DoorDash (NASDAQ:DASH) Price Target Increased to $150.00 by Analysts at Truist Financial

DoorDash (NASDAQ:DASH) had its price objective boosted by Truist Financial from $145.00 to $150.00 in a report issued on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

DASH has been the topic of several other research reports. Citigroup upped their price target on DoorDash from $141.00 to $144.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Royal Bank of Canada reduced their target price on shares of DoorDash from $175.00 to $165.00 and set an outperform rating on the stock in a report on Thursday, May 2nd. Oppenheimer boosted their price target on shares of DoorDash from $140.00 to $150.00 and gave the stock an outperform rating in a report on Monday, April 29th. BMO Capital Markets reduced their price objective on shares of DoorDash from $138.00 to $127.00 and set an outperform rating on the stock in a report on Thursday, May 2nd. Finally, Wells Fargo & Company boosted their target price on shares of DoorDash from $100.00 to $125.00 and gave the stock an equal weight rating in a research note on Thursday, April 4th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $141.93.

DoorDash Trading Up 2.2 %

DASH traded up $2.69 during mid-day trading on Friday, hitting $123.99. 4,711,825 shares of the stock were exchanged, compared to its average volume of 4,112,133. The company has a market cap of $50.70 billion, a PE ratio of -112.54, a PEG ratio of 40.25 and a beta of 1.67. The firm’s fifty day moving average is $109.52 and its two-hundred day moving average is $118.57. DoorDash has a 1-year low of $69.90 and a 1-year 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 the consensus estimate of ($0.09) by ($0.29). The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative return on equity of 6.00% and a negative net margin of 4.24%. The business’s revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.44) EPS. As a group, research analysts anticipate that DoorDash will post 0.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 131,590 shares of DoorDash stock in a transaction dated 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 filing with the SEC, which is available at this hyperlink. In other news, CEO Tony Xu sold 131,590 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $113.40, for a total value of $5,670,000.00. Following the completion of the sale, the director now owns 39,275 shares in the company, valued at $4,453,785. The disclosure for this sale can be found here. In the last quarter, insiders sold 459,016 shares of company stock worth $50,325,396. 7.92% of the stock is owned by insiders.

Hedge Funds Weigh In On DoorDash

A number of institutional investors and hedge funds have recently made changes to their positions in DASH. Wells Fargo & Company MN grew its position in 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 buying an additional 100,787 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of DoorDash in the 1st quarter worth approximately $2,969,000. Sequoia Financial Advisors LLC purchased a new position in DoorDash in the 4th quarter valued at approximately $769,000. Bank of Nova Scotia raised its holdings in DoorDash by 298.3% during 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 last quarter. Finally, Franklin Resources Inc. boosted its position in DoorDash by 294.5% during the fourth 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 in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

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.