UBS Group Boosts DoorDash (NASDAQ:DASH) Price Target to $223.00

Key Points

• UBS Group raised DoorDash’s price target to $223 from $214 while maintaining a neutral rating, implying 11.22% upside from the stock’s reported $200.50 price.
• Analyst sentiment remains broadly positive: DoorDash has a “Moderate Buy” consensus rating and an average price target of $252.72, based on 24 Buy, nine Hold, one Strong Buy and one Sell rating.
• DoorDash reported quarterly EPS of $0.42, beating estimates of $0.36, while revenue rose 33.1% year over year to $4.04 billion, slightly below the $4.15 billion consensus estimate.

DoorDash (NASDAQ:DASH - Get Free Report) had its target price lifted by analysts at UBS Group from $214.00 to $223.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price objective indicates a potential upside of 11.22% from the stock's current price.

A number of other brokerages have also recently weighed in on DASH. KeyCorp cut their price objective on shares of DoorDash from $280.00 to $275.00 and set an "overweight" rating on the stock in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of DoorDash from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, May 13th. Wells Fargo & Company dropped their price target on DoorDash from $200.00 to $199.00 and set an "equal weight" rating on the stock in a research report on Monday, July 6th. Jefferies Financial Group upped their price target on DoorDash from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Finally, DA Davidson reduced their price objective on DoorDash from $224.00 to $200.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $252.72.

DoorDash Stock Up 2.2%

DASH traded up $4.34 during trading on Monday, reaching $200.50. The stock had a trading volume of 3,437,669 shares, compared to its average volume of 4,783,709. The stock's 50 day moving average is $175.61 and its two-hundred day moving average is $174.64. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $87.36 billion, a price-to-earnings ratio of 95.48 and a beta of 1.78. DoorDash has a one year low of $143.30 and a one year high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the firm posted $0.44 earnings per share. The company's revenue for the quarter was up 33.1% on a year-over-year basis. As a group, analysts expect that DoorDash will post 2.39 earnings per share for the current year.

Insiders Place Their Bets

In other DoorDash news, General Counsel Tia Sherringham sold 2,743 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $160.79, for a total transaction of $441,046.97. Following the transaction, the general counsel owned 128,216 shares in the company, valued at approximately $20,615,850.64. This represents a 2.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of the firm's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 74,927 shares of company stock worth $13,241,532 in the last quarter. Insiders own 5.83% of the company's stock.

Institutional Investors Weigh In On DoorDash

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of DoorDash by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company's stock worth $9,835,229,000 after buying an additional 713,571 shares during the last quarter. SC US Ttgp LTD. boosted its position in DoorDash by 1.6% in the fourth quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company's stock worth $7,176,387,000 after purchasing an additional 506,358 shares during the last quarter. Morgan Stanley boosted its position in DoorDash by 2.3% in the fourth quarter. Morgan Stanley now owns 17,536,824 shares of the company's stock worth $3,971,741,000 after purchasing an additional 391,596 shares during the last quarter. State Street Corp grew its stake in shares of DoorDash by 3.0% during the 4th quarter. State Street Corp now owns 15,761,072 shares of the company's stock valued at $3,569,568,000 after purchasing an additional 464,448 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of DoorDash by 32.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company's stock valued at $3,161,234,000 after purchasing an additional 3,447,754 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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