Analysts Set DoorDash, Inc. (NASDAQ:DASH) Target Price at $175.97

DoorDash, Inc. (NASDAQ:DASH) has received an average rating of “Moderate Buy” from the thirty-four ratings firms that are covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and twenty-five have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $175.97.

DASH has been the topic of several analyst reports. Needham & Company LLC lifted their target price on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. KeyCorp lifted their price target on shares of DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Truist Financial lifted their price target on shares of DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. The Goldman Sachs Group lifted their price target on shares of DoorDash from $161.00 to $192.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company lifted their price target on shares of DoorDash from $150.00 to $166.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th.

DoorDash Stock Down 0.2 %

Shares of NASDAQ DASH opened at $177.68 on Friday. DoorDash has a 52 week low of $99.32 and a 52 week high of $181.78. The firm’s fifty day moving average is $173.66 and its 200 day moving average is $147.42. The company has a market cap of $73.81 billion, a price-to-earnings ratio of -394.84, a PEG ratio of 1.80 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the firm earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. Equities research analysts anticipate that DoorDash will post 0.27 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the completion of the sale, the director now owns 16,176 shares of the company’s stock, valued at $2,722,744.32. This represents a 75.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Keith Yandell sold 7,980 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the sale, the insider now directly owns 124,221 shares of the company’s stock, valued at $21,115,085.58. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,019,333 shares of company stock valued at $177,556,541. 7.92% of the stock is owned by insiders.

Institutional Investors Weigh In On DoorDash

Several hedge funds and other institutional investors have recently made changes to their positions in DASH. Baillie Gifford & Co. increased its position in shares of DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares during the last quarter. Dragoneer Investment Group LLC raised its stake in DoorDash by 77.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after acquiring an additional 1,246,567 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in DoorDash by 216.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock valued at $154,486,000 after purchasing an additional 739,961 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of DoorDash by 14.5% in the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after purchasing an additional 700,465 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of DoorDash by 5,396.1% in the third quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock worth $94,716,000 after purchasing an additional 651,525 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.