DoorDash (NASDAQ:DASH) Price Target Raised to $217.00

DoorDash (NASDAQ:DASH - Free Report) had its price objective increased by Truist Financial from $180.00 to $217.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also commented on DASH. 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 research note on Thursday, October 31st. Jefferies Financial Group upped their target price on shares of DoorDash from $155.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. The Goldman Sachs Group lifted their price target on DoorDash from $142.00 to $161.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. KeyCorp increased their price objective on DoorDash from $177.00 to $180.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $160.00 target price on shares of DoorDash in a research report on Monday, October 7th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $168.39.

DoorDash Stock Performance

Shares of NASDAQ DASH traded down $2.50 during trading on Tuesday, hitting $177.00. 2,765,128 shares of the company traded hands, compared to its average volume of 3,720,812. The firm has a market capitalization of $73.53 billion, a price-to-earnings ratio of -393.33, a P/E/G ratio of 13.56 and a beta of 1.70. The business's fifty day moving average is $166.24 and its 200 day moving average is $136.69. DoorDash has a fifty-two week low of $93.33 and a fifty-two week high of $181.78.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.17. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company's quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) earnings per share. On average, analysts predict that DoorDash will post 0.26 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 54,166 shares of the company's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 three months, insiders have sold 843,196 shares of company stock valued at $139,848,818. Insiders own 7.92% of the company's stock.

Institutional Investors Weigh In On DoorDash

A number of institutional investors have recently bought and sold shares of DASH. Asset Management One Co. Ltd. grew its stake in DoorDash by 10.6% during the third quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company's stock valued at $16,012,000 after acquiring an additional 10,755 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of DoorDash by 930.5% during the 2nd quarter. Marshall Wace LLP now owns 675,988 shares of the company's stock valued at $73,534,000 after purchasing an additional 610,388 shares during the last quarter. Forsta AP Fonden boosted its holdings in shares of DoorDash by 18.6% during the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company's stock valued at $9,206,000 after purchasing an additional 10,100 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of 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 purchasing an additional 1,645,186 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of DoorDash by 97.1% in the third quarter. CWM LLC now owns 10,705 shares of the company's stock worth $1,528,000 after purchasing an additional 5,273 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

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.