DoorDash, Inc. (NASDAQ:DASH) Receives $166.06 Average Price Target from Analysts

DoorDash, Inc. (NASDAQ:DASH) has been given an average recommendation of “Moderate Buy” by the thirty-four ratings firms that are currently covering the company, MarketBeat reports. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $166.06.

DASH has been the topic of a number of research reports. DA Davidson upped their price target on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Loop Capital raised their price target on DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target for the company in a report on Wednesday, September 25th. Evercore ISI increased their price objective on DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Mizuho lifted their price objective on shares of DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th.

Insider Activity

In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the sale, the director now directly owns 18,089 shares in the company, valued at $2,355,187.80. This 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, insider Keith Yandell sold 7,980 shares of DoorDash stock in a transaction dated 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 transaction, the insider now owns 124,221 shares in the company, valued at $21,115,085.58. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 661,596 shares of company stock valued at $105,386,905 in the last quarter. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rakuten Securities Inc. boosted its stake in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the period. Meeder Asset Management Inc. increased its position in shares of DoorDash by 82.0% during 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 during the last quarter. Headlands Technologies LLC bought a new stake in DoorDash during the second quarter worth $32,000. Versant Capital Management Inc lifted its holdings in DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 259 shares during the last quarter. Finally, Quest Partners LLC grew its position in shares of 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 purchasing an additional 204 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Stock Down 0.2 %

DASH stock opened at $176.09 on Friday. The company has a 50-day simple moving average of $158.85 and a 200 day simple moving average of $131.73. The company has a market capitalization of $73.15 billion, a P/E ratio of -391.31, a PEG ratio of 13.56 and a beta of 1.70. DoorDash has a fifty-two week low of $93.33 and a fifty-two week high of $181.30.

DoorDash (NASDAQ:DASH) last issued its quarterly 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. 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 during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the firm earned ($0.19) EPS. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. Equities analysts anticipate that DoorDash will post 0.26 EPS for the current 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.