DoorDash (NASDAQ:DASH) Price Target Raised to $175.00 at Royal Bank of Canada

DoorDash (NASDAQ:DASH) had its target price increased by research analysts at Royal Bank of Canada from $165.00 to $175.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 12.42% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on DASH. Wells Fargo & Company upped their target price on DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, October 4th. KeyCorp upgraded DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 target price for the company in a research note on Wednesday, September 25th. Piper Sandler upped their target price on DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday. Redburn Atlantic initiated coverage on DoorDash in a research note on Friday, July 26th. They set a “buy” rating and a $170.00 target price for the company. Finally, Oppenheimer upped their target price on DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.12.

DoorDash Trading Down 0.7 %

Shares of DASH stock opened at $155.66 on Thursday. The stock has a market cap of $64.06 billion, a P/E ratio of -345.91, a price-to-earnings-growth ratio of 331.02 and a beta of 1.70. The stock has a 50 day simple moving average of $140.40 and a 200 day simple moving average of $124.21. DoorDash has a 1 year low of $83.58 and a 1 year high of $165.07.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.46% and a negative net margin of 1.69%. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) earnings per share. Analysts forecast that DoorDash will post 0.01 EPS for the current year.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,355,187.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Shona L. Brown sold 5,005 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were 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 approximately $7,822,320. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,710 shares of company stock worth $53,725,640. Company insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several large investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its position in DoorDash by 0.8% in the 2nd quarter. Baillie Gifford & Co. now owns 12,497,488 shares of the company’s stock valued at $1,359,477,000 after acquiring an additional 94,241 shares in the last quarter. Capital World Investors lifted its position in DoorDash by 0.8% in the 1st quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock valued at $1,304,242,000 after acquiring an additional 74,504 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in DoorDash by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock valued at $753,281,000 after acquiring an additional 242,956 shares in the last quarter. Janus Henderson Group PLC lifted its position in DoorDash by 11,416.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after acquiring an additional 3,425,115 shares in the last quarter. Finally, Dragoneer Investment Group LLC lifted its position in DoorDash by 77.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after acquiring an additional 1,246,567 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.