DoorDash (NASDAQ:DASH) Price Target Raised to $275.00 at Raymond James Financial

DoorDash (NASDAQ:DASH - Free Report) had its price target boosted by Raymond James Financial from $260.00 to $275.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a strong-buy rating on the stock.

Several other research firms have also weighed in on DASH. JMP Securities boosted their target price on shares of DoorDash from $235.00 to $250.00 and gave the company a "market outperform" rating in a report on Tuesday, July 15th. UBS Group dropped their price objective on shares of DoorDash from $197.00 to $196.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Royal Bank Of Canada reissued an "outperform" rating and issued a $230.00 price objective on shares of DoorDash in a research report on Wednesday, May 7th. Needham & Company LLC increased their target price on shares of DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, BTIG Research increased their price target on shares of DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Twelve research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, DoorDash has a consensus rating of "Moderate Buy" and an average target price of $230.34.

DoorDash Stock Performance

NASDAQ:DASH traded down $0.71 during midday trading on Monday, reaching $239.82. 1,724,670 shares of the stock traded hands, compared to its average volume of 4,184,516. DoorDash has a 12-month low of $99.32 and a 12-month high of $248.74. The business has a 50-day moving average of $221.73 and a two-hundred day moving average of $198.79. The stock has a market capitalization of $101.62 billion, a PE ratio of 311.46 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 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.10 billion. During the same quarter last year, the company posted ($0.06) earnings per share. The firm's revenue was up 20.7% compared to the same quarter last year. Research analysts anticipate that DoorDash will post 2.22 earnings per share for the current year.

Insider Activity

In other news, CEO Tony Xu sold 34,167 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $236.80, for a total transaction of $8,090,745.60. Following the completion of the transaction, the chief executive officer owned 520,450 shares in the company, valued at approximately $123,242,560. This represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shona L. Brown sold 1,250 shares of the company's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $244.99, for a total transaction of $306,237.50. Following the transaction, the director owned 44,302 shares of the company's stock, valued at $10,853,546.98. This represents a 2.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 463,198 shares of company stock valued at $102,674,831 over the last quarter. 5.83% of the stock is owned by company insiders.

Institutional Trading of DoorDash

Hedge funds have recently bought and sold shares of the company. Fortis Capital Advisors LLC acquired a new position in DoorDash in the second quarter worth approximately $1,053,000. Franklin Street Advisors Inc. NC raised its position in shares of DoorDash by 7.0% in the second quarter. Franklin Street Advisors Inc. NC now owns 148,468 shares of the company's stock valued at $36,599,000 after purchasing an additional 9,747 shares during the period. Ascent Group LLC raised its position in shares of DoorDash by 32.5% in the second quarter. Ascent Group LLC now owns 2,295 shares of the company's stock valued at $566,000 after purchasing an additional 563 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of DoorDash in the second quarter valued at approximately $90,000. Finally, Yeomans Consulting Group Inc. grew its stake in shares of DoorDash by 3.9% in the second quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company's stock worth $326,000 after acquiring an additional 51 shares during the last quarter. 90.64% of the stock is 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.