DoorDash (NASDAQ:DASH) Price Target Raised to $160.00 at Piper Sandler

by · The Cerbat Gem

DoorDash (NASDAQ:DASH – Get Free Report) had its target price upped by stock analysts at Piper Sandler from $125.00 to $160.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock.

DASH has been the topic of a number of other reports. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of DoorDash in a research report on Monday, October 7th. Bank of America increased their price target on DoorDash from $168.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday. BMO Capital Markets lifted their price objective on DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company increased their target price on DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, October 4th. Finally, Oppenheimer lifted their price target on DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Ten 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.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $155.91.

View Our Latest Stock Analysis on DASH

DoorDash Stock Up 3.1 %

NASDAQ:DASH opened at $160.00 on Thursday. The firm has a 50-day moving average price of $139.31 and a 200 day moving average price of $123.83. The firm has a market capitalization of $65.85 billion, a PE ratio of -161.09, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70. DoorDash has a 12-month low of $72.65 and a 12-month high of $165.07.

DoorDash (NASDAQ:DASH – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the business posted ($0.19) earnings per share. The business’s revenue was up 25.0% compared to the same quarter last year. On average, research analysts expect that DoorDash will post 0.01 EPS for the current year.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total transaction of $6,685,709.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at $2,355,187.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total value of $6,685,709.38. The disclosure for this sale can be found here. In the last three months, insiders sold 383,710 shares of company stock worth $53,725,640. 7.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoorDash

Large investors have recently bought and sold shares of the company. ORG Partners LLC raised its holdings in shares of DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 253 shares during the last quarter. Headlands Technologies LLC bought a new position in DoorDash in the second quarter valued at $32,000. Meeder Asset Management Inc. increased its stake in DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares during the last quarter. Hollencrest Capital Management bought a new stake in DoorDash during the 1st quarter worth about $42,000. Finally, Versant Capital Management Inc boosted its stake in shares of DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after buying an additional 259 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

About DoorDash

(Get Free Report)

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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