DoorDash (NASDAQ:DASH) Reaches New 12-Month High Following Analyst Upgrade

DoorDash, Inc. (NASDAQ:DASHGet Free Report) shares hit a new 52-week high during trading on Tuesday after Loop Capital raised their price target on the stock from $170.00 to $200.00. Loop Capital currently has a buy rating on the stock. DoorDash traded as high as $176.27 and last traded at $175.85, with a volume of 205680 shares traded. The stock had previously closed at $174.95.

Several other research analysts also recently issued reports on the stock. Argus assumed coverage on shares of DoorDash in a research report on Tuesday, July 23rd. They set a “hold” rating on the stock. Needham & Company LLC upped their target price on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Evercore ISI raised their price target on shares of DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of DoorDash in a research report on Friday, August 2nd. Finally, BTIG Research upgraded DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research report on Thursday, September 19th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.03.

Get Our Latest Stock Report on DoorDash

Insider Buying and Selling at DoorDash

In other news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the sale, the chief financial officer now owns 396,152 shares of the company’s stock, valued at $50,651,994.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the sale, the director now owns 18,089 shares in the company, valued at approximately $2,355,187.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the transaction, the chief financial officer now directly owns 396,152 shares of the company’s stock, valued at approximately $50,651,994.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 324,539 shares of company stock valued at $46,439,330. 7.92% of the stock is currently owned by corporate insiders.

Institutional Trading of DoorDash

A number of hedge funds have recently made changes to their positions in the business. Rakuten Securities Inc. lifted its stake in shares of DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after buying an additional 130 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 132 shares during the period. Headlands Technologies LLC acquired a new position in shares of DoorDash in the second quarter valued at approximately $32,000. Versant Capital Management Inc increased its stake in shares of DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 259 shares during the period. Finally, Quest Partners LLC lifted its holdings in DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 204 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Stock Performance

The stock has a market capitalization of $73.01 billion, a price-to-earnings ratio of -390.58, a price-to-earnings-growth ratio of 14.85 and a beta of 1.67. The business has a fifty day simple moving average of $147.14 and a 200 day simple moving average of $126.41.

DoorDash (NASDAQ:DASHGet Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate 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 2.41% and a negative net margin of 1.69%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.19) EPS. On average, sell-side analysts forecast that DoorDash, Inc. will post 0.24 earnings per share for the current fiscal year.

DoorDash Company Profile

(Get Free Report)

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.

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