DoorDash (NASDAQ:DASH) Reaches New 52-Week High – Still a Buy?

DoorDash, Inc. (NASDAQ:DASH) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $178.99 and last traded at $178.99, with a volume of 4250 shares trading hands. The stock had previously closed at $177.24.

Wall Street Analyst Weigh In

DASH has been the topic of a number of research reports. Keefe, Bruyette & Woods upgraded shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price on the stock in a report on Wednesday, September 25th. Piper Sandler boosted their price objective on shares of DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Roth Mkm boosted their price objective on shares of DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. DA Davidson boosted their price objective on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Susquehanna boosted their price objective on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $164.03.

DoorDash Trading Down 0.5 %

The company’s fifty day simple moving average is $153.61 and its 200-day simple moving average is $129.08.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the business earned ($0.19) earnings per share. DoorDash’s revenue was up 25.0% compared to the same quarter last year. As a group, equities research analysts predict that DoorDash, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on 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 $2,355,187.80. The trade was a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 547,753 shares of company stock worth $84,544,996 over the last three months. Insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several institutional investors have recently bought and sold shares of DASH. Baillie Gifford & Co. increased its stake in 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 buying an additional 1,645,186 shares during the period. Dragoneer Investment Group LLC increased its stake 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 buying an additional 1,246,567 shares during the period. Allspring Global Investments Holdings LLC increased its stake in DoorDash by 216.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock valued at $154,486,000 after buying an additional 739,961 shares during the period. Jupiter Asset Management Ltd. grew its stake in shares of DoorDash by 3,284.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock worth $79,385,000 after purchasing an additional 708,218 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of DoorDash by 14.5% during the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after purchasing an additional 700,465 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

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.