Cantor Fitzgerald reissued an "overweight" rating and set a $160.00 price objective on shares of DoorDash in a report on Monday, October 7th. Morgan Stanley boosted their price objective on DoorDash from $145.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. DA Davidson increased their target price on shares of DoorDash from $119.00 to $150.00 and gave the stock a "neutral" rating in a research report on Thursday. Jefferies Financial Group boosted their price target on shares of DoorDash from $155.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Finally, Raymond James began coverage on shares of DoorDash in a report on Tuesday, September 24th. They issued an "outperform" rating and a $155.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, DoorDash currently has an average rating of "Moderate Buy" and a consensus price target of $163.12.

DoorDash Price Performance

Shares of NASDAQ DASH traded down $1.04 during mid-day trading on Friday, reaching $155.66. 4,091,700 shares of the company's stock were exchanged, compared to its average volume of 3,844,751. The firm has a market capitalization of $64.06 billion, a price-to-earnings ratio of -345.91, a price-to-earnings-growth ratio of 331.02 and a beta of 1.70. The firm has a 50-day moving average price of $140.40 and a two-hundred day moving average price of $124.21. DoorDash has a 52 week low of $83.58 and a 52 week high of $165.07.

DoorDash (NASDAQ:DASH - Get Free Report) last released its earnings results 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. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.46%. The firm had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.66 billion. During the same period in the previous year, the company earned ($0.19) earnings per share. The company's quarterly revenue was up 25.0% on a year-over-year basis. As a group, sell-side analysts forecast that DoorDash will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Tony Xu sold 54,166 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total transaction of $6,685,709.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total transaction of $6,685,709.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the business's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the transaction, the chief financial officer now owns 396,152 shares in the company, valued at $50,651,994.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 383,710 shares of company stock valued at $53,725,640 over the last three months. Insiders own 7.92% of the company's stock.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently made changes to their positions in the business. Assetmark Inc. boosted its stake in shares of DoorDash by 17.4% during the 3rd quarter. Assetmark Inc. now owns 3,519 shares of the company's stock valued at $502,000 after purchasing an additional 522 shares in the last quarter. Hollencrest Capital Management purchased a new stake in DoorDash in the third quarter worth about $54,000. Capital Performance Advisors LLP bought a new stake in DoorDash during the 3rd quarter valued at approximately $69,000. BloombergSen Inc. grew its holdings in shares of DoorDash by 57.6% during the 3rd quarter. BloombergSen Inc. now owns 9,940 shares of the company's stock worth $1,419,000 after acquiring an additional 3,631 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of DoorDash by 25.0% in the 3rd quarter. Principal Financial Group Inc. now owns 90,786 shares of the company's stock worth $12,958,000 after acquiring an additional 18,155 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other 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.