DoorDash (NASDAQ:DASH) Price Target Raised to $137.00

DoorDash (NASDAQ:DASH) had its price objective upped by JPMorgan Chase & Co. from $111.00 to $137.00 in a research note published on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also weighed in on DASH. Truist Financial lowered their price target on shares of DoorDash from $155.00 to $145.00 and set a buy rating for the company in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of DoorDash from $140.00 to $155.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Citigroup increased their price target on shares of DoorDash from $141.00 to $144.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Royal Bank of Canada lowered their price objective on DoorDash from $175.00 to $165.00 and set an outperform rating for the company in a report on Thursday, May 2nd. Finally, Wells Fargo & Company increased their target price on DoorDash from $100.00 to $125.00 and gave the stock an equal weight rating in a report on Thursday, April 4th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $142.81.

DoorDash Price Performance

NASDAQ DASH traded up $0.66 during mid-day trading on Friday, hitting $117.89. The company’s stock had a trading volume of 6,795,261 shares, compared to its average volume of 4,078,355. The firm has a market capitalization of $48.21 billion, a P/E ratio of -110.39, a price-to-earnings-growth ratio of 40.25 and a beta of 1.67. DoorDash has a 52-week low of $69.90 and a 52-week high of $143.34. The stock’s fifty day simple moving average is $109.35 and its two-hundred day simple moving average is $118.46.

DoorDash (NASDAQ:DASH) last announced 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 net margin of 4.24% and a negative return on equity of 6.00%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the company posted ($0.44) earnings per share. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, equities analysts forecast that DoorDash will post 0.07 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 131,590 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $111.61, for a total value of $14,686,759.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $113.40, for a total transaction of $5,670,000.00. Following the completion of the sale, the director now owns 39,275 shares in the company, valued at approximately $4,453,785. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 131,590 shares of DoorDash stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $111.61, for a total transaction of $14,686,759.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 459,016 shares of company stock valued at $50,325,396. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DASH. Raymond James & Associates raised its stake in shares of DoorDash by 25.9% during the fourth quarter. Raymond James & Associates now owns 15,805 shares of the company’s stock worth $1,563,000 after buying an additional 3,254 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of DoorDash by 55.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 19,866 shares of the company’s stock worth $1,965,000 after acquiring an additional 7,077 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of DoorDash by 3,072.2% in the fourth quarter. Global Retirement Partners LLC now owns 571 shares of the company’s stock valued at $59,000 after purchasing an additional 553 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of DoorDash by 0.7% during the 4th quarter. Arizona State Retirement System now owns 72,046 shares of the company’s stock worth $7,125,000 after buying an additional 535 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of DoorDash by 11.9% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 37,861 shares of the company’s stock valued at $3,764,000 after buying an additional 4,033 shares during the last quarter. 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.