DoorDash (NASDAQ:DASH) Price Target Raised to $360.00 at Evercore ISI

Key Points

• Evercore ISI has raised its price target for DoorDash (NASDAQ:DASH) from $240 to $360, indicating a potential upside of 32.85% from its current price, and maintains an "outperform" rating on the stock.
• Insider selling has occurred recently, with COO Prabir Adarkar and CEO Tony Xu selling significant shares, indicating a 6.20% and 7.84% decrease in their respective holdings.
• DoorDash reported $3.28 billion in revenue for the last quarter, beating expectations and marking a 24.9% increase compared to the previous year's quarter.

DoorDash (NASDAQ:DASH - Get Free Report) had its target price lifted by investment analysts at Evercore ISI from $240.00 to $360.00 in a report released on Friday, Marketbeat Ratings reports. The firm presently has an "outperform" rating on the stock. Evercore ISI's price target indicates a potential upside of 38.89% from the company's previous close.

Other equities research analysts have also recently issued research reports about the company. Citigroup reissued an "outperform" rating on shares of DoorDash in a report on Thursday. Benchmark upped their price target on DoorDash from $260.00 to $315.00 and gave the company a "buy" rating in a report on Thursday. Roth Capital upped their price target on DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Stifel Nicolaus upped their price target on DoorDash from $214.00 to $239.00 and gave the company a "hold" rating in a report on Thursday. Finally, Piper Sandler upped their price target on DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $259.18.

DoorDash Price Performance

NASDAQ:DASH traded down $11.80 during midday trading on Friday, hitting $259.19. 5,340,842 shares of the stock were exchanged, compared to its average volume of 3,280,438. DoorDash has a one year low of $121.44 and a one year high of $278.15. The company has a market capitalization of $109.83 billion, a price-to-earnings ratio of 144.00 and a beta of 1.70. The business has a 50-day moving average price of $236.11 and a two-hundred day moving average price of $206.45. The company has a current ratio of 2.07, a quick ratio of 1.72 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%. The firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter in the previous year, the company earned ($0.38) earnings per share. The firm's quarterly revenue was up 24.9% compared to the same quarter last year. Sell-side analysts predict that DoorDash will post 2.22 EPS for the current year.

Insider Transactions at DoorDash

In related news, Director Andy Fang sold 30,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $247.04, for a total value of $7,411,200.00. Following the completion of the sale, the director directly owned 22,545 shares in the company, valued at approximately $5,569,516.80. This represents a 57.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Shona L. Brown sold 825 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $250.00, for a total transaction of $206,250.00. Following the completion of the sale, the director owned 43,477 shares of the company's stock, valued at $10,869,250. This represents a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 583,537 shares of company stock valued at $133,720,004 in the last three months. 5.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DASH. Vanguard Group Inc. lifted its position in DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after acquiring an additional 8,073,882 shares during the last quarter. Capital World Investors lifted its position in DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after acquiring an additional 2,538,160 shares during the last quarter. AQR Capital Management LLC lifted its position in DoorDash by 442.5% during the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock worth $321,799,000 after acquiring an additional 1,497,636 shares during the last quarter. Invesco Ltd. lifted its position in DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after acquiring an additional 1,416,194 shares during the last quarter. Finally, Nuveen LLC acquired a new position in DoorDash during the 1st quarter worth $211,415,000. Institutional investors and hedge funds 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.