DoorDash (NASDAQ:DASH) PT Raised to $160.00 at JMP Securities

DoorDash (NASDAQ:DASH) had its price objective lifted by analysts at JMP Securities from $145.00 to $160.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ target price suggests a potential upside of 12.73% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. UBS Group raised their target price on shares of DoorDash from $125.00 to $143.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods raised shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective for the company in a research note on Wednesday, September 25th. Needham & Company LLC upped their target price on DoorDash from $137.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wedbush reissued a “neutral” rating and set a $115.00 price target on shares of DoorDash in a research note on Friday, August 2nd. Finally, Barclays increased their target price on DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average target price of $146.44.

DoorDash Trading Down 0.6 %

DASH opened at $141.93 on Monday. The stock has a 50-day moving average of $126.59 and a 200 day moving average of $121.97. DoorDash has a 12 month low of $69.90 and a 12 month high of $146.36. The firm has a market cap of $58.04 billion, a P/E ratio of -131.42, a P/E/G ratio of 295.70 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.44) EPS. On average, research analysts forecast that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $104.96, for a total value of $5,685,263.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the completion of the transaction, the director now directly owns 19,982 shares in the company, valued at $2,109,499.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $104.96, for a total value of $5,685,263.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 281,503 shares of company stock worth $33,988,063. Company insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jupiter Asset Management Ltd. purchased a new stake in DoorDash in the 1st quarter worth approximately $2,969,000. D L Carlson Investment Group Inc. acquired a new position in DoorDash in the 4th quarter worth about $2,421,000. KBC Group NV boosted its position in DoorDash by 64.8% during the fourth quarter. KBC Group NV now owns 31,879 shares of the company’s stock worth $3,153,000 after purchasing an additional 12,538 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in DoorDash by 9.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 25,807 shares of the company’s stock valued at $2,807,000 after purchasing an additional 2,125 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in DoorDash by 7.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 689,785 shares of the company’s stock valued at $94,997,000 after acquiring an additional 47,725 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.