DoorDash (NASDAQ:DASH) Given New $335.00 Price Target at JMP Securities

Key Points

• JMP Securities has raised its price target for DoorDash to $335.00, suggesting a potential upside of 23.91% from the current price, and maintaining a "market outperform" rating on the stock.
• In recent assessments, analysts have shown optimism for DoorDash, with a majority giving it a "buy" rating; the average price target across analysts stands at $242.56.
• DoorDash reported better-than-expected earnings last quarter, with $0.65 EPS, surpassing estimates and showcasing a year-over-year revenue increase of 24.9%.

DoorDash (NASDAQ:DASH - Free Report) had its price objective lifted by JMP Securities from $250.00 to $335.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

Other analysts have also issued reports about the stock. Jefferies Financial Group reissued a "hold" rating and set a $250.00 target price (up from $235.00) on shares of DoorDash in a research note on Tuesday, July 15th. Oppenheimer upped their target price on shares of DoorDash from $220.00 to $280.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th. Bank of America lifted their price target on shares of DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Loop Capital reiterated a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. Finally, Wedbush restated an "outperform" rating on shares of DoorDash in a report on Wednesday, May 7th. Twelve investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, DoorDash presently has an average rating of "Moderate Buy" and a consensus price target of $259.18.

DoorDash Trading Down 4.4%

NASDAQ DASH traded down $11.80 on Thursday, hitting $259.19. 5,340,842 shares of the stock were exchanged, compared to its average volume of 3,280,438. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.72 and a current ratio of 2.07. DoorDash has a 52-week low of $121.44 and a 52-week high of $278.15. The firm has a market capitalization of $109.83 billion, a P/E ratio of 144.00 and a beta of 1.70. The stock has a fifty day moving average price of $236.11 and a two-hundred day moving average price of $206.45.

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

Insiders Place Their Bets

In related news, Director Andy Fang sold 30,000 shares of the business'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 transaction, the director directly owned 22,545 shares in the company, valued at $4,903,988.40. The trade was a 57.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Prabir Adarkar sold 62,267 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $202.67, for a total value of $12,619,652.89. Following the transaction, the chief operating officer owned 942,554 shares in the company, valued at approximately $191,027,419.18. This trade represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 583,537 shares of company stock valued at $133,720,004 in the last 90 days. Corporate insiders own 5.83% of the company's stock.

Institutional Trading of DoorDash

Several large investors have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC acquired a new position in DoorDash in the 1st quarter worth about $7,200,000. Brighton Jones LLC increased its stake in DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after buying an additional 1,807 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in DoorDash by 14.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock worth $299,000 after buying an additional 206 shares in the last quarter. GAMMA Investing LLC increased its stake in DoorDash by 70.4% during the 1st quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock worth $351,000 after buying an additional 794 shares in the last quarter. Finally, Park Avenue Securities LLC increased its stake in DoorDash by 9.3% during the 1st quarter. Park Avenue Securities LLC now owns 10,017 shares of the company's stock worth $1,831,000 after buying an additional 850 shares in the last quarter. 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.