DoorDash (NASDAQ:DASH) Price Target Raised to $272.00

DoorDash (NASDAQ:DASH) had its target price raised by equities researchers at Truist Financial from $230.00 to $272.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 9.68% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Benchmark lifted their target price on DoorDash from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Roth Capital lifted their target price on DoorDash from $191.00 to $225.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. JMP Securities boosted their price objective on DoorDash from $235.00 to $250.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 15th. Bank of America boosted their price objective on DoorDash from $230.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, June 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a research note on Wednesday, June 25th. Eleven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average price target of $235.56.

DoorDash Price Performance

Shares of DoorDash stock opened at $248.00 on Tuesday. The business’s fifty day moving average price is $228.81 and its two-hundred day moving average price is $202.36. The company has a market capitalization of $105.09 billion, a P/E ratio of 322.08 and a beta of 1.70. DoorDash has a 1-year low of $105.91 and a 1-year high of $250.71.

DoorDash (NASDAQ:DASH) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 4.39% and a net margin of 3.02%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) EPS. On average, research analysts expect that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the transaction, the director owned 26,070 shares in the company, valued at approximately $6,274,788.30. The trade was a 63.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $217.52, for a total value of $6,525,600.00. Following the transaction, the director owned 22,545 shares in the company, valued at $4,903,988.40. This represents a 57.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 508,189 shares of company stock valued at $115,099,939. Insiders own 5.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC boosted its position in DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after purchasing an additional 1,807 shares during the last quarter. LPL Financial LLC boosted its position in DoorDash by 23.0% during the fourth quarter. LPL Financial LLC now owns 75,192 shares of the company’s stock valued at $12,613,000 after purchasing an additional 14,037 shares during the last quarter. Prudential Financial Inc. boosted its position in DoorDash by 1.4% during the fourth quarter. Prudential Financial Inc. now owns 12,181 shares of the company’s stock valued at $2,043,000 after purchasing an additional 165 shares during the last quarter. Blair William & Co. IL boosted its position in DoorDash by 18.2% during the fourth quarter. Blair William & Co. IL now owns 4,304 shares of the company’s stock valued at $722,000 after purchasing an additional 664 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its position in DoorDash by 11.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 9,163 shares of the company’s stock valued at $1,537,000 after purchasing an additional 957 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.