DoorDash (NYSE:DASH) Price Target Increased to $115.00 by Analysts at Needham & Company LLC

DoorDash (NYSE:DASHGet Rating) had its target price increased by stock analysts at Needham & Company LLC from $100.00 to $115.00 in a research note issued to investors on Friday, The Fly reports. Needham & Company LLC’s target price indicates a potential upside of 43.23% from the company’s current price.

A number of other equities analysts have also commented on DASH. Susquehanna Bancshares decreased their price objective on shares of DoorDash from $145.00 to $100.00 in a research note on Friday, May 6th. DA Davidson cut their target price on shares of DoorDash from $135.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, June 3rd. Barclays increased their target price on shares of DoorDash from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday. JMP Securities cut their target price on shares of DoorDash from $200.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, June 2nd. Finally, Truist Financial cut their target price on shares of DoorDash from $200.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, June 2nd. Ten equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $136.62.

DoorDash Price Performance

DoorDash stock traded down $1.07 during midday trading on Friday, reaching $80.29. The stock had a trading volume of 18,145,143 shares, compared to its average volume of 5,983,402. The firm’s fifty day simple moving average is $70.30 and its two-hundred day simple moving average is $87.10. DoorDash has a twelve month low of $56.67 and a twelve month high of $257.25. The firm has a market cap of $28.20 billion, a price-to-earnings ratio of -52.48 and a beta of 1.18.

DoorDash (NYSE:DASHGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.33). DoorDash had a negative return on equity of 11.29% and a negative net margin of 9.97%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the business posted ($0.30) EPS. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. As a group, sell-side analysts predict that DoorDash will post -1.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Keith Yandell sold 13,394 shares of the business’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $63.57, for a total transaction of $851,456.58. Following the completion of the transaction, the insider now owns 261,667 shares of the company’s stock, valued at approximately $16,634,171.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Tia Sherringham sold 625 shares of the business’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $74.25, for a total transaction of $46,406.25. Following the transaction, the general counsel now directly owns 167,959 shares in the company, valued at $12,470,955.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Keith Yandell sold 13,394 shares of the business’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $63.57, for a total value of $851,456.58. Following the transaction, the insider now owns 261,667 shares in the company, valued at $16,634,171.19. The disclosure for this sale can be found here. In the last 90 days, insiders sold 190,358 shares of company stock valued at $12,609,622. Insiders own 15.54% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors grew its stake in shares of DoorDash by 82.6% in the 4th quarter. Capital Research Global Investors now owns 9,006,254 shares of the company’s stock valued at $1,341,031,000 after purchasing an additional 4,074,501 shares during the period. Hhlr Advisors LTD. grew its stake in shares of DoorDash by 199.4% in the 1st quarter. Hhlr Advisors LTD. now owns 3,881,700 shares of the company’s stock valued at $454,896,000 after purchasing an additional 2,585,400 shares during the period. Coatue Management LLC grew its stake in shares of DoorDash by 80.0% in the 1st quarter. Coatue Management LLC now owns 5,280,472 shares of the company’s stock valued at $618,819,000 after purchasing an additional 2,347,602 shares during the period. Vanguard Group Inc. grew its stake in shares of DoorDash by 18.8% in the 1st quarter. Vanguard Group Inc. now owns 12,862,889 shares of the company’s stock valued at $1,507,402,000 after purchasing an additional 2,032,637 shares during the period. Finally, Dragoneer Investment Group LLC grew its stake in shares of DoorDash by 121.2% in the 1st quarter. Dragoneer Investment Group LLC now owns 3,294,334 shares of the company’s stock valued at $386,063,000 after purchasing an additional 1,805,124 shares during the period. 90.64% of the stock is currently owned by institutional investors.

About DoorDash

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DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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