DoorDash (NASDAQ:DASH) Given New $220.00 Price Target at Wolfe Research

DoorDash (NASDAQ:DASH) had its target price boosted by equities research analysts at Wolfe Research from $210.00 to $220.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wolfe Research’s target price indicates a potential upside of 26.90% from the stock’s previous close.

DASH has been the subject of a number of other reports. Evercore ISI boosted their target price on shares of DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. UBS Group increased their target price on shares of DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. DA Davidson boosted their price target on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of DoorDash in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. lifted their price target on DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $171.42.

DoorDash Stock Performance

Shares of DoorDash stock traded up $2.72 on Friday, hitting $173.37. 229,337 shares of the company traded hands, compared to its average volume of 1,208,743. The business has a 50-day simple moving average of $170.94 and a 200 day simple moving average of $141.09. DoorDash has a 52 week low of $93.33 and a 52 week high of $181.78. The stock has a market capitalization of $72.02 billion, a P/E ratio of -385.27, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly 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. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the business posted ($0.19) earnings per share. The firm’s revenue was up 25.0% on a year-over-year basis. Research analysts expect that DoorDash will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $149.83, for a total value of $7,491,500.00. Following the completion of the sale, the director now directly owns 18,089 shares in the company, valued at $2,710,274.87. This represents a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $169.32, for a total transaction of $1,185,240.00. Following the transaction, the chief financial officer now owns 366,993 shares in the company, valued at $62,139,254.76. The trade was a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 924,362 shares of company stock valued at $156,181,429. Corporate insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its position in shares of DoorDash by 34.5% during the second quarter. Commonwealth Equity Services LLC now owns 6,275 shares of the company’s stock valued at $683,000 after acquiring an additional 1,611 shares during the last quarter. Rhumbline Advisers lifted its stake in DoorDash by 3.4% during the second quarter. Rhumbline Advisers now owns 409,866 shares of the company’s stock worth $44,585,000 after purchasing an additional 13,639 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of DoorDash by 2.5% during the second quarter. Victory Capital Management Inc. now owns 263,873 shares of the company’s stock worth $28,704,000 after buying an additional 6,459 shares during the period. Arizona State Retirement System grew its stake in shares of DoorDash by 10.0% in the second quarter. Arizona State Retirement System now owns 81,919 shares of the company’s stock valued at $8,911,000 after buying an additional 7,444 shares in the last quarter. Finally, Private Advisor Group LLC lifted its stake in DoorDash by 15.1% during the 2nd quarter. Private Advisor Group LLC now owns 17,062 shares of the company’s stock worth $1,856,000 after acquiring an additional 2,232 shares in the last quarter. 90.64% of the stock is currently 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.