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UBS Group Increases DoorDash (NASDAQ:DASH) Price Target to $260.00

DoorDash logo with Computer and Technology background

Key Points

  • UBS Group raised DoorDash's price target from $196.00 to $260.00, maintaining a "neutral" rating, indicating a potential upside of 7.09% from the current stock price.
  • Other firms like Raymond James and Bank of America also increased their price targets significantly, with Raymond James setting a new target of $275.00 and granting a "strong-buy" rating.
  • Insider trading activity showed CEO Tony Xu sold over 44,000 shares while maintaining a significant ownership stake, indicating mixed signals regarding insider confidence in the company's future.
  • MarketBeat previews top five stocks to own in September.

DoorDash (NASDAQ:DASH - Get Free Report) had its price target upped by UBS Group from $196.00 to $260.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price target would suggest a potential upside of 4.69% from the stock's previous close.

Other analysts also recently issued research reports about the company. BTIG Research lifted their target price on DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. cut their target price on DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Roth Capital lifted their target price on DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Wall Street Zen raised DoorDash from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Wedbush reaffirmed an "outperform" rating on shares of DoorDash in a research note on Wednesday, May 7th. Eleven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $235.56.

Check Out Our Latest Report on DASH

DoorDash Trading Down 0.8%

NASDAQ:DASH traded down $1.90 during mid-day trading on Tuesday, hitting $248.35. The stock had a trading volume of 2,945,040 shares, compared to its average volume of 4,762,427. The stock has a market capitalization of $105.24 billion, a price-to-earnings ratio of 322.54 and a beta of 1.70. The company has a 50 day simple moving average of $229.80 and a 200-day simple moving average of $202.92. DoorDash has a 52 week low of $106.21 and a 52 week high of $252.87.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 4.39% and a net margin of 3.02%. The firm's revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) EPS. As a group, equities research analysts anticipate that DoorDash will post 2.22 earnings per share for the current year.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $217.52, for a total value of $6,525,600.00. Following the completion of the sale, the director directly owned 22,545 shares in the company, valued at $4,903,988.40. The trade was a 57.09% 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, CEO Tony Xu sold 44,244 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the completion of the sale, the chief executive officer directly owned 520,450 shares of the company's stock, valued at $114,868,519.50. This represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 508,127 shares of company stock valued at $115,087,539. Insiders own 5.83% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after purchasing an additional 1,807 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of DoorDash by 14.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock valued at $299,000 after purchasing an additional 206 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of DoorDash by 70.4% during the 1st quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock valued at $351,000 after purchasing an additional 794 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of DoorDash by 9.3% during the 1st quarter. Park Avenue Securities LLC now owns 10,017 shares of the company's stock worth $1,831,000 after buying an additional 850 shares during the period. Finally, Sowell Financial Services LLC bought a new stake in shares of DoorDash during the 1st quarter worth $222,000. Institutional investors own 90.64% of the company's stock.

About DoorDash

(Get Free Report)

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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