Truist Financial Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its target price upped 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.

DASH has been the subject of several other reports. UBS Group upped their price objective on DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods raised 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. Mizuho boosted 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. Evercore ISI raised their target price on shares of DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, KeyCorp boosted their price target on shares of DoorDash from $177.00 to $180.00 and gave the stock an “overweight” 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 issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $168.39.

DoorDash Trading Down 1.4 %

DASH stock opened at $177.00 on Tuesday. The business has a 50 day simple moving average of $166.24 and a 200-day simple moving average of $136.69. The company has a market capitalization of $73.53 billion, a P/E ratio of -393.33, a PEG ratio of 13.56 and a beta of 1.70. DoorDash has a twelve month low of $93.33 and a twelve month high of $181.78.

DoorDash (NASDAQ:DASH) last issued 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 company 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) EPS. DoorDash’s revenue for the quarter was up 25.0% on a year-over-year basis. Research analysts predict that DoorDash will post 0.26 EPS for the current fiscal year.

Insider Activity

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, insider Keith Yandell sold 7,980 shares of the stock in a transaction dated Wednesday, November 20th. The stock was 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 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 90 days. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DASH. Baillie Gifford & Co. grew its holdings in DoorDash by 13.2% in 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 during the period. Dragoneer Investment Group LLC boosted its holdings in shares of 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 purchasing an additional 1,246,567 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of DoorDash by 216.1% during 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. increased its holdings 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 buying an additional 708,218 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after buying an additional 700,465 shares during the period. 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.