UBS Group Raises DoorDash (NASDAQ:DASH) Price Target to $160.00

DoorDash (NASDAQ:DASH) had its price objective increased by UBS Group from $143.00 to $160.00 in a research report sent to investors on Friday morning, Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other brokerages have also recently commented on DASH. Raymond James began coverage on shares of DoorDash in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price target on the stock. Truist Financial boosted their price target on shares of DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Redburn Atlantic assumed coverage on shares of DoorDash in a report on Friday, July 26th. They issued a “buy” rating and a $170.00 target price on the stock. Oppenheimer boosted their target price on shares of DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Finally, Piper Sandler restated a “neutral” rating and issued a $125.00 target price (up from $115.00) on shares of DoorDash in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.16.

DoorDash Stock Up 0.6 %

Shares of DASH opened at $152.89 on Friday. The company has a market capitalization of $62.52 billion, a P/E ratio of -141.56, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70. The firm has a 50 day moving average of $135.26 and a 200 day moving average of $122.85. DoorDash has a twelve month low of $69.90 and a twelve month high of $152.89.

DoorDash (NASDAQ:DASH) last posted 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). The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the firm posted ($0.44) EPS. On average, sell-side analysts expect that DoorDash will post 0.01 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total transaction of $746,480.00. Following the completion of the transaction, the chief financial officer now directly owns 417,223 shares in the company, valued at $44,492,660.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Tony Xu sold 81,249 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $106.64, for a total value of $746,480.00. Following the transaction, the chief financial officer now directly owns 417,223 shares of the company’s stock, valued at approximately $44,492,660.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 390,710 shares of company stock valued at $54,472,120 over the last 90 days. 7.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ORG Partners LLC increased its stake in shares of DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 253 shares in the last quarter. Headlands Technologies LLC acquired a new stake in DoorDash in the second quarter worth about $32,000. Meeder Asset Management Inc. increased its position in DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares during the period. Hollencrest Capital Management acquired a new stake in DoorDash in the first quarter worth about $42,000. Finally, Versant Capital Management Inc increased its position in DoorDash by 340.8% in 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. 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.