Roth Mkm Increases DoorDash (NASDAQ:DASH) Price Target to $124.00

DoorDash (NASDAQ:DASH) had its target price lifted by investment analysts at Roth Mkm from $118.00 to $124.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Roth Mkm’s price objective would suggest a potential upside of 4.29% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Piper Sandler restated a “neutral” rating and set a $125.00 price objective (up from $115.00) on shares of DoorDash in a research note on Friday. Argus began coverage on shares of DoorDash in a research report on Tuesday, July 23rd. They set a “hold” rating for the company. JMP Securities increased their price target on DoorDash from $140.00 to $145.00 and gave the stock a “market outperform” rating in a research report on Friday. Redburn Atlantic started coverage on DoorDash in a research note on Friday, July 26th. They set a “buy” rating and a $170.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on DoorDash from $111.00 to $137.00 and gave the stock a “neutral” rating in a research report on Friday. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.81.

DoorDash Price Performance

NASDAQ DASH traded up $1.67 during trading hours on Monday, hitting $118.90. The company had a trading volume of 4,823,502 shares, compared to its average volume of 4,065,122. The firm’s 50 day moving average is $109.35 and its 200 day moving average is $118.46. The company has a market capitalization of $48.62 billion, a price-to-earnings ratio of -110.39, a P/E/G ratio of 40.25 and a beta of 1.67. DoorDash has a fifty-two week low of $69.90 and a fifty-two week high of $143.34.

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 ($0.09) by ($0.29). DoorDash had a negative return on equity of 6.00% and a negative net margin of 4.24%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter last year, the business posted ($0.44) earnings per share. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, equities analysts anticipate that DoorDash will post 0.07 EPS for the current year.

Insider Activity

In other news, CEO Tony Xu sold 131,590 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $111.61, for a total value of $14,686,759.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other DoorDash news, CEO Tony Xu sold 131,590 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $111.61, for a total value of $14,686,759.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Tia Sherringham sold 11,740 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $110.46, for a total transaction of $1,296,800.40. Following the completion of the transaction, the general counsel now 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 ninety days, insiders have sold 459,016 shares of company stock worth $50,325,396. Company insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its position in shares of DoorDash by 102.5% during the fourth quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock worth $19,694,000 after purchasing an additional 100,787 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of DoorDash in the 1st quarter valued at $2,969,000. Sequoia Financial Advisors LLC bought a new position in DoorDash in the fourth quarter valued at about $769,000. Bank of Nova Scotia increased its position in DoorDash by 298.3% in the fourth quarter. Bank of Nova Scotia now owns 186,201 shares of the company’s stock worth $18,413,000 after purchasing an additional 139,450 shares during the period. Finally, Franklin Resources Inc. raised its holdings in DoorDash by 294.5% during the 4th quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock worth $158,993,000 after purchasing an additional 1,200,181 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

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.