DoorDash (NASDAQ:DASH) Reaches New 52-Week High on Analyst Upgrade

DoorDash, Inc. (NASDAQ:DASH)’s stock price hit a new 52-week high during trading on Thursday after Bank of America raised their price target on the stock from $172.00 to $205.00. Bank of America currently has a buy rating on the stock. DoorDash traded as high as $182.18 and last traded at $182.51, with a volume of 1428991 shares changing hands. The stock had previously closed at $177.68.

DASH has been the topic of several other reports. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target on the stock in a report on Wednesday, September 25th. Piper Sandler lifted their target price on DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Citigroup boosted their target price on shares of DoorDash from $155.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Barclays raised their price target on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $176.97.

Insider Transactions at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $172.67, for a total value of $8,633,500.00. Following the completion of the transaction, the director now owns 18,089 shares of the company’s stock, valued at approximately $3,123,427.63. This trade represents a 73.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Tony Xu sold 115,432 shares of DoorDash 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 of the company’s stock, valued at $265,515. The trade was a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,019,333 shares of company stock valued at $177,556,541 in the last quarter. 7.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. raised its stake in shares of DoorDash by 10.6% in the third quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after purchasing an additional 10,755 shares during the last quarter. Forsta AP Fonden increased its holdings in DoorDash by 18.6% in the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after buying an additional 10,100 shares during the period. Sanctuary Advisors LLC raised its position in DoorDash by 48.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock worth $1,522,000 after buying an additional 3,498 shares during the last quarter. Baillie Gifford & Co. lifted its stake in DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after acquiring an additional 1,645,186 shares during the period. Finally, CWM LLC boosted its holdings in shares of DoorDash by 97.1% in the 3rd quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after acquiring an additional 5,273 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Up 0.1 %

The stock’s 50 day moving average price is $174.13 and its two-hundred day moving average price is $148.18. The stock has a market cap of $76.15 billion, a price-to-earnings ratio of -407.38, a price-to-earnings-growth ratio of 1.85 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.19) EPS. On average, analysts predict that DoorDash, Inc. will post 0.29 earnings per share for the current fiscal 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.