DoorDash (NASDAQ:DASH) Price Target Raised to $211.00

DoorDash (NASDAQ:DASH) had its target price boosted by investment analysts at Citigroup from $155.00 to $211.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 18.09% from the company’s previous close.

A number of other equities analysts have also 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. Mizuho increased their price objective on shares of DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. 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 report on Friday, November 1st. Loop Capital increased their price objective on shares of DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of DoorDash in a research report on Monday, October 7th. Ten investment 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, the company has an average rating of “Moderate Buy” and a consensus price target of $166.06.

DoorDash Price Performance

NASDAQ DASH traded down $0.33 during trading hours on Wednesday, hitting $178.68. 255,003 shares of the company’s stock traded hands, compared to its average volume of 3,786,173. The firm’s 50-day moving average is $154.57 and its 200-day moving average is $129.52. DoorDash has a 52-week low of $92.58 and a 52-week high of $181.30. The company has a market capitalization of $74.22 billion, a PE ratio of -399.24, a PEG ratio of 13.77 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the company posted ($0.19) EPS. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. Equities research analysts predict that DoorDash will post 0.26 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, insider Keith Yandell sold 7,980 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 value of $1,356,440.40. Following the transaction, the insider now directly owns 124,221 shares in the company, valued at approximately $21,115,085.58. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction 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 transaction, the director now owns 18,089 shares in the company, valued at approximately $2,355,187.80. This represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 553,262 shares of company stock valued at $85,515,902 over the last ninety days. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DASH. 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 buying an additional 130 shares in the last quarter. Headlands Technologies LLC purchased a new stake in DoorDash during the second quarter worth about $32,000. Meeder Asset Management Inc. boosted its holdings in DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of DoorDash by 340.8% in the second 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 lifted its holdings in shares of DoorDash by 146.8% in the second 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. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.