Wolfe Research Boosts DoorDash (NASDAQ:DASH) Price Target to $220.00

DoorDash (NASDAQ:DASH) had its price objective increased by Wolfe Research from $210.00 to $220.00 in a report released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also weighed in on DASH. BMO Capital Markets lifted their target price on shares of DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Evercore ISI lifted their price objective on shares of DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Argus upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Oppenheimer lifted their price target on DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Finally, Needham & Company LLC raised their price objective on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.42.

DoorDash Price Performance

NASDAQ:DASH opened at $174.96 on Friday. The firm has a market capitalization of $72.68 billion, a P/E ratio of -388.80, a PEG ratio of 13.56 and a beta of 1.70. The company’s fifty day moving average price is $171.36 and its 200-day moving average price is $141.93. DoorDash has a 1-year low of $93.33 and a 1-year high of $181.78.

DoorDash (NASDAQ:DASH) last released 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 during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the business posted ($0.19) EPS. The company’s revenue was up 25.0% on a year-over-year basis. Equities analysts anticipate that DoorDash will post 0.26 EPS for the current fiscal year.

Insider Transactions at DoorDash

In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 18,089 shares in the company, valued at $2,600,474.64. This represents a 73.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stanley Tang sold 1,855 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 transaction of $315,312.90. Following the completion of the transaction, the director now owns 35,413 shares in the company, valued at approximately $6,019,501.74. This trade represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,082,694 shares of company stock worth $183,152,786. Company insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its position in DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares during the period. State Street Corp boosted its stake in shares of DoorDash by 3.8% in the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after buying an additional 272,659 shares in the last quarter. Janus Henderson Group PLC grew its holdings in DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after acquiring an additional 700,465 shares during the period. Geode Capital Management LLC raised its position in DoorDash by 6.4% in the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after acquiring an additional 267,855 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in DoorDash by 15.2% in the third 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. 90.64% of the stock is owned by hedge funds and other 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.