DoorDash (NASDAQ:DASH) Price Target Raised to $192.00 at The Goldman Sachs Group

DoorDash (NASDAQ:DASH) had its price objective raised by research analysts at The Goldman Sachs Group from $161.00 to $192.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 11.58% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Thursday, September 19th. Benchmark raised their price target on shares of DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Loop Capital boosted their price objective on DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped their target price on shares of DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Morgan Stanley raised their price objective on DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.97.

DoorDash Trading Up 0.5 %

Shares of NASDAQ:DASH traded up $0.89 on Thursday, reaching $172.08. 601,793 shares of the company’s stock were exchanged, compared to its average volume of 2,243,996. The company has a fifty day moving average of $173.54 and a 200-day moving average of $145.09. The company has a market capitalization of $71.48 billion, a price-to-earnings ratio of -382.40, a PEG ratio of 1.77 and a beta of 1.71. DoorDash has a twelve month low of $99.32 and a twelve month high of $181.78.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion during 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%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. As a group, equities research analysts forecast that DoorDash will post 0.26 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $172.67, for a total value of $8,633,500.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $3,123,427.63. The trade was a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony Xu sold 115,432 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $177.01, for a total value of $20,432,618.32. Following the sale, the chief executive officer now owns 1,500 shares in the company, valued at $265,515. The trade was a 98.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,019,321 shares of company stock valued at $177,554,465. Company insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of large investors have recently modified their holdings of DASH. LVW Advisors LLC purchased a new position in shares of DoorDash during the fourth quarter worth approximately $236,000. Aaron Wealth Advisors LLC raised its position in DoorDash by 15.3% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,425 shares of the company’s stock worth $407,000 after purchasing an additional 322 shares during the period. Moss Adams Wealth Advisors LLC purchased a new position in DoorDash in the 4th quarter worth $218,000. Kera Capital Partners Inc. bought a new stake in DoorDash in the fourth quarter worth $236,000. Finally, Merit Financial Group LLC purchased a new stake in DoorDash during the fourth quarter valued at about $503,000. 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.