Brokerages Set DoorDash, Inc. (NASDAQ:DASH) Price Target at $168.39

Shares of DoorDash, Inc. (NASDAQ:DASH) have received a consensus rating of “Moderate Buy” from the thirty-four brokerages that are currently covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation and twenty-five have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $168.39.

Several equities research analysts have recently weighed in on the stock. Oppenheimer increased their price objective on shares of DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. BMO Capital Markets increased their price target on DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC boosted their price objective on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JMP Securities raised their target price on DoorDash from $160.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Finally, Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price for the company in a report on Wednesday, September 25th.

DoorDash Trading Down 0.7 %

NASDAQ DASH opened at $170.57 on Tuesday. The firm has a market capitalization of $70.85 billion, a PE ratio of -379.04, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70. The business’s 50-day moving average price is $169.26 and its two-hundred day moving average price is $139.15. DoorDash has a 12 month low of $93.33 and a 12 month high of $181.78.

DoorDash (NASDAQ:DASH) last announced 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 business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the business posted ($0.19) earnings per share. The firm’s revenue was up 25.0% on a year-over-year basis. As a group, analysts forecast that DoorDash will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 108,334 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $180.07, for a total transaction of $19,507,703.38. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $270,105. This trade represents a 98.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $143.76, for a total transaction of $7,188,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at $2,600,474.64. This trade represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 897,362 shares of company stock valued at $151,625,589 in the last 90 days. 7.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DASH. Principal Financial Group Inc. lifted its position in shares of DoorDash by 25.0% during the 3rd quarter. Principal Financial Group Inc. now owns 90,786 shares of the company’s stock valued at $12,958,000 after buying an additional 18,155 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in DoorDash by 1.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 750,119 shares of the company’s stock worth $107,064,000 after acquiring an additional 8,195 shares during the last quarter. Franklin Resources Inc. raised its stake in DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after acquiring an additional 501,905 shares during the period. Tri Ri Asset Management Corp purchased a new stake in DoorDash during the third quarter valued at about $6,250,000. Finally, Tidal Investments LLC boosted its position in DoorDash by 19.9% during the third quarter. Tidal Investments LLC now owns 12,321 shares of the company’s stock worth $1,759,000 after purchasing an additional 2,049 shares during the period. 90.64% of the stock is 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.