Oppenheimer Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH - Get Free Report) had its price objective upped by stock analysts at Oppenheimer from $220.00 to $280.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's target price would indicate a potential upside of 14.77% from the company's current price.

Several other equities research analysts have also recently weighed in on DASH. Raymond James Financial upgraded DoorDash from an "outperform" rating to a "strong-buy" rating and upped their price target for the company from $215.00 to $260.00 in a research report on Monday, June 23rd. Benchmark upped their target price on shares of DoorDash from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. JMP Securities raised their price target on shares of DoorDash from $225.00 to $235.00 and gave the company a "market outperform" rating in a report on Thursday, June 12th. Wall Street Zen upgraded shares of DoorDash from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Finally, Wells Fargo & Company lowered their price objective on DoorDash from $201.00 to $198.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, DoorDash presently has an average rating of "Moderate Buy" and a consensus price target of $216.09.

DoorDash Stock Performance

NASDAQ DASH traded up $1.65 during trading on Monday, hitting $243.97. 1,915,105 shares of the company's stock traded hands, compared to its average volume of 4,205,782. The stock has a market capitalization of $103.38 billion, a price-to-earnings ratio of 316.85 and a beta of 1.67. DoorDash has a 12-month low of $99.32 and a 12-month high of $244.73. The business has a 50 day moving average of $206.04 and a 200-day moving average of $191.54.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the firm earned ($0.06) EPS. DoorDash's revenue for the quarter was up 20.7% on a year-over-year basis. On average, analysts expect that DoorDash will post 2.22 EPS 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, April 1st. The stock was sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the transaction, the director now directly owns 18,285 shares of the company's stock, valued at approximately $3,313,424.85. This represents a 71.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Tony Xu sold 44,244 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $220.71, for a total value of $9,765,093.24. Following the sale, the chief executive officer now owns 520,450 shares of the company's stock, valued at approximately $114,868,519.50. This represents a 7.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 313,552 shares of company stock worth $63,965,566. 5.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DASH. AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of DoorDash during the first quarter valued at about $2,430,000. Swedbank AB increased its position in shares of DoorDash by 8.1% in the 1st quarter. Swedbank AB now owns 184,849 shares of the company's stock valued at $33,785,000 after acquiring an additional 13,794 shares during the period. Voya Investment Management LLC raised its stake in DoorDash by 215.5% in the 1st quarter. Voya Investment Management LLC now owns 83,640 shares of the company's stock worth $15,287,000 after acquiring an additional 57,130 shares during the last quarter. Strs Ohio acquired a new stake in DoorDash during the 1st quarter worth about $15,752,000. Finally, Geneos Wealth Management Inc. grew its stake in DoorDash by 14.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,069 shares of the company's stock valued at $744,000 after purchasing an additional 527 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

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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