Needham & Company LLC Boosts DoorDash (NASDAQ:DASH) Price Target to $230.00

DoorDash (NASDAQ:DASH - Free Report) had its target price increased by Needham & Company LLC from $225.00 to $230.00 in a report published on Wednesday morning, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. decreased their price objective on DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Cantor Fitzgerald cut their price objective on shares of DoorDash from $230.00 to $210.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group increased their target price on shares of DoorDash from $192.00 to $212.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a report on Monday, April 28th. Finally, Loop Capital increased their price objective on DoorDash from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, February 24th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to data from MarketBeat.com, DoorDash presently has a consensus rating of "Moderate Buy" and an average price target of $209.97.

DoorDash Stock Performance

DoorDash stock traded up $0.60 during midday trading on Wednesday, hitting $183.56. 3,422,208 shares of the company's stock were exchanged, compared to its average volume of 4,179,111. The company has a market cap of $77.11 billion, a PE ratio of 679.85 and a beta of 1.68. The firm has a 50-day moving average of $184.61 and a two-hundred day moving average of $180.63. DoorDash has a 12 month low of $99.32 and a 12 month high of $215.25.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. DoorDash's revenue was up 20.7% compared to the same quarter last year. During the same period last year, the company posted ($0.06) earnings per share. As a group, equities analysts expect that DoorDash will post 2.22 earnings per share for the current year.

Insider Activity at DoorDash

In other news, CFO Ravi Inukonda sold 1,425 shares of the business's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $187.22, for a total transaction of $266,788.50. Following the completion of the sale, the chief financial officer now owns 337,430 shares of the company's stock, valued at $63,173,644.60. The trade was a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andy Fang sold 1,398 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $284,423.10. Following the completion of the transaction, the director now directly owns 14,778 shares in the company, valued at $3,006,584.10. This represents a 8.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,573 shares of company stock worth $30,407,073 in the last 90 days. Corporate insiders own 7.92% of the company's stock.

Institutional Investors Weigh In On DoorDash

Several large investors have recently bought and sold shares of DASH. Swedbank AB increased its position in shares of DoorDash by 3.3% during the fourth quarter. Swedbank AB now owns 171,055 shares of the company's stock worth $28,694,000 after purchasing an additional 5,539 shares in the last quarter. LVW Advisors LLC acquired a new stake in DoorDash during the 4th quarter worth $236,000. Retireful LLC grew its holdings in shares of DoorDash by 121.4% during the fourth quarter. Retireful LLC now owns 9,621 shares of the company's stock worth $1,614,000 after buying an additional 5,275 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of DoorDash in the fourth quarter valued at about $240,000. Finally, Merit Financial Group LLC purchased a new position in shares of DoorDash in the fourth quarter worth about $503,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.