Bank of America Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price target increased by Bank of America from $168.00 to $172.00 in a report issued on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently issued reports on DASH. Wells Fargo & Company lifted their price objective on DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, October 4th. Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a research note on Friday, August 2nd. KeyCorp raised DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 price objective for the company in a research report on Wednesday, September 25th. Barclays increased their price target on shares of DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, UBS Group upped their price objective on shares of DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $161.94.

DoorDash Stock Performance

DoorDash stock traded up $0.06 during trading on Thursday, reaching $156.76. 1,495,366 shares of the company’s stock were exchanged, compared to its average volume of 3,832,189. The company’s 50-day moving average is $139.86 and its two-hundred day moving average is $124.05. DoorDash has a 52-week low of $83.58 and a 52-week high of $165.07. The firm has a market cap of $64.51 billion, a price-to-earnings ratio of -348.42, a PEG ratio of 331.02 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.46% and a negative net margin of 1.69%. DoorDash’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.19) EPS. Analysts anticipate that DoorDash will post 0.01 EPS for the current year.

Insider Buying and Selling at DoorDash

In related news, Director Shona L. Brown sold 5,005 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $120.00, for a total transaction of $600,600.00. Following the sale, the director now owns 65,186 shares of the company’s stock, valued at approximately $7,822,320. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Shona L. Brown sold 5,005 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $120.00, for a total value of $600,600.00. Following the sale, the director now owns 65,186 shares of the company’s stock, valued at $7,822,320. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total transaction of $6,685,709.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 383,710 shares of company stock worth $53,725,640. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP grew its holdings in shares of DoorDash by 930.5% during the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock worth $73,534,000 after purchasing an additional 610,388 shares during the last quarter. Forsta AP Fonden raised its holdings in shares of DoorDash by 18.6% in the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after acquiring an additional 10,100 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of DoorDash during the first quarter valued at approximately $2,969,000. CWM LLC boosted its holdings in DoorDash by 97.1% during the third quarter. CWM LLC now owns 10,705 shares of the company’s stock worth $1,528,000 after purchasing an additional 5,273 shares during the last quarter. Finally, Paragon Capital Management Inc. purchased a new stake in shares of DoorDash during the second quarter valued at approximately $1,309,000. 90.64% of the stock is owned by institutional investors and hedge funds.

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.