DoorDash (NASDAQ:DASH) Price Target Raised to $192.00

DoorDash (NASDAQ:DASH - Get Free Report) had its price target raised by research analysts at The Goldman Sachs Group from $161.00 to $192.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. The Goldman Sachs Group's target price points to a potential upside of 10.04% from the stock's previous close.

Several other research analysts also recently commented on the company. JMP Securities restated a "market outperform" rating and set a $200.00 price objective on shares of DoorDash in a report on Thursday, January 2nd. Needham & Company LLC raised their price target on DoorDash from $145.00 to $180.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Royal Bank of Canada upped their price objective 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. BTIG Research raised shares of DoorDash from a "neutral" rating to a "buy" rating and set a $155.00 target price on the stock in a research report on Thursday, September 19th. Finally, DA Davidson boosted their price target on shares of DoorDash from $119.00 to $150.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $175.97.

DoorDash Trading Up 2.1 %

Shares of NASDAQ DASH traded up $3.63 during mid-day trading on Thursday, reaching $174.48. The company had a trading volume of 3,653,938 shares, compared to its average volume of 2,502,567. The stock has a market cap of $72.48 billion, a price-to-earnings ratio of -387.73, a price-to-earnings-growth ratio of 1.77 and a beta of 1.71. DoorDash has a 52 week low of $99.32 and a 52 week high of $181.78. The business's 50-day moving average is $173.54 and its 200-day moving average is $145.27.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. The company 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 firm's quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.19) EPS. As a group, equities research analysts forecast that DoorDash will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In other DoorDash news, COO Prabir Adarkar sold 20,000 shares of the company's stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $168.53, for a total value of $3,370,600.00. Following the completion of the transaction, the chief operating officer now owns 925,222 shares in the company, valued at approximately $155,927,663.66. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $168.32, for a total value of $8,416,000.00. Following the completion of the transaction, the director now owns 16,176 shares of the company's stock, valued at approximately $2,722,744.32. This represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,019,333 shares of company stock valued at $177,556,541 over the last ninety days. Company insiders own 7.92% of the company's stock.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. increased its position 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 buying an additional 1,645,186 shares in the last quarter. State Street Corp increased its holdings in DoorDash by 3.8% in the 3rd quarter. State Street Corp now owns 7,395,891 shares of the company's stock worth $1,055,616,000 after acquiring an additional 272,659 shares in the last quarter. Janus Henderson Group PLC raised its position in DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company's stock worth $789,766,000 after acquiring an additional 700,465 shares during the period. Geode Capital Management LLC lifted its holdings in DoorDash by 6.4% during the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company's stock valued at $636,652,000 after purchasing an additional 267,855 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of DoorDash by 15.2% in the third 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 during the period. 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.