DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Piper Sandler Analyst Says

DoorDash (NASDAQ:DASH) had its price target raised by Piper Sandler from $125.00 to $160.00 in a research report sent to investors on Thursday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

DASH has been the topic of several other reports. Mizuho raised their price objective on shares of DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Barclays lifted their price target on shares of DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Evercore ISI lifted their price target on shares of DoorDash from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of DoorDash in a report on Monday, October 7th. Finally, Wolfe Research started coverage on shares of DoorDash in a report on Tuesday, July 16th. They issued an “outperform” rating and a $130.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.12.

DoorDash Price Performance

Shares of DoorDash stock opened at $155.66 on Thursday. The company’s fifty day simple moving average is $140.40 and its 200-day simple moving average is $124.15. The stock has a market capitalization of $64.06 billion, a PE ratio of -345.91, a P/E/G ratio of 359.82 and a beta of 1.67. DoorDash has a 1-year low of $83.58 and a 1-year high of $165.07.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the firm earned ($0.19) EPS. As a group, research analysts anticipate that DoorDash will post 0.01 EPS for the current year.

Insider Activity

In other news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total value of $6,685,709.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the transaction, the chief financial officer now owns 396,152 shares in the company, valued at $50,651,994.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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. In the last quarter, insiders sold 378,705 shares of company stock worth $53,125,040. 7.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. ORG Partners LLC increased its stake in DoorDash by 2,108.3% during the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 253 shares in the last quarter. Headlands Technologies LLC acquired a new position in DoorDash during the 2nd quarter valued at approximately $32,000. Meeder Asset Management Inc. increased its stake in DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares in the last quarter. Hollencrest Capital Management acquired a new position in DoorDash during the 1st quarter valued at approximately $42,000. Finally, Versant Capital Management Inc increased its stake in DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 259 shares in the last quarter. Institutional investors 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.