DoorDash (NASDAQ:DASH) Hits New 1-Year High on Analyst Upgrade

DoorDash, Inc. (NASDAQ:DASH) shares hit a new 52-week high during mid-day trading on Tuesday after Truist Financial raised their price target on the stock from $180.00 to $217.00. Truist Financial currently has a buy rating on the stock. DoorDash traded as high as $181.78 and last traded at $181.25, with a volume of 938393 shares changing hands. The stock had previously closed at $179.50.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods upgraded shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target for the company in a research note on Wednesday, September 25th. Loop Capital raised their target price on DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Mizuho upped 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. Finally, BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Thursday, September 19th. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $168.39.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 115,432 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total transaction of $20,432,618.32. Following the sale, the chief executive officer now owns 1,500 shares in the company, valued at $265,515. This trade represents a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $176.66, for a total value of $8,833,000.00. Following the completion of the sale, the director now directly owns 16,176 shares in the company, valued at approximately $2,857,652.16. The trade was a 75.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 843,196 shares of company stock valued at $139,848,818 over the last three months. 7.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DoorDash

Several hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. raised its stake in DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares during the period. State Street Corp grew its position in DoorDash by 3.8% during the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after acquiring an additional 272,659 shares during the period. Janus Henderson Group PLC increased its stake in DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after acquiring an additional 700,465 shares during the last quarter. Geode Capital Management LLC increased its stake in DoorDash by 6.4% during the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after acquiring an additional 267,855 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after purchasing an additional 501,905 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Trading Down 1.4 %

The firm has a market capitalization of $73.53 billion, a price-to-earnings ratio of -393.33, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70. The firm has a 50 day moving average price of $166.24 and a two-hundred day moving average price of $136.69.

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. 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%. DoorDash’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.19) earnings per share. As a group, research analysts forecast that DoorDash, Inc. will post 0.26 earnings per share 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.