DoorDash (NASDAQ:DASH) Sets New 1-Year High - Time to Buy?

DoorDash, Inc. (NASDAQ:DASH - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $223.29 and last traded at $221.88, with a volume of 558501 shares trading hands. The stock had previously closed at $218.96.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DASH shares. JPMorgan Chase & Co. reduced their price target on DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Needham & Company LLC raised their target price on DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Oppenheimer reiterated a "hold" rating on shares of DoorDash in a research note on Monday, March 10th. Wall Street Zen raised DoorDash from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Finally, BMO Capital Markets restated an "outperform" rating on shares of DoorDash in a research note on Tuesday, April 29th. Eleven equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and an average price target of $210.21.

DoorDash Trading Up 1.1%

The stock has a market capitalization of $93.82 billion, a P/E ratio of 820.23 and a beta of 1.67. The stock's fifty day moving average price is $196.51 and its two-hundred day moving average price is $187.92.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the firm posted ($0.06) earnings per share. The firm's revenue for the quarter was up 20.7% on a year-over-year basis. As a group, analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction on Friday, April 25th. The shares were sold at an average price of $187.22, for a total value of $266,788.50. Following the sale, the chief financial officer now owns 337,430 shares in the company, valued at $63,173,644.60. The trade was a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Prabir Adarkar sold 20,000 shares of DoorDash stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $185.58, for a total transaction of $3,711,600.00. Following the sale, the chief operating officer now directly owns 887,348 shares in the company, valued at $164,674,041.84. The trade was a 2.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 298,030 shares of company stock worth $59,433,406. 5.83% of the stock is currently owned by insiders.

Institutional Trading of DoorDash

Institutional investors have recently bought and sold shares of the company. Saudi Central Bank purchased a new position in shares of DoorDash in the 1st quarter worth $25,000. WPG Advisers LLC purchased a new position in DoorDash in the 1st quarter worth approximately $26,000. Pacific Center for Financial Services bought a new position in shares of DoorDash during the first quarter worth $27,000. Pittenger & Anderson Inc. purchased a new position in shares of DoorDash during the fourth quarter valued at about $29,000. Finally, Denver PWM LLC bought a new stake in shares of DoorDash in the fourth quarter worth about $30,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

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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