DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Truist Financial Analyst Says

DoorDash (NASDAQ:DASH) had its price objective increased by equities research analysts at Truist Financial from $170.00 to $180.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 15.64% from the stock’s previous close.

Several other research analysts have also recently weighed in on DASH. Redburn Atlantic started coverage on shares of DoorDash in a report on Friday, July 26th. They issued a “buy” rating and a $170.00 price target for the company. Wells Fargo & Company upped their price target on shares of DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, October 4th. Oppenheimer upped their price target on shares of DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Wolfe Research started coverage on shares of DoorDash in a report on Tuesday, July 16th. They issued an “outperform” rating and a $130.00 price target for the company. Finally, Argus started coverage on shares of DoorDash in a report on Tuesday, July 23rd. They issued a “hold” rating for the company. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.12.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $155.66 on Thursday. The stock has a market cap of $64.06 billion, a P/E ratio of -345.91, a P/E/G ratio of 331.02 and a beta of 1.70. The firm has a 50 day moving average price of $140.40 and a 200 day moving average price of $124.21. DoorDash has a 52-week low of $83.58 and a 52-week high of $165.07.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data 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. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.46%. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.19) earnings per share. Analysts predict that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In related 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 value of $6,685,709.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Shona L. Brown sold 5,005 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $120.00, for a total value of $600,600.00. Following the transaction, the director now directly owns 65,186 shares in the company, valued at approximately $7,822,320. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Insiders have sold 383,710 shares of company stock valued at $53,725,640 over the last ninety days. 7.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoorDash

A number of large investors have recently bought and sold shares of DASH. Wealth Enhancement Advisory Services LLC grew its stake in DoorDash by 26.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,802 shares of the company’s stock worth $1,488,000 after buying an additional 2,237 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in DoorDash by 38.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 271,024 shares of the company’s stock worth $37,325,000 after buying an additional 75,272 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in DoorDash by 7.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 689,785 shares of the company’s stock worth $94,997,000 after buying an additional 47,725 shares in the last quarter. Norden Group LLC acquired a new stake in DoorDash during the first quarter worth about $1,135,000. Finally, First Trust Direct Indexing L.P. grew its stake in DoorDash by 10.1% during the first quarter. First Trust Direct Indexing L.P. now owns 4,780 shares of the company’s stock worth $658,000 after buying an additional 437 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.