Oppenheimer Increases DoorDash (NASDAQ:DASH) Price Target to $160.00

DoorDash (NASDAQ:DASH) had its price target increased by Oppenheimer from $145.00 to $160.00 in a report issued on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

DASH has been the topic of a number of other research reports. Barclays lifted their price target on shares of DoorDash from $113.00 to $120.00 and gave the company an equal weight rating in a research report on Friday, August 2nd. Roth Mkm lifted their target price on shares of DoorDash from $118.00 to $124.00 and gave the stock a neutral rating in a report on Monday, August 5th. KeyCorp raised shares of DoorDash from a sector weight rating to an overweight rating and set a $177.00 target price for the company in a research report on Wednesday, September 25th. BTIG Research upgraded DoorDash from a neutral rating to a buy rating and set a $155.00 price objective on the stock in a research note on Thursday, September 19th. Finally, Wedbush reissued a neutral rating and set a $115.00 price objective on shares of DoorDash in a research report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, DoorDash has a consensus rating of Moderate Buy and a consensus target price of $146.44.

DoorDash Trading Up 0.4 %

DASH stock opened at $142.73 on Friday. The firm has a market cap of $58.36 billion, a PE ratio of -132.16, a PEG ratio of 295.70 and a beta of 1.69. DoorDash has a 1 year low of $69.90 and a 1 year high of $146.36. The company has a fifty day simple moving average of $125.87 and a 200 day simple moving average of $121.89.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the company posted ($0.44) EPS. The business’s revenue was up 23.3% compared to the same quarter last year. As a group, analysts forecast that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Activity at DoorDash

In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the transaction, the director now directly owns 19,982 shares of the company’s stock, valued at $2,109,499.74. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $104.96, for a total value of $5,685,263.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the sale, the director now directly owns 19,982 shares in the company, valued at $2,109,499.74. The disclosure for this sale can be found here. Insiders have sold 281,503 shares of company stock worth $33,988,063 in the last ninety days. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

A number of institutional investors and hedge funds have recently modified their holdings of DASH. Paragon Capital Management Inc. bought a new stake in shares of DoorDash during the second quarter worth approximately $1,309,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in DoorDash in the 2nd quarter valued at $3,812,000. Sanctuary Advisors LLC bought a new stake in DoorDash in the 2nd quarter valued at $779,000. Dana Investment Advisors Inc. grew its holdings in DoorDash by 7.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 38,935 shares of the company’s stock valued at $4,235,000 after buying an additional 2,692 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in DoorDash by 0.4% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 155,950 shares of the company’s stock worth $16,964,000 after buying an additional 605 shares during the period. 90.64% of the stock is owned by institutional investors.

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.