DoorDash (NASDAQ:DASH) Price Target Raised to $225.00 at KeyCorp

DoorDash (NASDAQ:DASH) had its price objective upped by analysts at KeyCorp from $180.00 to $225.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 29.52% from the company’s previous close.

A number of other brokerages have also recently weighed in on DASH. DA Davidson raised their target price on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Truist Financial raised their price objective on DoorDash from $180.00 to $217.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Barclays boosted their target price on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 target price on shares of DoorDash in a report on Thursday, January 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of DoorDash in a research note on Monday, October 7th. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.79.

DoorDash Stock Up 2.2 %

Shares of DASH stock opened at $173.72 on Thursday. The stock has a 50-day simple moving average of $172.46 and a 200 day simple moving average of $142.99. The stock has a market capitalization of $72.16 billion, a P/E ratio of -386.04, a P/E/G ratio of 13.56 and a beta of 1.71. DoorDash has a fifty-two week low of $97.02 and a fifty-two week high of $181.78.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. DoorDash’s revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.19) EPS. On average, sell-side analysts anticipate that DoorDash will post 0.26 earnings per share for the current year.

Insider Activity

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’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 completion of the sale, the director now owns 18,089 shares of the company’s stock, valued at $2,710,274.87. This represents a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 108,332 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total value of $18,454,356.20. Following the transaction, the chief executive officer now owns 1,500 shares in the company, valued at approximately $255,525. This trade represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,032,694 shares of company stock worth $175,964,786. 7.92% of the stock is owned by corporate insiders.

Institutional Trading of DoorDash

Several large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its holdings in DoorDash by 34.5% during the second quarter. Commonwealth Equity Services LLC now owns 6,275 shares of the company’s stock valued at $683,000 after acquiring an additional 1,611 shares during the period. Private Advisor Group LLC boosted its stake in DoorDash by 15.1% during the 2nd quarter. Private Advisor Group LLC now owns 17,062 shares of the company’s stock valued at $1,856,000 after purchasing an additional 2,232 shares during the period. Quest Partners LLC grew its holdings in DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares during the last quarter. Prudential PLC increased its position in DoorDash by 91.4% in the 2nd quarter. Prudential PLC now owns 5,148 shares of the company’s stock worth $560,000 after buying an additional 2,459 shares during the period. Finally, Choreo LLC acquired a new position in shares of DoorDash during the second quarter worth approximately $465,000. 90.64% of the stock is 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.