Bank of America Boosts DoorDash (NASDAQ:DASH) Price Target to $205.00

DoorDash (NASDAQ:DASH) had its price objective boosted by Bank of America from $172.00 to $205.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the stock. Truist Financial upped their target price on shares of DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Piper Sandler raised their target price on DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. BMO Capital Markets boosted their price target on DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Barclays raised their price objective on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, Susquehanna lifted their price objective on DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $176.97.

DoorDash Price Performance

DASH stock opened at $183.13 on Thursday. DoorDash has a 1 year low of $99.32 and a 1 year high of $183.48. The company has a market cap of $76.07 billion, a P/E ratio of -406.96, a price-to-earnings-growth ratio of 1.88 and a beta of 1.71. The stock’s fifty day moving average price is $173.85 and its 200-day moving average price is $147.67.

DoorDash (NASDAQ:DASH) last posted its earnings results 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. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. DoorDash’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) earnings per share. As a group, analysts expect that DoorDash will post 0.27 earnings per share for the current year.

Insider Activity

In related news, CEO Tony Xu sold 115,432 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total value of $20,432,618.32. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at $265,515. This trade represents a 98.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Monday, November 18th. The stock was sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at $3,123,427.63. The trade was a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,019,333 shares of company stock valued at $177,556,541 in the last ninety days. Insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in shares of DoorDash by 2.4% in the second quarter. Envestnet Asset Management Inc. now owns 79,476 shares of the company’s stock worth $8,645,000 after buying an additional 1,828 shares during the period. Blair William & Co. IL bought a new position in DoorDash in the 2nd quarter valued at $395,000. Pacer Advisors Inc. increased its stake in DoorDash by 1.6% in the second quarter. Pacer Advisors Inc. now owns 18,927 shares of the company’s stock worth $2,059,000 after purchasing an additional 302 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of DoorDash by 74.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 54,122 shares of the company’s stock worth $5,887,000 after purchasing an additional 23,138 shares during the last quarter. Finally, Insigneo Advisory Services LLC purchased a new stake in shares of DoorDash during the second quarter valued at $223,000. 90.64% of the stock is owned by hedge funds and other 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.