DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Bank of America Analyst Says

DoorDash (NASDAQ:DASH) had its target price increased by investment analysts at Bank of America from $172.00 to $205.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 11.83% from the company’s previous close.

Several other research firms have also commented on DASH. Barclays increased their price objective on shares of DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. The Goldman Sachs Group lifted their price target on DoorDash from $161.00 to $192.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. DA Davidson upped their price objective on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $200.00 price objective on shares of DoorDash in a research note on Thursday, January 2nd. Finally, KeyCorp boosted their target price on DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given 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 price target of $176.97.

DoorDash Trading Up 0.1 %

NASDAQ:DASH opened at $183.32 on Thursday. The business’s 50-day moving average is $174.13 and its 200 day moving average is $148.18. DoorDash has a 12 month low of $99.32 and a 12 month high of $184.26. The company has a market capitalization of $76.15 billion, a P/E ratio of -407.38, a P/E/G ratio of 1.85 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data 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. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) EPS. On average, research analysts forecast that DoorDash will post 0.29 earnings per share for the current year.

Insider Activity

In related news, General Counsel Tia Sherringham sold 12,950 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $2,201,241.00. Following the completion of the sale, the general counsel now owns 145,917 shares of the company’s stock, valued at $24,802,971.66. This represents a 8.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares in the company, valued at $255,375. This represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,019,333 shares of company stock worth $177,556,541. 7.92% of the stock is currently owned by company insiders.

Institutional Trading of DoorDash

Institutional investors have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB increased its position in DoorDash by 34.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock valued at $46,000 after buying an additional 69 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of DoorDash by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock worth $1,970,000 after acquiring an additional 84 shares during the last quarter. Pallas Capital Advisors LLC increased its holdings in shares of DoorDash by 3.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock valued at $414,000 after acquiring an additional 88 shares in the last quarter. Central Pacific Bank Trust Division raised its position in shares of DoorDash by 1.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 6,966 shares of the company’s stock valued at $1,169,000 after purchasing an additional 91 shares during the last quarter. Finally, Ballentine Partners LLC boosted its stake in DoorDash by 3.9% in the 4th quarter. Ballentine Partners LLC now owns 2,962 shares of the company’s stock worth $497,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.