Oppenheimer Increases DoorDash (NASDAQ:DASH) Price Target to $145.00

DoorDash (NASDAQ:DASH) had its price objective upped by Oppenheimer from $125.00 to $145.00 in a research report released on Friday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

DASH has been the subject of a number of other research reports. Truist Financial lifted their price target on shares of DoorDash from $145.00 to $150.00 and gave the stock a buy rating in a research note on Friday. Wedbush reiterated a neutral rating and issued a $115.00 price target on shares of DoorDash in a research note on Friday. JMP Securities reiterated a market outperform rating and issued a $140.00 price target on shares of DoorDash in a research note on Thursday, July 18th. Wolfe Research assumed coverage on shares of DoorDash in a research note on Tuesday, July 16th. They issued an outperform rating and a $130.00 price target for the company. Finally, BMO Capital Markets decreased their price target on shares of DoorDash from $138.00 to $127.00 and set an outperform rating for the company in a research note on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, DoorDash presently has an average rating of Moderate Buy and an average target price of $141.93.

DoorDash Price Performance

Shares of NASDAQ DASH traded up $2.52 during midday trading on Friday, hitting $123.82. The company’s stock had a trading volume of 4,179,503 shares, compared to its average volume of 4,110,795. The business’s fifty day simple moving average is $109.52 and its two-hundred day simple moving average is $118.57. DoorDash has a 1 year low of $69.90 and a 1 year high of $143.34. The firm has a market capitalization of $50.63 billion, a price-to-earnings ratio of -112.54, a price-to-earnings-growth ratio of 40.25 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) 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 business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the business posted ($0.44) EPS. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. Analysts anticipate that DoorDash will post 0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, General Counsel Tia Sherringham sold 11,740 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $110.46, for a total transaction of $1,296,800.40. Following the sale, the general counsel now directly owns 183,512 shares in the company, valued at approximately $20,270,735.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $110.47, for a total transaction of $773,290.00. Following the sale, the chief financial officer now directly owns 441,851 shares in the company, valued at approximately $48,811,279.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Tia Sherringham sold 11,740 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $110.46, for a total transaction of $1,296,800.40. Following the completion of the sale, the general counsel now owns 183,512 shares in the company, valued at $20,270,735.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 459,016 shares of company stock worth $50,325,396. Corporate insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Large investors have recently added to or reduced their stakes in the business. Raymond James & Associates boosted its stake in shares of DoorDash by 25.9% during the 4th quarter. Raymond James & Associates now owns 15,805 shares of the company’s stock worth $1,563,000 after purchasing an additional 3,254 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of DoorDash by 55.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,866 shares of the company’s stock worth $1,965,000 after purchasing an additional 7,077 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of DoorDash by 3,072.2% during the 4th quarter. Global Retirement Partners LLC now owns 571 shares of the company’s stock worth $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 purchasing an additional 535 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of DoorDash by 11.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 37,861 shares of the company’s stock worth $3,764,000 after purchasing an additional 4,033 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

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.