DoorDash (NYSE:DASH - Get Rating) had its target price raised by analysts at Needham & Company LLC from $100.00 to $115.00 in a research note issued to investors on Friday, The Fly reports. Needham & Company LLC's price objective would indicate a potential upside of 43.23% from the stock's current price.
A number of other equities research analysts have also recently commented on the company. Raymond James started coverage on DoorDash in a research note on Monday, June 6th. They issued a "market perform" rating on the stock. DA Davidson dropped their price objective on DoorDash from $135.00 to $82.00 and set a "neutral" rating on the stock in a research report on Friday, June 3rd. Royal Bank of Canada increased their price objective on DoorDash from $94.00 to $100.00 in a research report on Friday. Barclays increased their price objective on DoorDash from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, JMP Securities dropped their price objective on DoorDash from $200.00 to $150.00 and set a "buy" rating on the stock in a research report on Thursday, June 2nd. Ten investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, DoorDash has a consensus rating of "Moderate Buy" and an average target price of $136.62.
DoorDash Trading Down 1.3 %
DASH traded down $1.07 during trading on Friday, reaching $80.29. The stock had a trading volume of 18,145,143 shares, compared to its average volume of 5,983,402. DoorDash has a one year low of $56.67 and a one year high of $257.25. The company has a market capitalization of $28.20 billion, a price-to-earnings ratio of -52.48 and a beta of 1.18. The stock's 50 day moving average is $70.30 and its two-hundred day moving average is $87.10.
DoorDash (NYSE:DASH - Get Rating) last released its earnings results on Thursday, August 4th. The company reported ($0.72) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.33). DoorDash had a negative return on equity of 11.29% and a negative net margin of 9.97%. The company had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same period in the prior year, the company posted ($0.30) earnings per share. The company's revenue was up 30.1% on a year-over-year basis. On average, equities research analysts predict that DoorDash will post -1.64 earnings per share for the current year.
Insider Transactions at DoorDash
In other news, insider Keith Yandell sold 13,394 shares of the firm's stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $63.57, for a total value of $851,456.58. Following the transaction, the insider now owns 261,667 shares of the company's stock, valued at $16,634,171.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Keith Yandell sold 13,394 shares of DoorDash stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $63.57, for a total transaction of $851,456.58. Following the sale, the insider now owns 261,667 shares of the company's stock, valued at approximately $16,634,171.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shona L. Brown sold 5,000 shares of DoorDash stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $69.02, for a total value of $345,100.00. Following the sale, the director now directly owns 89,656 shares in the company, valued at approximately $6,188,057.12. The disclosure for this sale can be found here. Insiders have sold 190,358 shares of company stock valued at $12,609,622 over the last quarter. 15.54% of the stock is currently owned by company insiders.
Institutional Trading of DoorDash
Several institutional investors and hedge funds have recently added to or reduced their stakes in DASH. Cambridge Investment Research Advisors Inc. grew its holdings in DoorDash by 4.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 2,954 shares of the company's stock valued at $440,000 after buying an additional 122 shares in the last quarter. Profund Advisors LLC boosted its holdings in DoorDash by 8.9% during the 4th quarter. Profund Advisors LLC now owns 1,585 shares of the company's stock valued at $236,000 after acquiring an additional 129 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in DoorDash by 22.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the company's stock valued at $63,000 after acquiring an additional 179 shares during the period. Westside Investment Management Inc. boosted its holdings in DoorDash by 19.5% during the 2nd quarter. Westside Investment Management Inc. now owns 1,410 shares of the company's stock valued at $114,884,000 after acquiring an additional 230 shares during the period. Finally, IndexIQ Advisors LLC bought a new stake in DoorDash during the 1st quarter valued at $32,000. Institutional investors own 90.64% of the company's stock.
DoorDash Company Profile
DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.
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