DA Davidson Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price objective increased by equities research analysts at DA Davidson from $119.00 to $150.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s target price points to a potential downside of 6.25% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price on the stock in a research report on Wednesday, September 25th. UBS Group lifted their price objective on DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Redburn Atlantic started coverage on shares of DoorDash in a report on Friday, July 26th. They issued a “buy” rating and a $170.00 target price for the company. Susquehanna lifted their price target on shares of DoorDash from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, August 5th. Finally, Barclays upped their price target on shares of DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.91.

DoorDash Price Performance

DASH stock opened at $160.00 on Thursday. The company has a market cap of $65.85 billion, a P/E ratio of -161.09, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70. DoorDash has a 1 year low of $72.65 and a 1 year high of $165.07. The stock’s fifty day moving average price is $139.31 and its 200-day moving average price is $123.83.

DoorDash (NASDAQ:DASH) last announced its earnings results 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 return on equity of 5.91% and a negative net margin of 4.24%. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the firm posted ($0.19) earnings per share. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, analysts expect that DoorDash will post 0.01 earnings per share for the current year.

Insider Transactions at DoorDash

In related news, COO Prabir Adarkar sold 32,124 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $147.99, for a total value of $4,754,030.76. Following the sale, the chief operating officer now directly owns 963,094 shares of the company’s stock, valued at $142,528,281.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other DoorDash news, COO Prabir Adarkar sold 32,124 shares of the stock in a transaction 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 sale, the chief operating officer now owns 963,094 shares in the company, valued at $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 SEC, which is available at this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the sale, the director now owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 383,710 shares of company stock worth $53,725,640. 7.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DoorDash

A number of institutional investors have recently modified their holdings of DASH. Wealth Enhancement Advisory Services LLC lifted its stake in DoorDash by 26.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,802 shares of the company’s stock worth $1,488,000 after acquiring an additional 2,237 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of DoorDash by 38.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 271,024 shares of the company’s stock worth $37,325,000 after purchasing an additional 75,272 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of DoorDash by 7.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 689,785 shares of the company’s stock valued at $94,997,000 after purchasing an additional 47,725 shares in the last quarter. Norden Group LLC bought a new stake in DoorDash during the 1st quarter valued at $1,135,000. Finally, First Trust Direct Indexing L.P. increased its holdings in shares of DoorDash by 10.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 4,780 shares of the company’s stock valued at $658,000 after acquiring an additional 437 shares during the period. 90.64% of the stock is owned by hedge funds and other 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.