Barclays Boosts DoorDash (NASDAQ:DASH) Price Target to $163.00

DoorDash (NASDAQ:DASH) had its price objective upped by equities research analysts at Barclays from $120.00 to $163.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 4.72% from the company’s current price.

DASH has been the topic of several other research reports. DA Davidson boosted their price target on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday. Evercore ISI upped their target price on shares of DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday. Truist Financial increased their price target on shares of DoorDash from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday. Raymond James began coverage on DoorDash in a report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price objective on the stock. Finally, Roth Mkm increased their target price on DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.12.

DoorDash Stock Performance

NASDAQ DASH opened at $155.66 on Friday. DoorDash has a twelve month low of $83.58 and a twelve month high of $165.07. The stock has a market cap of $64.06 billion, a PE ratio of -345.91, a PEG ratio of 331.02 and a beta of 1.67. The firm has a 50-day simple moving average of $140.40 and a 200 day simple moving average of $124.21.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping 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 return on equity of 2.46% 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 quarter last year, the company earned ($0.19) EPS. Research analysts forecast that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 81,249 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the sale, the director now directly owns 18,089 shares in the company, valued at approximately $2,710,274.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Tony Xu sold 81,249 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total transaction of $12,014,289.63. The disclosure for this sale can be found here. Over the last quarter, insiders sold 383,710 shares of company stock worth $53,725,640. 7.92% of the stock is owned by insiders.

Institutional Investors Weigh In On DoorDash

Several institutional investors have recently added to or reduced their stakes in DASH. Transcendent Capital Group LLC acquired a new stake in shares of DoorDash in the 3rd quarter valued at about $1,781,000. Long Walk Management LP bought a new stake in DoorDash during the third quarter worth about $16,271,000. Covestor Ltd boosted its holdings in shares of DoorDash by 32.0% in the 3rd quarter. Covestor Ltd now owns 1,878 shares of the company’s stock valued at $268,000 after buying an additional 455 shares during the last quarter. Assetmark Inc. grew its stake in shares of DoorDash by 17.4% in the third quarter. Assetmark Inc. now owns 3,519 shares of the company’s stock valued at $502,000 after buying an additional 522 shares in the last quarter. Finally, Hollencrest Capital Management acquired a new position in DoorDash during the third quarter worth $54,000. 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.