KeyCorp Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH - Get Free Report) had its price objective raised by equities researchers at KeyCorp from $235.00 to $295.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's price objective would indicate a potential upside of 24.59% from the company's current price.

Several other equities research analysts have also issued reports on DASH. Citigroup restated an "outperform" rating on shares of DoorDash in a report on Thursday, June 12th. Morgan Stanley lowered their target price on shares of DoorDash from $245.00 to $210.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Oppenheimer lifted their price objective on shares of DoorDash from $220.00 to $280.00 and gave the company an "outperform" rating in a report on Monday, June 30th. Needham & Company LLC lifted their price objective on shares of DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Benchmark lifted their price objective on shares of DoorDash from $220.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Eleven equities research 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. Based on data from MarketBeat.com, DoorDash currently has an average rating of "Moderate Buy" and an average price target of $225.94.

DoorDash Trading Down 2.5%

DASH traded down $6.08 during trading on Monday, hitting $236.77. 3,484,082 shares of the company traded hands, compared to its average volume of 4,231,088. The company has a market cap of $100.33 billion, a PE ratio of 307.50 and a beta of 1.70. The stock's 50-day simple moving average is $218.43 and its two-hundred day simple moving average is $197.18. DoorDash has a 1 year low of $99.32 and a 1 year high of $248.74.

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

Insider Transactions at DoorDash

In other news, Director Shona L. Brown sold 1,250 shares of the stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $244.99, for a total value of $306,237.50. Following the sale, the director owned 44,302 shares in the company, valued at $10,853,546.98. This represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andy Fang sold 30,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $240.66, for a total transaction of $7,219,800.00. Following the completion of the transaction, the director owned 22,545 shares of the company's stock, valued at approximately $5,425,679.70. This represents a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 429,031 shares of company stock valued at $94,584,086. 5.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Several large investors have recently made changes to their positions in DASH. Vanguard Group Inc. lifted its stake in shares of DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after purchasing an additional 8,073,882 shares during the period. Norges Bank acquired a new position in shares of DoorDash in the 4th quarter valued at $597,443,000. Capital World Investors lifted its stake in shares of DoorDash by 26.4% in the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock valued at $2,038,712,000 after purchasing an additional 2,538,160 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of DoorDash by 67.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock valued at $780,858,000 after purchasing an additional 1,869,866 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of DoorDash by 442.5% in the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock valued at $321,799,000 after purchasing an additional 1,497,636 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.