Bank of America Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price objective boosted by Bank of America from $172.00 to $205.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company increased their target price on DoorDash from $150.00 to $166.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Loop Capital raised their price objective on DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Keefe, Bruyette & Woods raised DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price for the company in a research note on Wednesday, September 25th. Piper Sandler lifted their price target on shares of DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, UBS Group upped their price objective on shares of DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $176.97.

DoorDash Stock Up 3.1 %

NASDAQ:DASH opened at $183.13 on Thursday. The stock has a market cap of $76.07 billion, a P/E ratio of -406.96, a PEG ratio of 1.88 and a beta of 1.71. The business’s 50-day moving average price is $173.85 and its two-hundred day moving average price is $147.67. DoorDash has a twelve month low of $99.32 and a twelve month high of $183.48.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the firm posted ($0.19) earnings per share. DoorDash’s quarterly revenue was up 25.0% on a year-over-year basis. On average, equities research analysts expect that DoorDash will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at $3,123,427.63. This trade represents a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the transaction, the chief executive officer now owns 1,500 shares in the company, valued at approximately $255,375. The trade was a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,019,333 shares of company stock worth $177,556,541 in the last three months. 7.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Asset Management One Co. Ltd. grew its holdings in shares of DoorDash by 10.6% during the third quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock valued at $16,012,000 after buying an additional 10,755 shares during the last quarter. Forsta AP Fonden increased its holdings in shares of DoorDash by 18.6% in the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after purchasing an additional 10,100 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of DoorDash by 48.8% in the third quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock worth $1,522,000 after purchasing an additional 3,498 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of DoorDash by 13.2% during the third 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 in the last quarter. Finally, CWM LLC boosted its position in shares of DoorDash by 97.1% during the third quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after buying an additional 5,273 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.