DoorDash (NASDAQ:DASH) Reaches New 12-Month High - Still a Buy?

Key Points

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DoorDash, Inc. (NASDAQ:DASH - Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $252.19 and last traded at $250.80, with a volume of 356534 shares. The stock had previously closed at $248.00.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wedbush reiterated an "outperform" rating on shares of DoorDash in a report on Wednesday, May 7th. Roth Capital boosted their target price on shares of DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Citigroup reiterated an "outperform" rating on shares of DoorDash in a research note on Thursday, June 12th. Wall Street Zen raised shares of DoorDash from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, DA Davidson raised their target price on shares of DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Eleven equities 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $235.56.

DoorDash Price Performance

The firm has a 50-day moving average of $228.81 and a 200-day moving average of $202.36. The stock has a market cap of $106.53 billion, a PE ratio of 326.49 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. DoorDash's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) EPS. Equities analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Transactions at DoorDash

In other news, Director Andy Fang sold 30,000 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $217.52, for a total value of $6,525,600.00. Following the sale, the director directly owned 22,545 shares in the company, valued at $4,903,988.40. The trade was a 57.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the sale, the director owned 26,070 shares in the company, valued at $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 have sold a total of 508,189 shares of company stock valued at $115,099,939 over the last quarter. 5.83% of the stock is owned by insiders.

Hedge Funds Weigh In On DoorDash

Several large investors have recently modified their holdings of the stock. GFG Capital LLC purchased a new stake in shares of DoorDash in the second quarter valued at $30,000. Saudi Central Bank purchased a new stake in DoorDash in the 1st quarter worth about $25,000. WPG Advisers LLC bought a new stake in DoorDash in the first quarter worth about $26,000. Pacific Center for Financial Services purchased a new position in shares of DoorDash during the first quarter valued at approximately $27,000. Finally, Harbour Investments Inc. grew its stake in shares of DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after buying an additional 70 shares during the last quarter. Institutional investors 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.

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