DoorDash (NASDAQ:DASH) Price Target Raised to $217.00

DoorDash (NASDAQ:DASH) had its target price raised by Truist Financial from $180.00 to $217.00 in a research note released on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities research analysts have also commented on DASH. Susquehanna increased their price objective on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Loop Capital increased their price target on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Raymond James initiated coverage on shares of DoorDash in a report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price target for the company. The Goldman Sachs Group upped their price objective on DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Bank of America lifted their target price on DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $168.39.

DoorDash Trading Up 1.4 %

NASDAQ DASH opened at $167.65 on Tuesday. DoorDash has a 1-year low of $93.33 and a 1-year high of $181.78. The company has a 50 day moving average of $167.15 and a 200-day moving average of $137.10. The firm has a market cap of $69.64 billion, a price-to-earnings ratio of -372.56, a PEG ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly 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 return on equity of 2.41% and a negative net margin of 1.69%. 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 firm posted ($0.19) EPS. The business’s revenue was up 25.0% on a year-over-year basis. On average, analysts forecast that DoorDash will post 0.26 earnings per share for the current year.

Insider Transactions at DoorDash

In other news, insider Keith Yandell sold 7,980 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $1,356,440.40. Following the sale, the insider now owns 124,221 shares of the company’s stock, valued at $21,115,085.58. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stanley Tang sold 1,855 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $315,312.90. Following the completion of the transaction, the director now directly owns 35,413 shares of the company’s stock, valued at approximately $6,019,501.74. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 951,528 shares of company stock valued at $159,212,079 over the last three months. Company insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DASH. Envestnet Portfolio Solutions Inc. grew its stake in shares of DoorDash by 5.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,034 shares of the company’s stock valued at $656,000 after buying an additional 302 shares in the last quarter. Blue Trust Inc. grew its position in shares of DoorDash by 1,505.3% in the 2nd quarter. Blue Trust Inc. now owns 610 shares of the company’s stock valued at $66,000 after acquiring an additional 572 shares during the period. Raymond James & Associates grew its position in shares of DoorDash by 15.7% in the 2nd quarter. Raymond James & Associates now owns 80,350 shares of the company’s stock valued at $8,740,000 after acquiring an additional 10,899 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of DoorDash by 141.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock valued at $38,000 after purchasing an additional 206 shares during the period. Finally, Fifth Third Bancorp lifted its stake in DoorDash by 136.4% in the 2nd quarter. Fifth Third Bancorp now owns 364 shares of the company’s stock valued at $40,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.