DoorDash (NASDAQ:DASH) Price Target Raised to $280.00 at UBS Group

Key Points

• UBS Group has raised its price target for DoorDash to $280.00, suggesting a potential upside of 4.41% from the stock's last close, while maintaining a "neutral" rating.
• Other analysts also increased their ratings on DoorDash, with BMO Capital Markets setting a target of $288.00 and JMP Securities at $335.00, indicating strong overall analyst support for the stock.
• DoorDash reported $3.28 billion in revenue for the last quarter, exceeding expectations, and showed a significant year-over-year revenue growth of 24.9%.

DoorDash (NASDAQ:DASH - Get Free Report) had its price target lifted by analysts at UBS Group from $260.00 to $280.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's target price would indicate a potential upside of 4.41% from the stock's previous close.

A number of other equities analysts also recently issued reports on DASH. BMO Capital Markets raised their price objective on DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday. Bank of America boosted their target price on DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. JMP Securities boosted their price objective on shares of DoorDash from $250.00 to $335.00 and gave the company a "market outperform" rating in a report on Thursday. Raymond James Financial reiterated a "strong-buy" rating and issued a $325.00 target price (up previously from $275.00) on shares of DoorDash in a report on Thursday. Finally, Wall Street Zen upgraded shares of DoorDash from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Eleven investment 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. According to MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and a consensus price target of $253.59.

DoorDash Stock Performance

NASDAQ DASH traded up $10.10 on Thursday, reaching $268.18. The company's stock had a trading volume of 5,070,245 shares, compared to its average volume of 4,750,376. The firm's 50 day moving average is $233.72 and its two-hundred day moving average is $205.22. DoorDash has a twelve month low of $121.18 and a twelve month high of $278.15. The stock has a market cap of $113.64 billion, a PE ratio of 347.36 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.23. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The business's revenue was up 24.9% on a year-over-year basis. During the same period last year, the business earned ($0.38) earnings per share. Equities research analysts anticipate that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Activity at DoorDash

In other news, COO Prabir Adarkar sold 62,267 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $202.67, for a total value of $12,619,652.89. Following the sale, the chief operating officer directly owned 942,554 shares in the company, valued at approximately $191,027,419.18. This represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Tony Xu sold 44,244 shares of the company's stock in a transaction on Monday, June 16th. The shares were 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 in the company, valued at $114,868,519.50. This trade represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 583,537 shares of company stock worth $133,720,004 over the last ninety days. 5.83% of the stock is owned by corporate insiders.

Institutional Trading of DoorDash

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares during the period. Capital World Investors raised its holdings in DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in DoorDash by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock worth $897,031,000 after purchasing an additional 641,601 shares in the last quarter. Invesco Ltd. boosted its position in DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after acquiring an additional 1,416,194 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in DoorDash by 38.2% during the 1st quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock valued at $604,829,000 after purchasing an additional 915,512 shares during the last quarter. Institutional investors and hedge funds 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.

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