DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Wolfe Research Analyst Says

DoorDash (NASDAQ:DASH) had its target price lifted by equities researchers at Wolfe Research from $210.00 to $220.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wolfe Research’s target price indicates a potential upside of 26.90% from the company’s previous close.

A number of other research firms have also weighed in on DASH. The Goldman Sachs Group upped their target price on shares of DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Oppenheimer upped their target price on DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. JMP Securities reiterated a “market outperform” rating and set a $200.00 price target on shares of DoorDash in a research report on Thursday. Benchmark upped their price objective on shares of DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Susquehanna lifted their target price on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $171.42.

DoorDash Stock Performance

DoorDash stock traded up $2.72 during mid-day trading on Friday, reaching $173.37. The company’s stock had a trading volume of 229,337 shares, compared to its average volume of 1,208,743. DoorDash has a 12-month low of $93.33 and a 12-month high of $181.78. The firm’s fifty day moving average price is $170.94 and its two-hundred day moving average price is $141.09. The company has a market capitalization of $72.02 billion, a P/E ratio of -385.27, a PEG ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion for 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 firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.19) EPS. On average, research analysts predict that DoorDash will post 0.26 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 115,432 shares of DoorDash stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total value of $20,432,618.32. Following the completion of the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $265,515. The trade was a 98.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $143.76, for a total value of $7,188,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $2,600,474.64. This represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 924,362 shares of company stock valued at $156,181,429 over the last ninety days. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DASH. Asset Management One Co. Ltd. lifted its position in shares of DoorDash by 10.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock valued at $16,012,000 after buying an additional 10,755 shares in the last quarter. Marshall Wace LLP raised its stake in DoorDash by 930.5% during the 2nd quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock worth $73,534,000 after acquiring an additional 610,388 shares during the period. Forsta AP Fonden lifted its holdings in DoorDash by 18.6% during the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after purchasing an additional 10,100 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of DoorDash by 48.8% in the third quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock worth $1,522,000 after purchasing an additional 3,498 shares during the period. Finally, Baillie Gifford & Co. increased its stake in shares of DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

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.