Oppenheimer Increases DoorDash (NASDAQ:DASH) Price Target to $145.00

DoorDash (NASDAQ:DASH) had its price objective lifted by research analysts at Oppenheimer from $125.00 to $145.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 23.69% from the stock’s previous close.

DASH has been the subject of a number of other reports. Wells Fargo & Company raised their price target on DoorDash from $100.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Needham & Company LLC increased their price objective on DoorDash from $137.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday. BMO Capital Markets lowered their price objective on DoorDash from $138.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Loop Capital initiated coverage on DoorDash in a research report on Friday, April 19th. They issued a “buy” rating and a $170.00 price objective on the stock. Finally, Barclays increased their price objective on DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and a consensus price target of $142.38.

DoorDash Price Performance

DoorDash stock opened at $117.23 on Friday. DoorDash has a one year low of $69.90 and a one year high of $143.34. The business has a fifty day moving average price of $109.35 and a 200-day moving average price of $118.35. The firm has a market capitalization of $47.94 billion, a P/E ratio of -108.55, a PEG ratio of 40.25 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.28). DoorDash had a negative return on equity of 6.00% and a negative net margin of 4.24%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the business earned ($0.44) earnings per share. DoorDash’s revenue was up 23.3% on a year-over-year basis. Sell-side analysts expect that DoorDash will post 0.07 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other news, insider Keith Yandell sold 12,088 shares of DoorDash stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $111.84, for a total value of $1,351,921.92. Following the transaction, the insider now owns 161,651 shares in the company, valued at $18,079,047.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Keith Yandell sold 12,088 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $111.84, for a total value of $1,351,921.92. Following the sale, the insider now directly owns 161,651 shares of the company’s stock, valued at $18,079,047.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Tia Sherringham sold 11,740 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $110.46, for a total value of $1,296,800.40. Following the completion of the sale, the general counsel now directly owns 183,512 shares in the company, valued at $20,270,735.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 459,016 shares of company stock worth $50,325,396. Company insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Several large investors have recently modified their holdings of the business. Privium Fund Management UK Ltd bought a new stake in DoorDash during the 2nd quarter valued at approximately $667,000. Rhumbline Advisers boosted its position in DoorDash by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 409,866 shares of the company’s stock valued at $44,585,000 after acquiring an additional 13,639 shares in the last quarter. Versor Investments LP bought a new stake in DoorDash during the 2nd quarter valued at approximately $1,267,000. CIBC Asset Management Inc boosted its position in DoorDash by 5.1% during the 2nd quarter. CIBC Asset Management Inc now owns 72,823 shares of the company’s stock valued at $7,922,000 after acquiring an additional 3,529 shares in the last quarter. Finally, Natixis Advisors LLC lifted its holdings in shares of DoorDash by 584.7% during the second quarter. Natixis Advisors LLC now owns 342,103 shares of the company’s stock valued at $37,214,000 after purchasing an additional 292,139 shares during the last quarter. 90.64% of the stock is 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.