DoorDash (NASDAQ:DASH) Reaches New 12-Month High After Analyst Upgrade

DoorDash, Inc. (NASDAQ:DASH) reached a new 52-week high during trading on Tuesday after Truist Financial raised their price target on the stock from $180.00 to $217.00. Truist Financial currently has a buy rating on the stock. DoorDash traded as high as $181.78 and last traded at $181.25, with a volume of 938393 shares trading hands. The stock had previously closed at $179.50.

A number of other equities research analysts have also recently commented on DASH. KeyCorp increased their target price on shares of DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. JMP Securities boosted their target price on DoorDash from $160.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Benchmark increased their price target on DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Citigroup lifted their price objective on DoorDash from $155.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $168.39.

Insider Transactions at DoorDash

In other news, Director Andy Fang sold 50,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $143.76, for a total value of $7,188,000.00. Following the sale, the director now directly owns 18,089 shares in the company, valued at approximately $2,600,474.64. This trade represents a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Keith Yandell sold 7,980 shares of DoorDash stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $1,356,440.40. Following the completion of the transaction, the insider now owns 124,221 shares of the company’s stock, valued at approximately $21,115,085.58. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 951,528 shares of company stock valued at $159,212,079. 7.92% of the stock is currently owned by corporate insiders.

Institutional Trading of DoorDash

Hedge funds have recently added to or reduced their stakes in the company. Rakuten Securities Inc. grew its holdings in DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of DoorDash by 82.0% during the 2nd 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 last quarter. Headlands Technologies LLC acquired a new position in shares of DoorDash during the second quarter worth $32,000. Quest Partners LLC increased its holdings in DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in DoorDash by 141.1% in the second quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock valued at $38,000 after buying an additional 206 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Trading Down 6.6 %

The stock has a fifty day simple moving average of $166.69 and a 200-day simple moving average of $136.89. The company has a market capitalization of $68.70 billion, a PE ratio of -367.53, a P/E/G ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company posted ($0.19) earnings per share. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, equities research analysts predict that DoorDash, Inc. will post 0.26 EPS for the current year.

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.