DoorDash (NASDAQ:DASH) Price Target Raised to $265.00

DoorDash (NASDAQ:DASH) had its target price increased by Jefferies Financial Group from $250.00 to $265.00 in a report released on Monday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Several other research analysts have also commented on the company. BMO Capital Markets lifted their target price on DoorDash from $238.00 to $288.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Royal Bank Of Canada lifted their target price on DoorDash from $230.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Morgan Stanley lifted their target price on DoorDash from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Roth Capital raised their price target on DoorDash from $191.00 to $225.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Finally, UBS Group raised their price target on DoorDash from $260.00 to $280.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average target price of $263.88.

DoorDash Price Performance

Shares of DASH opened at $254.20 on Monday. The firm has a market cap of $107.72 billion, a price-to-earnings ratio of 141.22 and a beta of 1.70. The stock has a 50 day moving average of $238.66 and a 200-day moving average of $208.04. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash has a 52 week low of $122.32 and a 52 week high of $278.15.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.42 by $0.23. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%. The business’s revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.38) EPS. As a group, analysts forecast that DoorDash will post 2.22 EPS for the current year.

Insider Buying and Selling

In other news, Director Stanley Tang sold 45,410 shares of the business’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $247.11, for a total value of $11,221,265.10. Following the sale, the director owned 26,070 shares of the company’s stock, valued at approximately $6,442,157.70. The trade was a 63.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $244.78, for a total value of $348,811.50. Following the completion of the sale, the chief financial officer directly owned 244,905 shares in the company, valued at $59,947,845.90. This represents a 0.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 686,437 shares of company stock worth $161,070,166. 5.83% of the stock is owned by corporate insiders.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of DoorDash by 4.6% during the second quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock worth $10,153,768,000 after purchasing an additional 1,792,799 shares during the period. Capital World Investors raised its position in shares of DoorDash by 26.4% during the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares during the period. Geode Capital Management LLC raised its position in shares of DoorDash by 2.9% during the second quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock worth $1,950,711,000 after purchasing an additional 223,188 shares during the period. Invesco Ltd. raised its position in shares of DoorDash by 12.0% during the second quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock worth $1,325,110,000 after purchasing an additional 575,629 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of DoorDash by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock worth $897,031,000 after purchasing an additional 641,601 shares during the period. 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.