DoorDash (NASDAQ:DASH) Given New $180.00 Price Target at Needham & Company LLC

DoorDash (NASDAQ:DASH) had its price objective upped by Needham & Company LLC from $145.00 to $180.00 in a research note released on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently weighed in on the stock. Barclays boosted their target price on shares of DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. BMO Capital Markets boosted their price objective on DoorDash from $127.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Wells Fargo & Company upped their price objective on DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, October 4th. Redburn Atlantic began coverage on DoorDash in a report on Friday, July 26th. They issued a “buy” rating and a $170.00 target price for the company. Finally, KeyCorp upgraded DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 price target on the stock in a report on Wednesday, September 25th. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $160.73.

DoorDash Price Performance

Shares of DASH stock traded down $0.27 during mid-day trading on Thursday, hitting $156.43. The company had a trading volume of 1,042,214 shares, compared to its average volume of 3,829,445. The company has a market capitalization of $64.38 billion, a P/E ratio of -341.93, a P/E/G ratio of 331.02 and a beta of 1.70. The stock’s 50 day moving average price is $139.86 and its 200-day moving average price is $124.05. DoorDash has a 52-week low of $83.58 and a 52-week high of $165.07.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.46% and a negative net margin of 1.69%. The business’s revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.19) earnings per share. On average, equities research analysts expect that DoorDash will post 0.01 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the transaction, the director now owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony Xu sold 81,249 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total value of $12,014,289.63. The disclosure for this sale can be found here. Insiders sold a total of 383,710 shares of company stock worth $53,725,640 over the last three months. Insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

A number of hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new stake in shares of DoorDash during the third quarter worth $54,000. Capital Performance Advisors LLP purchased a new stake in DoorDash during the 3rd quarter worth about $69,000. BloombergSen Inc. raised its position in DoorDash by 57.6% in the 3rd quarter. BloombergSen Inc. now owns 9,940 shares of the company’s stock valued at $1,419,000 after purchasing an additional 3,631 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of DoorDash by 25.0% in the 3rd quarter. Principal Financial Group Inc. now owns 90,786 shares of the company’s stock valued at $12,958,000 after buying an additional 18,155 shares during the period. Finally, Olympiad Research LP increased its stake in shares of DoorDash by 49.0% during the third quarter. Olympiad Research LP now owns 4,982 shares of the company’s stock worth $711,000 after buying an additional 1,639 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

About DoorDash

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.