DoorDash (NASDAQ:DASH) Price Target Raised to $144.00 at Citigroup

DoorDash (NASDAQ:DASH) had its target price raised by Citigroup from $141.00 to $144.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

DASH has been the topic of several other reports. Wedbush reissued a neutral rating and set a $115.00 price target on shares of DoorDash in a research note on Thursday. Royal Bank of Canada decreased their price objective on DoorDash from $175.00 to $165.00 and set an outperform rating on the stock in a report on Thursday. Oppenheimer increased their target price on DoorDash from $140.00 to $150.00 and gave the company an outperform rating in a report on Monday. Truist Financial decreased their price target on DoorDash from $155.00 to $145.00 and set a buy rating on the stock in a research note on Thursday. Finally, Piper Sandler upgraded shares of DoorDash from an underweight rating to a neutral rating and raised their target price for the stock from $53.00 to $127.00 in a report on Friday, March 15th. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $129.96.

DoorDash Stock Down 0.4 %

NASDAQ:DASH traded down $0.50 during midday trading on Thursday, hitting $113.81. The company had a trading volume of 5,895,826 shares, compared to its average volume of 3,905,451. The company has a market capitalization of $45.98 billion, a PE ratio of -105.84, a P/E/G ratio of 14.18 and a beta of 1.78. DoorDash has a 52-week low of $60.36 and a 52-week high of $143.34. The stock’s fifty day moving average price is $132.02 and its 200-day moving average price is $109.87.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.45 billion. DoorDash had a negative return on equity of 6.38% and a negative net margin of 4.61%. The company’s revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.41) EPS. As a group, research analysts forecast that DoorDash will post 0.21 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Andy Fang sold 67,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $110.57, for a total value of $7,408,190.00. Following the completion of the transaction, the director now directly owns 40,969 shares in the company, valued at approximately $4,529,942.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Andy Fang sold 67,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $110.57, for a total transaction of $7,408,190.00. Following the completion of the sale, the director now owns 40,969 shares of the company’s stock, valued at $4,529,942.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Gordon S. Lee sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $124.50, for a total transaction of $124,500.00. Following the completion of the transaction, the chief accounting officer now owns 92,207 shares of the company’s stock, valued at $11,479,771.50. The disclosure for this sale can be found here. Insiders have sold a total of 487,782 shares of company stock valued at $64,046,807 over the last ninety days. Company insiders own 9.59% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Simplicity Solutions LLC lifted its stake in DoorDash by 7.0% during the 3rd quarter. Simplicity Solutions LLC now owns 4,375 shares of the company’s stock valued at $348,000 after acquiring an additional 285 shares during the period. SVB Wealth LLC raised its holdings in shares of DoorDash by 17.0% during the third quarter. SVB Wealth LLC now owns 10,043 shares of the company’s stock valued at $798,000 after purchasing an additional 1,458 shares during the last quarter. Xponance Inc. lifted its position in DoorDash by 4.3% during the third quarter. Xponance Inc. now owns 36,951 shares of the company’s stock valued at $2,936,000 after purchasing an additional 1,517 shares during the period. Raymond James & Associates boosted its holdings in DoorDash by 62.3% in the third quarter. Raymond James & Associates now owns 12,551 shares of the company’s stock worth $997,000 after purchasing an additional 4,820 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in DoorDash by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,052,163 shares of the company’s stock worth $83,615,000 after purchasing an additional 12,872 shares during the period. 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.