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DoorDash (NASDAQ:DASH – Free Report) had its target price hoisted by Benchmark from $260.00 to $315.00 in a report issued on Thursday morning,Benzinga reports. Benchmark currently has a buy rating on the stock.
Several other brokerages also recently commented on DASH. JMP Securities raised their price objective on shares of DoorDash from $235.00 to $250.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. BTIG Research raised their price objective on shares of DoorDash from $225.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, July 1st. Wedbush reaffirmed an “outperform” rating on shares of DoorDash in a research report on Wednesday, May 7th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $275.00 price target (up previously from $220.00) on shares of DoorDash in a research report on Monday, July 21st. Twelve investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $259.18.
Read Our Latest Stock Report on DASH
DoorDash Stock Performance
Shares of DASH stock opened at $259.19 on Thursday. The company has a market cap of $109.83 billion, a price-to-earnings ratio of 144.00 and a beta of 1.70. DoorDash has a 52 week low of $121.44 and a 52 week high of $278.15. The company has a quick ratio of 1.72, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $236.11 and a 200-day moving average of $206.65.
DoorDash (NASDAQ:DASH – Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The company’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.38) EPS. On average, equities analysts forecast that DoorDash will post 2.22 earnings per share for the current year.
Insider Transactions at DoorDash
In other news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on Friday, August 1st. The stock was sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following the sale, the director directly owned 26,070 shares in the company, valued at $6,442,157.70. The trade was a 63.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shona L. Brown sold 825 shares of DoorDash stock in a transaction on Friday, July 25th. The stock was sold at an average price of $250.00, for a total value of $206,250.00. Following the sale, the director owned 43,477 shares in the company, valued at $10,869,250. The trade was a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 583,537 shares of company stock worth $133,720,004. 5.83% of the stock is owned by insiders.
Institutional Investors Weigh In On DoorDash
A number of hedge funds have recently made changes to their positions in the business. Gilbert & Cook Inc. raised its stake in shares of DoorDash by 2.6% during the 2nd quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company’s stock worth $415,000 after purchasing an additional 42 shares during the period. Perigon Wealth Management LLC raised its stake in shares of DoorDash by 1.3% during the 2nd quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company’s stock worth $912,000 after purchasing an additional 46 shares during the period. Advisory Resource Group raised its stake in shares of DoorDash by 0.8% during the 2nd quarter. Advisory Resource Group now owns 5,774 shares of the company’s stock worth $1,423,000 after purchasing an additional 48 shares during the period. GeoWealth Management LLC raised its stake in shares of DoorDash by 3.7% during the 4th quarter. GeoWealth Management LLC now owns 1,428 shares of the company’s stock worth $240,000 after purchasing an additional 51 shares during the period. Finally, Yeomans Consulting Group Inc. raised its stake in shares of DoorDash by 3.9% during the 2nd quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company’s stock worth $326,000 after purchasing an additional 51 shares during the period. 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.
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