DoorDash (NASDAQ:DASH) Hits New 12-Month High – Still a Buy?

Shares of DoorDash, Inc. (NASDAQ:DASH) hit a new 52-week high on Wednesday . The company traded as high as $185.38 and last traded at $184.51, with a volume of 2637573 shares. The stock had previously closed at $182.48.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their price target on DoorDash from $150.00 to $166.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. DA Davidson boosted their target price on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wolfe Research raised their price target on shares of DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Bank of America upped their price objective on shares of DoorDash from $172.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Piper Sandler increased their price objective on shares of DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $178.18.

DoorDash Stock Up 1.5 %

The firm’s 50-day simple moving average is $175.06 and its 200 day simple moving average is $150.38. The firm has a market cap of $78.33 billion, a P/E ratio of -419.04, a price-to-earnings-growth ratio of 1.85 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the business earned ($0.19) earnings per share. DoorDash’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, analysts forecast that DoorDash, Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the sale, the director now owns 18,089 shares of the company’s stock, valued at $3,123,427.63. The trade was a 73.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tony Xu sold 108,332 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total value of $18,443,523.00. Following the sale, the chief executive officer now owns 1,500 shares in the company, valued at approximately $255,375. This represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,040,758 shares of company stock worth $181,434,201 over the last ninety days. 7.92% of the stock is currently owned by company insiders.

Institutional Trading of DoorDash

Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its stake in DoorDash by 13.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 65,706 shares of the company’s stock worth $7,146,000 after purchasing an additional 7,853 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of DoorDash by 4.6% in the second quarter. Mackenzie Financial Corp now owns 18,073 shares of the company’s stock worth $1,966,000 after buying an additional 789 shares in the last quarter. Algert Global LLC bought a new stake in DoorDash during the second quarter valued at $338,000. Quarry LP purchased a new position in DoorDash during the second quarter worth about $60,000. Finally, Cetera Investment Advisers increased its stake in DoorDash by 7.2% in the 2nd quarter. Cetera Investment Advisers now owns 11,747 shares of the company’s stock worth $1,278,000 after acquiring an additional 788 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

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.