DoorDash (NASDAQ:DASH) Given New $160.00 Price Target at Oppenheimer

DoorDash (NASDAQ:DASH) had its target price lifted by equities research analysts at Oppenheimer from $145.00 to $160.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective suggests a potential upside of 12.49% from the company’s previous close.

Several other brokerages have also weighed in on DASH. Wolfe Research initiated coverage on DoorDash in a research report on Tuesday, July 16th. They set an “outperform” rating and a $130.00 target price on the stock. Piper Sandler restated a “neutral” rating and set a $125.00 price objective (up previously from $115.00) on shares of DoorDash in a research report on Friday, August 2nd. KeyCorp raised shares of DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 target price on the stock in a research report on Wednesday. Needham & Company LLC boosted their price target on shares of DoorDash from $137.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Barclays lifted their target price on DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $145.97.

DoorDash Stock Down 0.6 %

Shares of DoorDash stock opened at $142.23 on Friday. DoorDash has a 52-week low of $69.90 and a 52-week high of $146.36. The company has a 50 day moving average of $125.10 and a 200 day moving average of $121.89. The company has a market capitalization of $58.53 billion, a P/E ratio of -131.69, a P/E/G ratio of 295.70 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last issued its earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm posted ($0.44) EPS. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, research analysts anticipate that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Prabir Adarkar sold 8,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.61, for a total transaction of $860,880.00. Following the sale, the chief operating officer now owns 1,002,787 shares of the company’s stock, valued at $107,909,909.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Prabir Adarkar sold 8,000 shares of DoorDash stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.61, for a total transaction of $860,880.00. Following the completion of the sale, the chief operating officer now directly owns 1,002,787 shares in the company, valued at approximately $107,909,909.07. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $107.75, for a total value of $5,836,386.50. The disclosure for this sale can be found here. Insiders sold 350,223 shares of company stock worth $41,391,523 in the last 90 days. 7.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DASH. Wells Fargo & Company MN increased its holdings in DoorDash by 102.5% during the 4th quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock valued at $19,694,000 after acquiring an additional 100,787 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of DoorDash by 4.2% during the 4th quarter. Corient Private Wealth LLC now owns 8,015 shares of the company’s stock worth $793,000 after purchasing an additional 320 shares in the last quarter. US Bancorp DE raised its position in shares of DoorDash by 9.1% during the 4th quarter. US Bancorp DE now owns 6,874 shares of the company’s stock worth $680,000 after purchasing an additional 573 shares during the last quarter. Commerce Bank lifted its stake in DoorDash by 3.4% in the 4th quarter. Commerce Bank now owns 5,073 shares of the company’s stock valued at $502,000 after buying an additional 166 shares in the last quarter. Finally, Orion Portfolio Solutions LLC purchased a new stake in DoorDash in the 4th quarter valued at approximately $466,000. Institutional investors and hedge funds 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.