Stifel Nicolaus Raises DoorDash (NASDAQ:DASH) Price Target to $214.00

Key Points

• Stifel Nicolaus has increased DoorDash's price target from $198.00 to $214.00, maintaining a "hold" rating, indicating a potential downside from the stock's recent close.
• The current average target price for DoorDash, following upgrades from multiple analysts, is approximately $233.68, with a consensus rating of "Moderate Buy."
• Insider activity shows significant selling, with notable transactions by directors resulting in a collective reduction of over 470,000 shares in the last quarter.

DoorDash (NASDAQ:DASH - Free Report) had its price objective boosted by Stifel Nicolaus from $198.00 to $214.00 in a research report report published on Tuesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

DASH has been the topic of several other reports. Needham & Company LLC boosted their price target on shares of DoorDash from $225.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Royal Bank Of Canada reissued an "outperform" rating and issued a $230.00 target price on shares of DoorDash in a report on Wednesday, May 7th. Wedbush reiterated an "outperform" rating on shares of DoorDash in a research report on Wednesday, May 7th. Morgan Stanley reaffirmed an "overweight" rating and issued a $275.00 price objective (up from $220.00) on shares of DoorDash in a research note on Monday, July 21st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $260.00 price objective (up from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, DoorDash currently has an average rating of "Moderate Buy" and a consensus price target of $235.56.

DoorDash Price Performance

Shares of DoorDash stock traded up $4.80 on Tuesday, hitting $248.00. 2,622,584 shares of the company's stock traded hands, compared to its average volume of 2,720,498. DoorDash has a one year low of $105.91 and a one year high of $250.71. The stock has a market capitalization of $105.09 billion, a PE ratio of 322.08 and a beta of 1.70. The firm's 50-day moving average price is $228.81 and its two-hundred day moving average price is $202.36.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating 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 firm had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.10 billion. During the same period in the prior year, the firm earned ($0.06) EPS. The business's revenue was up 20.7% on a year-over-year basis. On average, analysts forecast that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other news, COO Prabir Adarkar sold 30,000 shares of DoorDash stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $243.02, for a total transaction of $7,290,600.00. Following the transaction, the chief operating officer owned 942,554 shares in the company, valued at approximately $229,059,473.08. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction on Friday, July 25th. The shares were sold at an average price of $244.78, for a total value of $348,811.50. Following the transaction, the chief financial officer owned 244,905 shares in the company, valued at $59,947,845.90. This represents a 0.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 508,189 shares of company stock valued at $115,099,939 over the last ninety days. Company insiders own 5.83% of the company's stock.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently modified their holdings of the stock. Brighton Jones LLC lifted its holdings in DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after acquiring an additional 1,807 shares in the last quarter. LPL Financial LLC boosted its position in shares of DoorDash by 23.0% during the 4th quarter. LPL Financial LLC now owns 75,192 shares of the company's stock worth $12,613,000 after purchasing an additional 14,037 shares in the last quarter. Prudential Financial Inc. increased its stake in DoorDash by 1.4% in the 4th quarter. Prudential Financial Inc. now owns 12,181 shares of the company's stock valued at $2,043,000 after buying an additional 165 shares during the last quarter. Blair William & Co. IL boosted its holdings in DoorDash by 18.2% in the 4th quarter. Blair William & Co. IL now owns 4,304 shares of the company's stock worth $722,000 after buying an additional 664 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its holdings in DoorDash by 11.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 9,163 shares of the company's stock valued at $1,537,000 after purchasing an additional 957 shares during the period. 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.