DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Benchmark Analyst Says

Key Points

• Benchmark analysts have raised their price target for DoorDash from $260.00 to $315.00, indicating a potential upside of 22.03% from the current stock price.
• DoorDash's quarterly earnings report revealed a $0.65 EPS, beating analysts' expectations of $0.42, with revenue of $3.28 billion, a 24.9% increase year-over-year.
• Insider trading activity showed a significant reduction in ownership as CEO Tony Xu and Director Stanley Tang sold shares, collectively valued over $12 million.

DoorDash (NASDAQ:DASH - Get Free Report) had its price target boosted by research analysts at Benchmark from $260.00 to $315.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Benchmark's price target would indicate a potential upside of 22.03% from the stock's previous close.

DASH has been the topic of several other research reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $230.00 price target on shares of DoorDash in a research report on Wednesday, May 7th. Loop Capital restated a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. Morgan Stanley restated an "overweight" rating and issued a $275.00 target price (up previously from $220.00) on shares of DoorDash in a research report on Monday, July 21st. Oppenheimer raised their target price on shares of DoorDash from $220.00 to $280.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. Finally, Wedbush reiterated an "outperform" rating on shares of DoorDash in a report on Wednesday, May 7th. Twelve analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, DoorDash presently has an average rating of "Moderate Buy" and an average price target of $263.88.

DoorDash Trading Down 0.4%

DASH traded down $1.05 during trading on Thursday, reaching $258.14. 1,585,297 shares of the company's stock were exchanged, compared to its average volume of 4,772,716. The company's fifty day moving average price is $236.11 and its 200-day moving average price is $206.81. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash has a fifty-two week low of $121.44 and a fifty-two week high of $278.15. The firm has a market capitalization of $109.38 billion, a PE ratio of 143.40 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly 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 firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The company's revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.38) EPS. As a group, equities analysts forecast that DoorDash will post 2.22 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $244.78, for a total transaction of $348,811.50. Following the completion of the transaction, the chief financial officer directly owned 244,905 shares of the company's stock, valued at $59,947,845.90. This represents a 0.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shona L. Brown sold 825 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $250.00, for a total transaction of $206,250.00. Following the transaction, the director directly owned 43,477 shares of the company's stock, valued at $10,869,250. This represents a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 583,537 shares of company stock worth $133,720,004 in the last ninety days. 5.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GFG Capital LLC bought a new stake in shares of DoorDash during the 2nd quarter valued at $30,000. Saudi Central Bank purchased a new stake in shares of DoorDash during the 1st quarter valued at $25,000. WPG Advisers LLC purchased a new stake in shares of DoorDash during the 1st quarter valued at $26,000. Pacific Center for Financial Services purchased a new stake in shares of DoorDash during the 1st quarter valued at $27,000. Finally, Harbour Investments Inc. raised its position in shares of DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after buying an additional 70 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

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.