Jefferies Financial Group Raises DoorDash (NASDAQ:DASH) Price Target to $265.00

Key Points

• Jefferies Financial Group has raised DoorDash's price target to $265.00, indicating a potential upside of 2.24% from its current price, while maintaining a "hold" rating on the stock.
• Several other firms, including Oppenheimer and Benchmark, have also increased their price targets for DoorDash, with some assigning "buy" ratings, reflecting growing optimism within the investment community.
• DoorDash reported a significant earnings beat with an EPS of $0.65 for the last quarter, exceeding estimates and showing a 24.9% year-over-year revenue growth.

DoorDash (NASDAQ:DASH - Get Free Report) had its price target hoisted by equities research analysts at Jefferies Financial Group from $250.00 to $265.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "hold" rating on the stock. Jefferies Financial Group's price objective would indicate a potential upside of 2.24% from the company's current price.

DASH has been the subject of several other reports. Oppenheimer raised their target price on shares of DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a research note on Thursday. UBS Group increased their price objective on shares of DoorDash from $260.00 to $280.00 and gave the company a "neutral" rating in a research report on Thursday. Benchmark raised their target price on shares of DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday. Needham & Company LLC lifted their price objective on shares of DoorDash from $230.00 to $300.00 and gave the company a "buy" rating in a report on Thursday. Finally, Wedbush reissued a "neutral" rating on shares of DoorDash in a research report on Friday. Twelve investment 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $261.53.

DoorDash Stock Down 4.4%

DASH opened at $259.19 on Monday. DoorDash has a twelve month low of $121.44 and a twelve month high of $278.15. The stock has a market capitalization of $109.83 billion, a price-to-earnings ratio of 144.00 and a beta of 1.70. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $236.11 and a 200-day moving average price of $206.81.

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

Insider Activity

In other news, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the sale, the director owned 26,070 shares of the company's stock, valued at $6,274,788.30. This represents a 63.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andy Fang sold 30,000 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $217.52, for a total transaction of $6,525,600.00. Following the sale, the director directly owned 22,545 shares of the company's stock, valued at $4,903,988.40. The trade was a 57.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 583,537 shares of company stock valued at $133,720,004. 5.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoorDash

A number of large investors have recently modified their holdings of the business. Symphony Financial Ltd. Co. purchased a new stake in shares of DoorDash in the second quarter valued at about $47,832,000. Westpac Banking Corp grew its holdings in shares of DoorDash by 165.3% in the second quarter. Westpac Banking Corp now owns 16,672 shares of the company's stock valued at $4,110,000 after purchasing an additional 10,387 shares during the period. Integrated Quantitative Investments LLC purchased a new position in DoorDash during the second quarter worth about $1,091,000. Citizens Financial Group Inc. RI boosted its stake in DoorDash by 43.7% during the second quarter. Citizens Financial Group Inc. RI now owns 25,539 shares of the company's stock worth $6,296,000 after buying an additional 7,761 shares during the period. Finally, Keyvantage Wealth LLC purchased a new position in DoorDash during the second quarter worth about $210,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

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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