Brokerages Set DoorDash, Inc. (NASDAQ:DASH) Target Price at $220.53

Shares of DoorDash, Inc. (NASDAQ:DASH - Get Free Report) have earned an average rating of "Moderate Buy" from the thirty-five analysts that are currently covering the stock, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $225.94.

A number of equities research analysts recently issued reports on DASH shares. DA Davidson raised their price target on DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. BTIG Research raised their price target on DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Morgan Stanley decreased their price target on DoorDash from $245.00 to $210.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a research report on Thursday, June 12th. Finally, JMP Securities lifted their target price on DoorDash from $235.00 to $250.00 and gave the company a "market outperform" rating in a research report on Tuesday.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 34,167 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $240.66, for a total value of $8,222,630.22. Following the completion of the sale, the chief executive officer directly owned 520,450 shares in the company, valued at $125,251,497. This represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andy Fang sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $240.66, for a total value of $7,219,800.00. Following the completion of the sale, the director owned 22,545 shares of the company's stock, valued at $5,425,679.70. This trade represents a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 429,031 shares of company stock valued at $94,584,086. Insiders own 5.83% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Norden Group LLC grew its position in DoorDash by 35.9% in the second quarter. Norden Group LLC now owns 4,133 shares of the company's stock worth $1,019,000 after acquiring an additional 1,092 shares during the period. Accurate Wealth Management LLC purchased a new position in shares of DoorDash during the second quarter worth $828,000. Fifth Third Bancorp boosted its position in shares of DoorDash by 31.7% during the second quarter. Fifth Third Bancorp now owns 20,056 shares of the company's stock worth $4,944,000 after buying an additional 4,823 shares during the period. Sheets Smith Wealth Management purchased a new position in shares of DoorDash during the second quarter worth $741,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of DoorDash during the second quarter worth $216,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Down 2.1%

NASDAQ DASH traded down $5.22 during trading on Friday, hitting $237.63. 2,692,584 shares of the stock traded hands, compared to its average volume of 4,971,504. The company has a market capitalization of $100.69 billion, a P/E ratio of 308.62 and a beta of 1.70. The firm has a 50-day simple moving average of $216.76 and a 200-day simple moving average of $196.39. DoorDash has a 12-month low of $99.32 and a 12-month high of $248.74.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the company earned ($0.06) EPS. DoorDash's quarterly revenue was up 20.7% compared to the same quarter last year. As a group, research analysts predict that DoorDash will post 2.22 EPS for the current fiscal year.

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.