DoorDash (NASDAQ:DASH) Hits New 12-Month High – Still a Buy?

DoorDash, Inc. (NASDAQ:DASH)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $185.38 and last traded at $184.51, with a volume of 2637573 shares changing hands. The stock had previously closed at $182.48.

Analysts Set New Price Targets

DASH has been the subject of a number of research analyst reports. Bank of America lifted their price objective on shares of DoorDash from $172.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Evercore ISI upped their price objective on DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their price objective on DoorDash from $150.00 to $166.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Jefferies Financial Group boosted their target price on DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Barclays increased their price target 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. Nine analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $178.18.

DoorDash Stock Performance

The stock has a 50-day moving average of $175.06 and a two-hundred day moving average of $150.38. The company has a market cap of $78.33 billion, a P/E ratio of -419.04, a price-to-earnings-growth ratio of 1.85 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The firm 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 quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.19) earnings per share. Research analysts predict that DoorDash, Inc. will post 0.29 EPS for the current year.

Insider Activity at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $183.20, for a total transaction of $261,060.00. Following the sale, the chief financial officer now directly owns 366,993 shares in the company, valued at approximately $67,233,117.60. This trade represents a 0.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $168.32, for a total value of $8,416,000.00. Following the completion of the transaction, the director now owns 16,176 shares of the company’s stock, valued at $2,722,744.32. This represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,040,758 shares of company stock valued at $181,434,201. 7.92% of the stock is owned by insiders.

Institutional Trading of DoorDash

A number of institutional investors have recently made changes to their positions in the stock. Rakuten Securities Inc. lifted its position in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares during the period. Princeton Global Asset Management LLC purchased a new stake in DoorDash during the 4th quarter valued at $34,000. ORG Wealth Partners LLC bought a new position in shares of DoorDash during the 4th quarter valued at $36,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 during the period. Finally, Hollencrest Capital Management purchased a new position in shares of DoorDash in the 3rd quarter worth $54,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.