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

DoorDash (NASDAQ:DASH - Free Report) had its price target lifted by BTIG Research from $225.00 to $265.00 in a research note released on Tuesday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Several other analysts also recently commented on the stock. Benchmark upped 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. Raymond James Financial upgraded shares of DoorDash from an "outperform" rating to a "strong-buy" rating and boosted their target price for the company from $215.00 to $260.00 in a research report on Monday, June 23rd. Needham & Company LLC upped their price target on shares of DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Wall Street Zen raised DoorDash from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Finally, Wedbush reissued an "outperform" rating on shares of DoorDash in a report on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and a consensus target price of $219.32.

DoorDash Trading Up 0.3%

Shares of DASH stock traded up $0.79 during mid-day trading on Tuesday, reaching $238.80. The stock had a trading volume of 3,966,558 shares, compared to its average volume of 4,237,131. DoorDash has a 1-year low of $99.32 and a 1-year high of $248.74. The firm has a market cap of $101.19 billion, a price-to-earnings ratio of 310.13 and a beta of 1.70. The business's fifty day moving average is $209.91 and its 200-day moving average is $192.67.

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 analyst estimates of $3.10 billion. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. DoorDash's revenue for the quarter was up 20.7% on a year-over-year basis. On average, analysts forecast that DoorDash will post 2.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Shona L. Brown sold 1,248 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $231.70, for a total value of $289,161.60. Following the completion of the sale, the director owned 45,213 shares of the company's stock, valued at approximately $10,475,852.10. This trade represents a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ashley Still sold 2,495 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $225.00, for a total transaction of $561,375.00. Following the completion of the sale, the director directly owned 1,565 shares of the company's stock, valued at $352,125. This represents a 61.45% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 318,142 shares of company stock valued at $67,890,920. Corporate insiders own 5.83% of the company's stock.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings 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 worth $7,200,642,000 after acquiring an additional 8,073,882 shares during the last quarter. Capital World Investors raised its position in DoorDash by 26.4% in the fourth 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. Price T Rowe Associates Inc. MD raised its position in DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock valued at $897,031,000 after purchasing an additional 641,601 shares during the period. Invesco Ltd. lifted its stake in DoorDash by 41.9% during the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after purchasing an additional 1,416,194 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock worth $796,781,000 after buying an additional 949,414 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.