DoorDash (NASDAQ:DASH) Reaches New 12-Month High – Should You Buy?

DoorDash, Inc. (NASDAQ:DASH) shares hit a new 52-week high on Tuesday . The stock traded as high as $176.27 and last traded at $175.85, with a volume of 205680 shares traded. The stock had previously closed at $174.95.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DASH. Wells Fargo & Company increased their target price on shares of DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, October 4th. Barclays increased their price objective on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. UBS Group increased their price objective on shares of DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Raymond James assumed coverage on shares of DoorDash in a report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price objective on the stock. Finally, BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Thursday, September 19th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.12.

DoorDash Stock Performance

The firm has a market cap of $73.11 billion, a price-to-earnings ratio of -390.38, a price-to-earnings-growth ratio of 14.42 and a beta of 1.67. The firm’s 50 day moving average is $145.10 and its 200-day moving average is $125.75.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share 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 business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the business earned ($0.19) EPS. The firm’s revenue was up 25.0% compared to the same quarter last year. As a group, research analysts predict that DoorDash, Inc. will post 0.24 EPS for the current year.

Insider Transactions at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now owns 18,089 shares in the company, valued at $2,355,187.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO Prabir Adarkar sold 32,124 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the completion of the sale, the chief operating officer now directly owns 963,094 shares of the company’s stock, valued at $142,528,281.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the sale, the director now directly owns 18,089 shares of the company’s stock, valued at $2,355,187.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 324,539 shares of company stock valued at $46,439,330. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Large investors have recently bought and sold shares of the company. Rakuten Securities Inc. boosted its holdings in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the last quarter. Headlands Technologies LLC bought a new position in DoorDash during the second quarter worth about $32,000. Meeder Asset Management Inc. increased its holdings in DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares during the period. Versant Capital Management Inc boosted its stake in shares of DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 259 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in shares of DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 204 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

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.