DoorDash (NASDAQ:DASH) Given New $180.00 Price Target at Truist Financial

DoorDash (NASDAQ:DASH) had its target price upped by Truist Financial from $170.00 to $180.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 14.91% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Jefferies Financial Group upped their price target on DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday. Argus started coverage on DoorDash in a research note on Tuesday, July 23rd. They set a “hold” rating on the stock. KeyCorp raised DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 price objective on the stock in a research note on Wednesday, September 25th. Finally, Needham & Company LLC raised their price target on DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.12.

DoorDash Price Performance

Shares of DASH stock traded up $1.39 during trading hours on Thursday, hitting $156.64. The stock had a trading volume of 5,540,588 shares, compared to its average volume of 3,831,769. DoorDash has a twelve month low of $72.65 and a twelve month high of $165.07. The stock’s 50 day moving average is $139.31 and its 200 day moving average is $123.83. The firm has a market capitalization of $64.46 billion, a PE ratio of -153.57, a PEG ratio of 425.82 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the business earned ($0.19) earnings per share. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, equities analysts predict that DoorDash will post 0.01 earnings per share for the current year.

Insider Transactions at DoorDash

In related news, Director Shona L. Brown sold 5,005 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $120.00, for a total transaction of $600,600.00. Following the completion of the transaction, the director now owns 65,186 shares in the company, valued at $7,822,320. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total transaction of $6,685,709.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shona L. Brown sold 5,005 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the transaction, the director now owns 65,186 shares of the company’s stock, valued at $7,822,320. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 383,710 shares of company stock worth $53,725,640. 7.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. M&G PLC acquired a new position in DoorDash during the 3rd quarter worth $9,967,000. Avidian Wealth Enterprises LLC bought a new stake in shares of DoorDash in the 3rd quarter worth $316,000. ASB Consultores LLC raised its stake in shares of DoorDash by 26.0% in the 3rd quarter. ASB Consultores LLC now owns 3,657 shares of the company’s stock worth $522,000 after buying an additional 754 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in shares of DoorDash by 14.6% in the 3rd quarter. Gulf International Bank UK Ltd now owns 23,855 shares of the company’s stock worth $3,404,000 after buying an additional 3,044 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of DoorDash by 10.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after buying an additional 10,755 shares in the last quarter. Institutional investors and hedge funds 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.