DoorDash (NASDAQ:DASH) Given New $239.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus has raised its price target for DoorDash from $214 to $239, maintaining a "hold" rating, which suggests a potential downside of 11.42% from the stock's last close.
• Several analysts have issued positive ratings for DoorDash, with projections ranging from $260 to $290 as their target prices, indicating a general market optimism towards the company.
• DoorDash's stock price increased by 4.5% during midday trading, reaching $269.81, reflecting strong investor interest and increasing trading volume.

DoorDash (NASDAQ:DASH - Get Free Report) had its price objective boosted by equities researchers at Stifel Nicolaus from $214.00 to $239.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Stifel Nicolaus' price objective indicates a potential downside of 11.42% from the company's previous close.

Other research analysts have also recently issued research reports about the company. Sanford C. Bernstein lifted their price objective on DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Loop Capital reiterated a "buy" rating on shares of DoorDash in a research note on Tuesday, July 15th. Cantor Fitzgerald reiterated an "overweight" rating and set a $260.00 target price (up from $210.00) on shares of DoorDash in a research note on Wednesday, June 25th. Piper Sandler increased their target price on DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, BMO Capital Markets increased their target price on DoorDash from $238.00 to $288.00 and gave the company an "outperform" rating in a research note on Thursday. Eleven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $253.59.

DoorDash Stock Up 4.5%

Shares of NASDAQ DASH traded up $11.73 during midday trading on Thursday, reaching $269.81. The company had a trading volume of 5,445,166 shares, compared to its average volume of 4,752,968. DoorDash has a one year low of $121.18 and a one year high of $278.15. The firm's fifty day moving average price is $233.72 and its 200-day moving average price is $205.22. The stock has a market cap of $114.33 billion, a PE ratio of 350.46 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the company posted ($0.38) EPS. DoorDash's quarterly revenue was up 24.9% compared to the same quarter last year. As a group, equities research analysts expect that DoorDash will post 2.22 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 4,042 shares of DoorDash stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $250.28, for a total value of $1,011,631.76. Following the sale, the chief executive officer owned 520,450 shares of the company's stock, valued at $130,258,226. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction dated 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 sale, the chief financial officer directly owned 244,905 shares in the company, valued at approximately $59,947,845.90. The trade was a 0.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 583,537 shares of company stock valued at $133,720,004. Corporate insiders own 5.83% of the company's stock.

Hedge Funds Weigh In On DoorDash

A number of institutional investors have recently modified their holdings of DASH. Saudi Central Bank acquired a new position in DoorDash during the first quarter worth approximately $25,000. WPG Advisers LLC purchased a new stake in DoorDash during the first quarter worth approximately $26,000. Pacific Center for Financial Services purchased a new stake in DoorDash during the first quarter worth approximately $27,000. GFG Capital LLC purchased a new stake in DoorDash during the second quarter worth approximately $30,000. Finally, Harbour Investments Inc. grew its stake in DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds 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.

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