DoorDash (NASDAQ:DASH) Reaches New 1-Year High on Analyst Upgrade

DoorDash, Inc. (NASDAQ:DASH) reached a new 52-week high during mid-day trading on Tuesday after Truist Financial raised their price target on the stock from $180.00 to $217.00. Truist Financial currently has a buy rating on the stock. DoorDash traded as high as $181.78 and last traded at $181.25, with a volume of 938393 shares trading hands. The stock had previously closed at $179.50.

DASH has been the topic of a number of other research reports. Needham & Company LLC lifted their target price on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Mizuho increased their price objective on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Citigroup upped their price target on shares of DoorDash from $155.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research note on Thursday, September 19th. Finally, KeyCorp upped their price objective on shares of DoorDash from $177.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.39.

Insider Activity at DoorDash

In related news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $179.76, for a total transaction of $1,258,320.00. Following the completion of the transaction, the chief financial officer now owns 373,993 shares in the company, valued at $67,228,981.68. The trade was a 1.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 843,196 shares of company stock valued at $139,848,818. Insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of institutional investors have recently modified their holdings of the stock. Rakuten Securities Inc. raised its holdings in shares of DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after acquiring an additional 130 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of DoorDash during the 2nd quarter worth approximately $32,000. Meeder Asset Management Inc. boosted its position in shares of DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares in the last quarter. Quest Partners LLC raised its stake in DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of DoorDash by 141.1% during the second quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock worth $38,000 after acquiring an additional 206 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Price Performance

The stock has a market cap of $75.07 billion, a price-to-earnings ratio of -397.40, a P/E/G ratio of 13.56 and a beta of 1.70. The company’s fifty day moving average price is $165.56 and its 200-day moving average price is $136.22.

DoorDash (NASDAQ:DASH) last released its 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 firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm’s revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) EPS. On average, sell-side analysts forecast that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

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.