Oppenheimer Boosts DoorDash (NASDAQ:DASH) Price Target to $280.00

DoorDash (NASDAQ:DASH) had its price objective lifted by equities research analysts at Oppenheimer from $220.00 to $280.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 17.64% from the stock’s previous close.

DASH has been the topic of a number of other research reports. Benchmark upped their price target on shares of DoorDash from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Needham & Company LLC upped their price target on shares of DoorDash from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Evercore ISI reiterated an “outperform” rating on shares of DoorDash in a research note on Monday, March 10th. Morgan Stanley dropped their price target on shares of DoorDash from $245.00 to $210.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of DoorDash in a research note on Tuesday, April 29th. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $219.32.

DoorDash Price Performance

NASDAQ:DASH opened at $238.01 on Monday. The firm’s 50-day moving average price is $208.76 and its 200-day moving average price is $192.35. The company has a market capitalization of $100.85 billion, a PE ratio of 309.11 and a beta of 1.70. DoorDash has a 1-year low of $99.32 and a 1-year high of $248.74.

DoorDash (NASDAQ:DASH) last released its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The company’s revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) EPS. Equities analysts anticipate that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ashley Still sold 2,495 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $225.00, for a total value of $561,375.00. Following the completion of the sale, the director directly owned 1,565 shares of the company’s stock, valued at approximately $352,125. This represents a 61.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $231.70, for a total transaction of $330,172.50. Following the completion of the sale, the chief financial officer directly owned 265,530 shares of the company’s stock, valued at $61,523,301. This represents a 0.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 298,142 shares of company stock worth $62,950,920 in the last ninety days. Corporate insiders own 5.83% of the company’s stock.

Institutional Investors Weigh In On DoorDash

A number of institutional investors have recently added to or reduced their stakes in DASH. Brighton Jones LLC increased its position in DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after purchasing an additional 1,807 shares during the last quarter. IFP Advisors Inc increased its position in DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after purchasing an additional 54 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in DoorDash by 4.2% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 6,140 shares of the company’s stock worth $1,030,000 after purchasing an additional 248 shares during the last quarter. Versor Investments LP bought a new stake in DoorDash in the fourth quarter worth $369,000. Finally, SVB Wealth LLC bought a new stake in DoorDash in the fourth quarter worth $1,108,000. 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.