JMP Securities Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH - Free Report) had its price objective raised by JMP Securities from $225.00 to $235.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

DASH has been the topic of a number of other reports. Roth Capital set a $191.00 target price on shares of DoorDash and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Royal Bank of Canada restated an "outperform" rating and set a $230.00 price objective on shares of DoorDash in a research note on Wednesday, May 7th. UBS Group reduced their price objective on shares of DoorDash from $197.00 to $196.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Bank of America raised their price objective on shares of DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Piper Sandler restated a "neutral" rating and set a $210.00 price objective (up from $160.00) on shares of DoorDash in a research note on Wednesday, February 12th. Eleven analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $210.21.

DoorDash Stock Down 0.6%

Shares of NASDAQ:DASH traded down $1.20 during midday trading on Thursday, reaching $216.60. The company's stock had a trading volume of 2,510,505 shares, compared to its average volume of 4,203,649. The firm has a 50 day moving average of $195.44 and a 200-day moving average of $187.51. The firm has a market capitalization of $91.78 billion, a P/E ratio of 802.22 and a beta of 1.67. DoorDash has a 12-month low of $99.32 and a 12-month high of $220.88.

DoorDash (NASDAQ:DASH - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The company's revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) EPS. On average, research analysts predict that DoorDash will post 2.22 EPS for the current year.

Insider Buying and Selling at DoorDash

In other news, CFO Ravi Inukonda sold 14,715 shares of DoorDash stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $196.52, for a total transaction of $2,891,791.80. Following the sale, the chief financial officer now owns 338,055 shares in the company, valued at $66,434,568.60. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Prabir Adarkar sold 20,000 shares of DoorDash stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $185.58, for a total transaction of $3,711,600.00. Following the sale, the chief operating officer now owns 887,348 shares in the company, valued at approximately $164,674,041.84. The trade was a 2.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 298,030 shares of company stock valued at $59,433,406 over the last 90 days. 5.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Several institutional investors and hedge funds have recently modified their holdings of the stock. GeoWealth Management LLC raised its position in shares of DoorDash by 3.7% during the fourth quarter. GeoWealth Management LLC now owns 1,428 shares of the company's stock valued at $240,000 after buying an additional 51 shares during the last quarter. IFP Advisors Inc increased its position in DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after purchasing an additional 54 shares during the last quarter. Palo Alto Wealth Advisors LLC increased its position in DoorDash by 0.4% in the first quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company's stock worth $2,385,000 after purchasing an additional 54 shares during the last quarter. SageView Advisory Group LLC increased its position in DoorDash by 5.1% in the first quarter. SageView Advisory Group LLC now owns 1,435 shares of the company's stock worth $262,000 after purchasing an additional 69 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

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.