DoorDash (NASDAQ:DASH) Price Target Raised to $310.00 at Oppenheimer

Key Points

• Oppenheimer raised its price target for DoorDash from $280.00 to $310.00, indicating a potential upside of 15.67% from the current price, while maintaining an "outperform" rating on the stock.
• Other analysts have also increased their price targets for DoorDash, with JMP Securities setting a target of $335.00 and BMO Capital Markets raising theirs to $288.00, showing strong confidence in the stock's performance.
• DoorDash's quarterly earnings beat analysts' expectations, reporting $0.65 earnings per share, exceeding the consensus estimate of $0.42, with revenues increasing by 24.9% year-over-year.

DoorDash (NASDAQ:DASH - Free Report) had its price objective hoisted by Oppenheimer from $280.00 to $310.00 in a report released on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Wells Fargo & Company boosted their price target on DoorDash from $198.00 to $239.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Jefferies Financial Group restated a "hold" rating and issued a $250.00 price target (up from $235.00) on shares of DoorDash in a report on Tuesday, July 15th. Royal Bank Of Canada reissued an "outperform" rating and set a $230.00 price target on shares of DoorDash in a research report on Wednesday, May 7th. Bank of America increased their price target on DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Needham & Company LLC increased their price target on DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Twelve analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $263.88.

DoorDash Stock Down 0.7%

Shares of NASDAQ:DASH traded down $1.78 on Thursday, hitting $257.41. 1,663,669 shares of the company traded hands, compared to its average volume of 4,773,550. DoorDash has a 52 week low of $121.44 and a 52 week high of $278.15. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $236.11 and a 200-day simple moving average of $206.81. The company has a market cap of $109.08 billion, a PE ratio of 143.15 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the company earned ($0.38) EPS. DoorDash's revenue for the quarter was up 24.9% on a year-over-year basis. As a group, research analysts expect that DoorDash will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In other DoorDash news, Director Andy Fang sold 30,000 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $247.04, for a total value of $7,411,200.00. Following the completion of the sale, the director directly owned 22,545 shares in the company, valued at $5,569,516.80. This represents a 57.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $244.78, for a total value of $348,811.50. Following the completion of the sale, the chief financial officer owned 244,905 shares of the company's stock, valued at approximately $59,947,845.90. The trade was a 0.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 583,537 shares of company stock worth $133,720,004 over the last quarter. Corporate insiders own 5.83% of the company's stock.

Hedge Funds Weigh In On DoorDash

Several hedge funds have recently bought and sold shares of the company. Gilbert & Cook Inc. grew its stake in DoorDash by 2.6% during the 2nd quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company's stock worth $415,000 after buying an additional 42 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of DoorDash by 1.3% in the second quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company's stock worth $912,000 after acquiring an additional 46 shares during the last quarter. Advisory Resource Group raised its holdings in shares of DoorDash by 0.8% in the second quarter. Advisory Resource Group now owns 5,774 shares of the company's stock worth $1,423,000 after acquiring an additional 48 shares during the last quarter. GeoWealth Management LLC grew its position in shares of DoorDash by 3.7% in the fourth quarter. GeoWealth Management LLC now owns 1,428 shares of the company's stock valued at $240,000 after purchasing an additional 51 shares during the period. Finally, Yeomans Consulting Group Inc. grew its position in DoorDash by 3.9% during the second quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company's stock valued at $326,000 after acquiring an additional 51 shares during the period. 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.