DoorDash (NASDAQ:DASH) Price Target Raised to $180.00

DoorDash (NASDAQ:DASH) had its price target upped by BMO Capital Markets from $140.00 to $180.00 in a research note published on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of DoorDash from $111.00 to $137.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Bank of America increased their price target on shares of DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a report on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of DoorDash in a report on Monday, October 7th. Morgan Stanley increased their target price on DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Argus initiated coverage on DoorDash in a research note on Tuesday, July 23rd. They issued a “hold” rating for the company. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $163.12.

DoorDash Stock Performance

DoorDash stock opened at $155.66 on Thursday. The stock has a 50-day simple moving average of $140.40 and a 200 day simple moving average of $124.21. The stock has a market capitalization of $64.06 billion, a P/E ratio of -345.91, a PEG ratio of 331.02 and a beta of 1.67. DoorDash has a 52 week low of $83.58 and a 52 week high of $165.07.

DoorDash (NASDAQ:DASH) last issued its 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. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative return on equity of 2.46% and a negative net margin of 1.69%. During the same period in the previous year, the company posted ($0.19) EPS. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. Research analysts forecast that DoorDash will post 0.01 earnings per share for the current year.

Insider Activity at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total transaction of $6,685,709.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Shona L. Brown sold 5,005 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $120.00, for a total value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold a total of 383,710 shares of company stock valued at $53,725,640 in the last quarter. Insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Large investors have recently modified their holdings of the business. Transcendent Capital Group LLC bought a new stake in shares of DoorDash in the third quarter worth $1,781,000. Long Walk Management LP acquired a new position in DoorDash during the 3rd quarter worth about $16,271,000. Covestor Ltd grew its position in shares of DoorDash by 32.0% in the 3rd quarter. Covestor Ltd now owns 1,878 shares of the company’s stock valued at $268,000 after buying an additional 455 shares during the last quarter. Assetmark Inc. increased its stake in shares of DoorDash by 17.4% in the third quarter. Assetmark Inc. now owns 3,519 shares of the company’s stock valued at $502,000 after buying an additional 522 shares during the period. Finally, Hollencrest Capital Management bought a new position in shares of DoorDash during the third quarter worth about $54,000. Institutional investors own 90.64% of the company’s stock.

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.