Piper Sandler Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its target price upped by Piper Sandler from $125.00 to $160.00 in a report issued on Thursday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

DASH has been the topic of a number of other research reports. Benchmark increased their target price on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. BTIG Research upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Thursday, September 19th. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price on the stock in a research report on Wednesday, September 25th. Needham & Company LLC upped their price target on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Jefferies Financial Group boosted their target price on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average target price of $160.73.

DoorDash Stock Down 0.2 %

Shares of DASH stock traded down $0.27 during trading on Thursday, reaching $156.43. The company’s stock had a trading volume of 1,042,214 shares, compared to its average volume of 3,829,445. The business has a fifty day moving average price of $139.86 and a 200-day moving average price of $124.05. DoorDash has a one year low of $83.58 and a one year high of $165.07. The company has a market cap of $64.38 billion, a price-to-earnings ratio of -341.93, a price-to-earnings-growth ratio of 331.02 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data 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 2.46% and a negative net margin of 1.69%. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the firm posted ($0.19) EPS. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. Research analysts anticipate that DoorDash will post 0.01 EPS for the current year.

Insider Buying and Selling

In other 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 transaction of $12,014,289.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the sale, the chief financial officer now owns 396,152 shares of the company’s stock, valued at $50,651,994.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tony Xu sold 81,249 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 383,710 shares of company stock worth $53,725,640. 7.92% of the stock is owned by insiders.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP raised its stake in DoorDash by 930.5% in the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after purchasing an additional 610,388 shares in the last quarter. Forsta AP Fonden grew its stake in shares of DoorDash by 18.6% during the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after buying an additional 10,100 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in DoorDash in the 1st quarter worth approximately $2,969,000. CWM LLC grew its holdings in DoorDash by 97.1% in the 3rd quarter. CWM LLC now owns 10,705 shares of the company’s stock worth $1,528,000 after acquiring an additional 5,273 shares during the last quarter. Finally, Paragon Capital Management Inc. purchased a new position in DoorDash during the 2nd quarter valued at about $1,309,000. 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.