DoorDash (NASDAQ:DASH) Price Target Raised to $326.00 at Truist Financial

Key Points

• Truist Financial has raised its price target for DoorDash from $272.00 to $326.00, suggesting a potential upside of 25.06% from its current price.
• DoorDash reported $0.65 earnings per share for the last quarter, exceeding analysts' expectations and showing a 24.9% year-over-year revenue increase.
• Insiders sold a significant amount of DoorDash stock, totaling approximately $133.7 million over the last three months, indicating a 5.83% ownership by company insiders.

DoorDash (NASDAQ:DASH - Get Free Report) had its price target raised by Truist Financial from $272.00 to $326.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price target would suggest a potential upside of 25.06% from the company's current price.

A number of other research firms also recently commented on DASH. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $230.00 target price on shares of DoorDash in a research report on Wednesday, May 7th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $250.00 price objective (up previously from $235.00) on shares of DoorDash in a report on Tuesday, July 15th. Stifel Nicolaus increased their target price on DoorDash from $198.00 to $214.00 and gave the company a "hold" rating in a report on Tuesday, July 29th. Sanford C. Bernstein boosted their price target on DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a research note on Wednesday, June 25th. Eleven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $248.26.

DoorDash Stock Performance

Shares of DASH stock traded up $2.59 during mid-day trading on Thursday, hitting $260.67. The company's stock had a trading volume of 2,882,588 shares, compared to its average volume of 4,730,401. DoorDash has a 52-week low of $121.18 and a 52-week high of $278.15. The stock has a market cap of $110.46 billion, a price-to-earnings ratio of 339.00 and a beta of 1.70. The business has a 50-day moving average price of $233.72 and a 200 day moving average price of $205.22.

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

Insider Activity

In related news, Director Andy Fang sold 30,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $217.52, for a total value of $6,525,600.00. Following the completion of the transaction, the director directly owned 22,545 shares in the company, valued at approximately $4,903,988.40. This represents a 57.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total value of $10,929,732.90. Following the transaction, the director owned 26,070 shares of the company's stock, valued at approximately $6,274,788.30. This represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 583,537 shares of company stock valued at $133,720,004 over the last three months. 5.83% of the stock is currently owned by company insiders.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DASH. Brighton Jones LLC raised its stake in 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 acquiring an additional 1,807 shares during the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of DoorDash by 14.4% during the first quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock valued at $299,000 after acquiring an additional 206 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of DoorDash by 70.4% during the 1st quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock worth $351,000 after purchasing an additional 794 shares during the period. Park Avenue Securities LLC grew its holdings in DoorDash by 9.3% in the first quarter. Park Avenue Securities LLC now owns 10,017 shares of the company's stock valued at $1,831,000 after purchasing an additional 850 shares during the period. Finally, Sowell Financial Services LLC purchased a new stake in shares of DoorDash during the 1st quarter worth about $222,000. Institutional investors and hedge funds own 90.64% of the company's stock.

About DoorDash

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.