DoorDash (NASDAQ:DASH) Sets New 52-Week High - Should You Buy?

DoorDash, Inc. (NASDAQ:DASH - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $229.95 and last traded at $228.51, with a volume of 1451485 shares traded. The stock had previously closed at $220.46.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. DA Davidson upped their price objective on DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Roth Capital set a $191.00 price objective on DoorDash and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Wall Street Zen raised DoorDash from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $230.00 price objective on shares of DoorDash in a report on Wednesday, May 7th. Finally, KeyCorp dropped their target price on shares of DoorDash from $240.00 to $230.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $214.76.

DoorDash Stock Performance

The firm has a market cap of $101.55 billion, a P/E ratio of 311.22 and a beta of 1.67. The stock's 50-day moving average is $204.82 and its 200 day moving average is $190.85.

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

Insider Buying and Selling

In other news, insider Keith Yandell sold 5,410 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $204.53, for a total transaction of $1,106,507.30. Following the completion of the transaction, the insider now directly owns 104,922 shares in the company, valued at $21,459,696.66. This represents a 4.90% 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 stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the transaction, the director now owns 18,285 shares of the company's stock, valued at approximately $3,313,424.85. This represents a 71.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 333,552 shares of company stock valued at $67,677,166. Company insiders own 5.83% of the company's stock.

Hedge Funds Weigh In On DoorDash

Large investors have recently modified their holdings of the business. Saudi Central Bank acquired a new position in shares of DoorDash during the 1st quarter worth about $25,000. WPG Advisers LLC acquired a new position in shares of DoorDash during the 1st quarter worth about $26,000. Pacific Center for Financial Services acquired a new position in shares of DoorDash during the 1st quarter worth about $27,000. Harbour Investments Inc. boosted its stake in shares of DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after buying an additional 70 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of DoorDash by 31.8% during the 4th quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after buying an additional 54 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.