DoorDash (NASDAQ:DASH) Price Target Raised to $200.00

DoorDash (NASDAQ:DASH) had its target price upped by equities researchers at Loop Capital from $170.00 to $200.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Loop Capital’s price target indicates a potential upside of 13.08% from the company’s current price.

A number of other brokerages have also weighed in on DASH. Jefferies Financial Group raised their target price on DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. KeyCorp boosted their target price on shares of DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Evercore ISI upped their price target on DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. The Goldman Sachs Group lifted their price target on DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research report on Thursday, September 19th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $164.03.

DoorDash Trading Up 1.1 %

NASDAQ DASH traded up $1.92 during trading hours on Tuesday, reaching $176.87. The company had a trading volume of 1,304,419 shares, compared to its average volume of 3,823,443. The stock has a 50-day moving average of $145.10 and a 200 day moving average of $125.75. The stock has a market capitalization of $73.47 billion, a P/E ratio of -393.04, a price-to-earnings-growth ratio of 14.42 and a beta of 1.67. DoorDash has a 1-year low of $86.33 and a 1-year high of $177.22.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the business posted ($0.19) EPS. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, sell-side analysts predict that DoorDash will post 0.24 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 54,166 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the sale, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 324,539 shares of company stock valued at $46,439,330. 7.92% of the stock is currently 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 the business. Rakuten Securities Inc. increased its position in DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the period. Headlands Technologies LLC bought a new stake in shares of DoorDash in the 2nd quarter worth approximately $32,000. Meeder Asset Management Inc. raised its position in DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 132 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after buying an additional 259 shares in the last quarter. Finally, Quest Partners LLC lifted its position in DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares in the last quarter. Hedge funds and other 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.