DoorDash (NASDAQ:DASH) Price Target Raised to $144.00

DoorDash (NASDAQ:DASH) had its price objective boosted by Citigroup from $141.00 to $144.00 in a report released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also commented on DASH. UBS Group dropped their price objective on DoorDash from $123.00 to $118.00 and set a neutral rating on the stock in a report on Friday, February 16th. Oppenheimer upped their price objective on shares of DoorDash from $140.00 to $150.00 and gave the stock an outperform rating in a research report on Monday. Loop Capital initiated coverage on shares of DoorDash in a report on Friday, April 19th. They set a buy rating and a $170.00 price objective on the stock. Morgan Stanley raised shares of DoorDash from an equal weight rating to an overweight rating and boosted their target price for the stock from $135.00 to $145.00 in a research note on Thursday, February 22nd. Finally, Roth Mkm decreased their price target on shares of DoorDash from $121.00 to $118.00 and set a neutral rating on the stock in a research note on Thursday. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, DoorDash has an average rating of Moderate Buy and a consensus price target of $129.96.

DoorDash Stock Performance

Shares of DASH traded down $0.50 during trading hours on Thursday, hitting $113.81. The stock had a trading volume of 5,895,826 shares, compared to its average volume of 3,905,451. The firm has a 50-day moving average price of $132.02 and a 200 day moving average price of $109.87. DoorDash has a fifty-two week low of $60.36 and a fifty-two week high of $143.34. The firm has a market capitalization of $45.98 billion, a price-to-earnings ratio of -105.84, a PEG ratio of 14.18 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.38%. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. The company’s revenue was up 23.5% compared to the same quarter last year. As a group, analysts predict that DoorDash will post 0.21 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, insider Keith Yandell sold 3,500 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $124.50, for a total value of $435,750.00. Following the sale, the insider now directly owns 161,102 shares in the company, valued at approximately $20,057,199. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Shona L. Brown sold 700 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $141.60, for a total transaction of $99,120.00. Following the completion of the transaction, the director now directly owns 70,111 shares in the company, valued at $9,927,717.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Keith Yandell sold 3,500 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $124.50, for a total value of $435,750.00. Following the completion of the sale, the insider now owns 161,102 shares in the company, valued at approximately $20,057,199. The disclosure for this sale can be found here. Over the last three months, insiders have sold 487,782 shares of company stock worth $64,046,807. Insiders own 9.59% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Spire Wealth Management acquired a new stake in shares of DoorDash during the first quarter worth about $25,000. Fifth Third Bancorp increased its stake in DoorDash by 448.8% during the 3rd quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock worth $35,000 after buying an additional 359 shares during the period. Venturi Wealth Management LLC increased its stake in DoorDash by 54.5% during the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after buying an additional 90 shares during the period. Parkside Financial Bank & Trust lifted its holdings in DoorDash by 361.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock worth $39,000 after buying an additional 307 shares in the last quarter. Finally, Covestor Ltd boosted its position in DoorDash by 101.2% in the 3rd quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $40,000 after buying an additional 253 shares during the period. 90.64% of the stock is currently 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.