DoorDash (NASDAQ:DASH) Given New $163.00 Price Target at Barclays

DoorDash (NASDAQ:DASH) had its price target increased by equities research analysts at Barclays from $120.00 to $163.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 5.93% from the stock’s current price.

DASH has been the subject of a number of other research reports. JMP Securities upped their price objective on shares of DoorDash from $160.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday. Jefferies Financial Group upped their price target on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Wedbush reiterated a “neutral” rating and issued a $115.00 price objective on shares of DoorDash in a report on Friday, August 2nd. KeyCorp increased their price objective on DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Benchmark lifted their target price on shares of DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.73.

DoorDash Price Performance

DASH stock traded down $2.83 during mid-day trading on Friday, hitting $153.87. 694,033 shares of the stock were exchanged, compared to its average volume of 3,828,725. The business has a fifty day moving average price of $139.86 and a 200 day moving average price of $124.05. DoorDash has a 12 month low of $83.58 and a 12 month high of $165.07. The stock has a market capitalization of $63.32 billion, a price-to-earnings ratio of -344.76, a PEG ratio of 331.02 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.46% and a negative net margin of 1.69%. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the firm posted ($0.19) EPS. DoorDash’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, equities analysts forecast that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Transactions at DoorDash

In related news, Director Shona L. Brown sold 5,005 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $120.00, for a total transaction of $600,600.00. Following the completion of the sale, the director now owns 65,186 shares of the company’s stock, valued at $7,822,320. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the transaction, the director now owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shona L. Brown sold 5,005 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $120.00, for a total transaction of $600,600.00. Following the sale, the director now directly owns 65,186 shares in the company, valued at approximately $7,822,320. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 383,710 shares of company stock worth $53,725,640. Corporate insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. grew its position in DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares during the period. Headlands Technologies LLC purchased a new position in shares of DoorDash in the 2nd quarter worth $32,000. Versant Capital Management Inc grew its holdings in shares of DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares during the period. ORG Partners LLC increased its position in DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 253 shares during the last quarter. Finally, Quest Partners LLC lifted its holdings in DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares during the period. Institutional investors own 90.64% of the company’s stock.

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.