Benchmark Boosts DoorDash (NASDAQ:DASH) Price Target to $260.00

DoorDash (NASDAQ:DASH - Free Report) had its target price increased by Benchmark from $225.00 to $260.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently issued reports on DASH. Roth Capital upped their price target on DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a research note on Monday. DA Davidson upped 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. BMO Capital Markets reiterated an "outperform" rating on shares of DoorDash in a research note on Tuesday, April 29th. 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. Finally, Jefferies Financial Group restated a "hold" rating and set a $250.00 target price (up previously from $235.00) on shares of DoorDash in a research note on Tuesday. Eleven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $226.97.

DoorDash Trading Up 1.8%

NASDAQ DASH traded up $4.15 on Thursday, reaching $239.17. The stock had a trading volume of 3,407,442 shares, compared to its average volume of 4,215,667. The business has a 50 day moving average price of $220.61 and a 200 day moving average price of $197.89. DoorDash has a 1 year low of $99.32 and a 1 year high of $248.74. The company has a market capitalization of $101.35 billion, a price-to-earnings ratio of 310.61 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The business's quarterly revenue was up 20.7% compared to the same quarter last year. On average, analysts anticipate that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Andy Fang sold 30,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $240.66, for a total transaction of $7,219,800.00. Following the completion of the sale, the director directly owned 22,545 shares of the company's stock, valued at $5,425,679.70. This trade represents a 57.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Tony Xu sold 34,167 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $236.80, for a total value of $8,090,745.60. Following the completion of the transaction, the chief executive officer owned 520,450 shares in the company, valued at $123,242,560. The trade was a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 463,198 shares of company stock worth $102,674,831. 5.83% of the stock is currently owned by insiders.

Institutional Trading of DoorDash

Several institutional investors and hedge funds have recently made changes to their positions in DASH. CHURCHILL MANAGEMENT Corp lifted its holdings in DoorDash by 492.9% during the second quarter. CHURCHILL MANAGEMENT Corp now owns 51,677 shares of the company's stock worth $12,739,000 after acquiring an additional 42,961 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in DoorDash by 74.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,003,268 shares of the company's stock worth $247,316,000 after acquiring an additional 427,269 shares in the last quarter. BSW Wealth Partners lifted its holdings in DoorDash by 4.2% during the second quarter. BSW Wealth Partners now owns 2,024 shares of the company's stock worth $499,000 after acquiring an additional 82 shares in the last quarter. BOCHK Asset Management Ltd bought a new position in DoorDash during the second quarter worth about $537,000. Finally, BloombergSen Inc. lifted its holdings in DoorDash by 7.1% during the second quarter. BloombergSen Inc. now owns 8,096 shares of the company's stock worth $1,996,000 after acquiring an additional 534 shares in 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.