Jefferies Financial Group Raises DoorDash (NASDAQ:DASH) Price Target to $225.00

Key Points

• Jefferies Financial Group raised its price target on DoorDash from $220 to $225 and maintained a buy rating, implying about 18.7% upside from the previous close.
• Analyst sentiment remains constructive overall, with DoorDash carrying an average Moderate Buy rating and a consensus price target of $254.69. Several firms, including Goldman Sachs, Citigroup, BTIG, and Argus, have recently reiterated or adjusted their views.
• DoorDash shares opened at $189.57, and the company recently reported Q1 earnings of $0.42 per share, beating estimates, while revenue rose 33.1% year over year. Insider selling also continued, including a large sale by Director Stanley Tang.

DoorDash (NASDAQ:DASH - Get Free Report) had its price objective hoisted by equities research analysts at Jefferies Financial Group from $220.00 to $225.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Jefferies Financial Group's price target would indicate a potential upside of 18.69% from the company's previous close.

Other analysts have also issued reports about the stock. The Goldman Sachs Group set a $280.00 target price on shares of DoorDash in a research note on Thursday, May 7th. Citigroup reissued a "market outperform" rating on shares of DoorDash in a research note on Monday, June 22nd. Weiss Ratings raised DoorDash from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. BTIG Research reduced their target price on DoorDash from $280.00 to $225.00 and set a "buy" rating for the company in a report on Friday, June 12th. Finally, Argus set a $190.00 price target on DoorDash in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $254.69.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $189.57 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The firm's 50-day moving average price is $168.18 and its two-hundred day moving average price is $178.57. DoorDash has a 52-week low of $143.30 and a 52-week high of $285.50. The stock has a market capitalization of $82.60 billion, a P/E ratio of 90.27 and a beta of 1.78.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business's quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. As a group, sell-side analysts forecast that DoorDash will post 2.41 earnings per share for the current year.

Insider Transactions at DoorDash

In related news, Director Stanley Tang sold 23,125 shares of DoorDash stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $191.19, for a total transaction of $4,421,268.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of DoorDash stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the transaction, the general counsel directly owned 128,216 shares in the company, valued at approximately $20,615,850.64. This represents a 2.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 84,927 shares of company stock valued at $15,124,932 over the last 90 days. Corporate insiders own 5.83% of the company's stock.

Hedge Funds Weigh In On DoorDash

Several institutional investors have recently modified their holdings of DASH. Eastern Bank lifted its stake in DoorDash by 714.3% in the fourth quarter. Eastern Bank now owns 114 shares of the company's stock valued at $26,000 after buying an additional 100 shares in the last quarter. MV Capital Management Inc. bought a new stake in shares of DoorDash during the fourth quarter worth $26,000. Swiss RE Ltd. acquired a new stake in shares of DoorDash during the fourth quarter worth $28,000. ST Germain D J Co. Inc. bought a new stake in DoorDash in the 4th quarter valued at $29,000. Finally, Kemnay Advisory Services Inc. bought a new stake in DoorDash in the 4th quarter valued at $32,000. Institutional investors own 90.64% of the company's stock.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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