DoorDash (NASDAQ:DASH) Price Target Raised to $173.00 at Benchmark

DoorDash (NASDAQ:DASH) had its price target increased by Benchmark from $152.00 to $173.00 in a research report sent to investors on Thursday morning, Benzinga reports. Benchmark currently has a buy rating on the stock.

Several other analysts have also issued reports on DASH. Keefe, Bruyette & Woods raised shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target on the stock in a research report on Wednesday, September 25th. Barclays raised their target price on shares of DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Morgan Stanley boosted their price target on DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Needham & Company LLC raised their price objective on DoorDash from $137.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets boosted their target price on DoorDash from $127.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.63.

DoorDash Stock Up 1.0 %

NASDAQ DASH opened at $151.40 on Thursday. The stock has a market cap of $61.91 billion, a P/E ratio of -140.19, a PEG ratio of 425.82 and a beta of 1.70. DoorDash has a twelve month low of $69.90 and a twelve month high of $152.11. The company’s 50-day simple moving average is $134.69 and its 200 day simple moving average is $122.97.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates 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 business earned ($0.44) EPS. Research analysts anticipate that DoorDash will post 0.01 earnings per share for the current year.

Insider Transactions at DoorDash

In other news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total value of $746,480.00. Following the completion of the transaction, the chief financial officer now owns 417,223 shares in the company, valued at approximately $44,492,660.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Prabir Adarkar sold 32,124 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total value of $4,754,030.76. Following the completion of the sale, the chief operating officer now owns 963,094 shares of the company’s stock, valued at approximately $142,528,281.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total value of $746,480.00. Following the completion of the transaction, the chief financial officer now owns 417,223 shares of the company’s stock, valued at $44,492,660.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 390,710 shares of company stock worth $54,472,120. 7.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. grew its position in DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares during the last quarter. Headlands Technologies LLC purchased a new position in DoorDash in the 2nd quarter valued at $32,000. Versant Capital Management Inc grew its position in DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares during the last quarter. ORG Partners LLC lifted its holdings in DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 253 shares during the period. Finally, Quest Partners LLC lifted its holdings in 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 acquiring an additional 204 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.