Evercore ISI Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its target price lifted by analysts at Evercore ISI from $155.00 to $200.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price target would indicate a potential upside of 28.49% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Piper Sandler lifted their price target on DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday. DA Davidson lifted their price target on DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday. Wolfe Research assumed coverage on DoorDash in a report on Tuesday, July 16th. They issued an “outperform” rating and a $130.00 price objective for the company. Roth Mkm lifted their price objective on DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Finally, Raymond James assumed coverage on DoorDash in a report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.12.

DoorDash Stock Down 0.7 %

Shares of DASH stock opened at $155.66 on Thursday. The stock has a fifty day moving average of $140.40 and a 200 day moving average of $124.21. DoorDash has a 52 week low of $83.58 and a 52 week high of $165.07. The firm has a market capitalization of $64.06 billion, a price-to-earnings ratio of -345.91, a PEG ratio of 331.02 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative return on equity of 2.46% and a negative net margin of 1.69%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) earnings per share. Equities research analysts anticipate that DoorDash will post 0.01 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Tony Xu sold 81,249 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Tony Xu sold 81,249 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $149.83, for a total value of $7,491,500.00. Following the transaction, the director now owns 18,089 shares of the company’s stock, valued at $2,710,274.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,710 shares of company stock valued at $53,725,640. Corporate insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DASH. Wealth Enhancement Advisory Services LLC boosted its position in shares of DoorDash by 26.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,802 shares of the company’s stock valued at $1,488,000 after acquiring an additional 2,237 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in DoorDash by 38.5% in 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 during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in DoorDash by 7.4% in 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 during the last quarter. Norden Group LLC bought a new stake in DoorDash in the first quarter worth $1,135,000. Finally, First Trust Direct Indexing L.P. lifted its position in DoorDash by 10.1% in 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 during the last quarter. 90.64% of the stock is currently owned by 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.