DoorDash (NASDAQ:DASH) Given New $220.00 Price Target at Wolfe Research

DoorDash (NASDAQ:DASH - Free Report) had its target price lifted by Wolfe Research from $210.00 to $220.00 in a research note released on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also issued reports on the stock. Oppenheimer lifted their price target on shares of DoorDash from $145.00 to $160.00 and gave the stock an "outperform" rating in a research report on Friday, September 27th. Needham & Company LLC upped their price objective on shares of DoorDash from $145.00 to $180.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Royal Bank of Canada lifted their price target on DoorDash from $175.00 to $215.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Barclays upped their price objective on shares of DoorDash from $120.00 to $163.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods raised shares of DoorDash from a "market perform" rating to an "outperform" rating and set a $177.00 price target on the stock in a research report on Wednesday, September 25th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. According to MarketBeat.com, DoorDash has a consensus rating of "Moderate Buy" and an average target price of $171.42.

DoorDash Price Performance

NASDAQ:DASH traded up $4.31 during mid-day trading on Friday, reaching $174.96. The stock had a trading volume of 1,925,875 shares, compared to its average volume of 2,120,087. The company has a market capitalization of $72.68 billion, a price-to-earnings ratio of -388.80, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70. The stock's 50 day simple moving average is $171.36 and its two-hundred day simple moving average is $141.52. DoorDash has a 1-year low of $93.33 and a 1-year high of $181.78.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business's revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.19) EPS. Sell-side analysts anticipate that DoorDash will post 0.26 EPS for the current fiscal year.

Insider Transactions at DoorDash

In other DoorDash news, CEO Tony Xu sold 81,249 shares of the company's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $143.76, for a total value of $7,188,000.00. Following the transaction, the director now owns 18,089 shares in the company, valued at $2,600,474.64. The trade was a 73.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,082,694 shares of company stock worth $183,152,786. 7.92% of the stock is owned by company insiders.

Institutional Trading of DoorDash

Several large investors have recently modified their holdings of DASH. Baillie Gifford & Co. boosted its holdings in shares of DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company's stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares in the last quarter. Dragoneer Investment Group LLC grew its position in DoorDash by 77.9% in the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company's stock valued at $309,755,000 after acquiring an additional 1,246,567 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in DoorDash by 216.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company's stock worth $154,486,000 after acquiring an additional 739,961 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of DoorDash by 3,284.7% in the second quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company's stock worth $79,385,000 after acquiring an additional 708,218 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company's stock valued at $789,766,000 after purchasing an additional 700,465 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

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.