DoorDash (NASDAQ:DASH) Price Target Increased to $160.00 by Analysts at JMP Securities

DoorDash (NASDAQ:DASH) had its target price raised by JMP Securities from $130.00 to $160.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a market outperform rating on the stock.

A number of other brokerages have also issued reports on DASH. Needham & Company LLC restated a buy rating and issued a $133.00 target price on shares of DoorDash in a research note on Tuesday, February 6th. The Goldman Sachs Group raised their target price on DoorDash from $109.00 to $122.00 and gave the stock a neutral rating in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft raised their target price on DoorDash from $125.00 to $140.00 in a research note on Thursday, February 15th. Oppenheimer lifted their price objective on DoorDash from $110.00 to $140.00 and gave the company an outperform rating in a research note on Friday, February 16th. Finally, Wells Fargo & Company reduced their price objective on DoorDash from $105.00 to $100.00 and set an equal weight rating for the company in a research note on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, DoorDash has a consensus rating of Moderate Buy and an average price target of $123.82.

DoorDash Price Performance

Shares of DASH stock opened at $138.88 on Wednesday. The firm has a market capitalization of $56.11 billion, a price-to-earnings ratio of -97.12, a price-to-earnings-growth ratio of 16.15 and a beta of 1.78. The business has a fifty day moving average of $121.26 and a 200 day moving average of $100.22. DoorDash has a 1 year low of $56.59 and a 1 year high of $143.34.

DoorDash (NASDAQ:DASH) last issued its earnings results on Thursday, February 15th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.24). The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. The business’s revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.63) EPS. As a group, equities research analysts expect that DoorDash will post 0.2 earnings per share for the current year.

Insider Activity at DoorDash

In related news, Director Shona L. Brown sold 700 shares of DoorDash stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $93.54, for a total value of $65,478.00. Following the sale, the director now directly owns 72,214 shares in the company, valued at approximately $6,754,897.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Shona L. Brown sold 703 shares of DoorDash stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $133.09, for a total value of $93,562.27. Following the sale, the director now directly owns 70,811 shares in the company, valued at approximately $9,424,235.99. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Shona L. Brown sold 700 shares of DoorDash stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $93.54, for a total value of $65,478.00. Following the completion of the sale, the director now owns 72,214 shares in the company, valued at $6,754,897.56. The disclosure for this sale can be found here. Insiders sold a total of 519,087 shares of company stock worth $58,139,690 in the last 90 days. Corporate insiders own 9.59% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several institutional investors have recently bought and sold shares of DASH. Raymond James & Associates boosted its holdings in shares of DoorDash by 123.4% during the 1st quarter. Raymond James & Associates now owns 6,286 shares of the company’s stock worth $737,000 after purchasing an additional 3,472 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of DoorDash by 43.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,825 shares of the company’s stock worth $448,000 after purchasing an additional 1,153 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of DoorDash by 18.3% during the 1st quarter. American Century Companies Inc. now owns 4,444 shares of the company’s stock worth $521,000 after purchasing an additional 689 shares during the last quarter. US Bancorp DE boosted its holdings in shares of DoorDash by 204.6% during the 1st quarter. US Bancorp DE now owns 926 shares of the company’s stock worth $109,000 after purchasing an additional 622 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of DoorDash by 305.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,553 shares of the company’s stock worth $415,000 after purchasing an additional 2,677 shares during 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.