DoorDash (NASDAQ:DASH) Sets New 12-Month High Following Analyst Upgrade

DoorDash, Inc. (NASDAQ:DASH) shares reached a new 52-week high during trading on Thursday after Bank of America raised their price target on the stock from $172.00 to $205.00. Bank of America currently has a buy rating on the stock. DoorDash traded as high as $182.18 and last traded at $182.51, with a volume of 1428991 shares traded. The stock had previously closed at $177.68.

Several other research firms have also issued reports on DASH. UBS Group increased their target price on shares of DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Jefferies Financial Group boosted their price target on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Needham & Company LLC lifted their target price on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their price objective on DoorDash from $150.00 to $166.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, Benchmark lifted their target price on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.97.

Insider Transactions at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $168.32, for a total value of $8,416,000.00. Following the completion of the sale, the director now directly owns 16,176 shares in the company, valued at approximately $2,722,744.32. The trade was a 75.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Tony Xu sold 108,332 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total value of $18,443,523.00. Following the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $255,375. This trade represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,019,333 shares of company stock worth $177,556,541. 7.92% of the stock is owned by insiders.

Hedge Funds Weigh In On DoorDash

Several institutional investors and hedge funds have recently added to or reduced their stakes in DASH. Asset Management One Co. Ltd. lifted its position in shares of DoorDash by 10.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after purchasing an additional 10,755 shares during the period. Marshall Wace LLP boosted its position in DoorDash by 930.5% during the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after acquiring an additional 610,388 shares during the last quarter. Forsta AP Fonden grew its holdings in DoorDash by 18.6% during the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after acquiring an additional 10,100 shares during the period. Sanctuary Advisors LLC raised its position in shares of DoorDash by 48.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock worth $1,522,000 after acquiring an additional 3,498 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its stake in shares of DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Stock Up 3.0 %

The firm has a 50 day moving average of $173.66 and a 200 day moving average of $147.42. The firm has a market cap of $76.01 billion, a price-to-earnings ratio of -406.72, a PEG ratio of 1.88 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating 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 net margin of 1.69% and a negative return on equity of 2.41%. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.19) earnings per share. Equities analysts expect that DoorDash, Inc. will post 0.27 EPS for the current year.

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.