DoorDash (NASDAQ:DASH) Price Target Increased to $170.00 by Analysts at Truist Financial

DoorDash (NASDAQ:DASH) had its price target upped by analysts at Truist Financial from $150.00 to $170.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 12.64% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Benchmark boosted their target price on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Evercore ISI increased their price objective on DoorDash from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of DoorDash in a research report on Monday, October 7th. UBS Group increased their price target on shares of DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Needham & Company LLC boosted their price objective on shares of DoorDash from $137.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $150.34.

DoorDash Price Performance

NASDAQ:DASH opened at $150.92 on Tuesday. The firm has a market cap of $61.71 billion, a price-to-earnings ratio of -141.24, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70. DoorDash has a 1-year low of $69.90 and a 1-year high of $154.16. The firm’s fifty day moving average price is $136.33 and its 200 day moving average price is $123.07.

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

Insider Buying and Selling at DoorDash

In other news, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 417,223 shares in the company, valued at $44,492,660.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total transaction of $6,685,709.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total transaction of $746,480.00. Following the transaction, the chief financial officer now owns 417,223 shares in the company, 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. In the last three months, insiders sold 390,710 shares of company stock worth $54,472,120. Insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC grew its stake in shares of DoorDash by 0.8% during the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock valued at $1,122,000 after buying an additional 82 shares during the period. Everhart Financial Group Inc. grew its position in DoorDash by 3.1% during the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after acquiring an additional 99 shares during the period. E Fund Management Co. Ltd. increased its stake in DoorDash by 3.5% during the second quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock worth $355,000 after acquiring an additional 111 shares during the last quarter. SJS Investment Consulting Inc. increased its stake in DoorDash by 21.0% during the second quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock worth $73,000 after acquiring an additional 117 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its holdings in shares of DoorDash by 4.4% in the 1st quarter. Meeder Advisory Services Inc. now owns 3,006 shares of the company’s stock worth $414,000 after purchasing an additional 126 shares during the period. Institutional investors and hedge funds 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.