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

DoorDash (NASDAQ:DASH) had its target price increased by analysts at Mizuho from $162.00 to $173.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price objective suggests a potential upside of 14.63% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of DoorDash from $111.00 to $137.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. JMP Securities lifted their target price on shares of DoorDash from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Monday, September 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of DoorDash in a research note on Monday, October 7th. Evercore ISI increased their target price on DoorDash from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Roth Mkm raised their price objective on DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $151.00.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $150.92 on Thursday. The stock has a market capitalization of $61.71 billion, a price-to-earnings ratio of -139.74, a PEG ratio of 425.82 and a beta of 1.70. DoorDash has a one year low of $69.90 and a one year high of $154.16. The company has a 50-day simple moving average of $136.81 and a 200-day simple moving average of $123.27.

DoorDash (NASDAQ:DASH) last released its 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). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm posted ($0.44) EPS. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, research analysts forecast that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Transactions at DoorDash

In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Monday, October 14th. The shares were sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the transaction, the director now owns 18,089 shares in the company, valued at approximately $2,710,274.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other DoorDash news, COO Prabir Adarkar sold 32,124 shares of DoorDash stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the transaction, the chief operating officer now owns 963,094 shares of the company’s stock, valued at $142,528,281.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the sale, the director now owns 18,089 shares of the company’s stock, valued at approximately $2,710,274.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 390,710 shares of company stock valued at $54,472,120. 7.92% of the stock is currently owned by insiders.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently made changes to their positions in DASH. Janus Henderson Group PLC lifted its position in DoorDash by 11,416.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after buying an additional 3,425,115 shares during the last quarter. Dragoneer Investment Group LLC increased its position in DoorDash by 77.9% during 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 period. Canada Pension Plan Investment Board boosted its stake in shares of DoorDash by 595.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock valued at $122,830,000 after purchasing an additional 763,579 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings 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 worth $154,486,000 after acquiring an additional 739,961 shares during the period. Finally, Jupiter Asset Management Ltd. raised its holdings in DoorDash by 3,284.7% in the second quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock worth $79,385,000 after purchasing an additional 708,218 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

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.