DoorDash (NASDAQ:DASH) Hits New 1-Year High - Should You Buy?

DoorDash, Inc. (NASDAQ:DASH - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $219.59 and last traded at $218.95, with a volume of 1140039 shares. The stock had previously closed at $213.70.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on DASH shares. Oppenheimer reaffirmed a "hold" rating on shares of DoorDash in a research note on Monday, March 10th. Benchmark boosted their price objective on DoorDash from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Mizuho upped their price target on DoorDash from $200.00 to $222.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Piper Sandler reissued a "neutral" rating and set a $210.00 price objective (up previously from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. dropped their price objective on DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Eleven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, DoorDash has an average rating of "Moderate Buy" and a consensus price target of $209.97.

DoorDash Trading Down 2.0%

The firm has a market capitalization of $91.46 billion, a price-to-earnings ratio of 799.41 and a beta of 1.67. The stock's 50 day moving average price is $190.58 and its two-hundred day moving average price is $185.78.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its 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 analysts' expectations of $3.10 billion. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The firm's quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the business posted ($0.06) earnings per share. On average, sell-side analysts forecast 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 14,296 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $205.54, for a total value of $2,938,399.84. Following the sale, the chief financial officer now directly owns 380,037 shares in the company, valued at $78,112,804.98. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stanley Tang sold 45,231 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $211.36, for a total value of $9,560,024.16. Following the transaction, the director now directly owns 26,070 shares in the company, valued at $5,510,155.20. The trade was a 63.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,967 shares of company stock worth $52,894,360 over the last ninety days. 5.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DoorDash

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after acquiring an additional 8,073,882 shares in the last quarter. Capital World Investors boosted its position in DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of DoorDash by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock valued at $897,031,000 after buying an additional 641,601 shares in the last quarter. Invesco Ltd. raised its stake in DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after purchasing an additional 1,416,194 shares during the period. Finally, Franklin Resources Inc. increased its stake in DoorDash by 25.0% in the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock worth $796,781,000 after acquiring an additional 949,414 shares during the last quarter. 90.64% of the stock is currently owned by 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.