DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

DoorDash (NASDAQ:DASH) had its target price increased by equities research analysts at The Goldman Sachs Group from $161.00 to $192.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 10.04% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Evercore ISI raised their price objective on shares of DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. BMO Capital Markets raised their price target on shares of DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Morgan Stanley boosted their price objective on shares of DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Truist Financial increased their price objective on DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Finally, Jefferies Financial Group lifted their target price on DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $175.97.

DoorDash Stock Performance

Shares of DASH opened at $174.48 on Thursday. DoorDash has a 52 week low of $99.32 and a 52 week high of $181.78. The stock has a market capitalization of $72.48 billion, a price-to-earnings ratio of -387.73, a PEG ratio of 1.77 and a beta of 1.71. The stock has a fifty day moving average of $173.54 and a 200-day moving average of $145.27.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the company earned ($0.19) earnings per share. The business’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, equities analysts forecast that DoorDash will post 0.26 EPS for the current year.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 108,332 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total value of $18,454,356.20. Following the completion of the sale, the chief executive officer now owns 1,500 shares in the company, valued at $255,525. This represents a 98.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the transaction, the director now directly owns 16,176 shares in the company, valued at $2,722,744.32. The trade was a 75.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,019,333 shares of company stock worth $177,556,541. Insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its stake in shares of DoorDash by 34.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after buying an additional 69 shares during the last quarter. Brighton Jones LLC lifted its holdings in DoorDash by 0.8% during the second quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock worth $1,122,000 after acquiring an additional 82 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in DoorDash by 0.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock worth $1,970,000 after purchasing an additional 84 shares during the last quarter. Pallas Capital Advisors LLC grew its stake in DoorDash by 3.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock valued at $414,000 after purchasing an additional 88 shares during the period. Finally, Central Pacific Bank Trust Division increased its position in shares of DoorDash by 1.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 6,966 shares of the company’s stock valued at $1,169,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.