Oppenheimer Increases DoorDash (NASDAQ:DASH) Price Target to $150.00

DoorDash (NASDAQ:DASH) had its price target upped by equities researchers at Oppenheimer from $140.00 to $150.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 16.05% from the company’s current price.

Several other equities research analysts have also recently issued reports on DASH. Wells Fargo & Company raised their target price on DoorDash from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Wedbush upped their target price on shares of DoorDash from $92.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Truist Financial lifted their price target on shares of DoorDash from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Susquehanna upped their price objective on shares of DoorDash from $110.00 to $135.00 and gave the stock a “positive” rating in a report on Tuesday, February 20th. Finally, Morgan Stanley upgraded shares of DoorDash from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $135.00 to $145.00 in a report on Thursday, February 22nd. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and a consensus target price of $130.92.

DoorDash Trading Down 2.2 %

Shares of DASH stock opened at $129.26 on Monday. DoorDash has a twelve month low of $60.36 and a twelve month high of $143.34. The company’s 50-day moving average price is $131.63 and its 200-day moving average price is $109.34. The stock has a market cap of $52.22 billion, a price-to-earnings ratio of -90.39, a PEG ratio of 14.70 and a beta of 1.79.

DoorDash (NASDAQ:DASH) last posted its earnings results on Thursday, February 15th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.24). The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.25 billion. DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.63) earnings per share. As a group, equities research analysts predict that DoorDash will post 0.21 EPS for the current year.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 132,300 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $131.96, for a total value of $17,458,308.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Andy Fang sold 67,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $110.57, for a total value of $7,408,190.00. Following the completion of the sale, the director now directly owns 40,969 shares of the company’s stock, valued at approximately $4,529,942.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony Xu sold 132,300 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total value of $17,458,308.00. The disclosure for this sale can be found here. In the last three months, insiders sold 492,282 shares of company stock valued at $64,336,392. Insiders own 9.59% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Versor Investments LP purchased a new position in shares of DoorDash in the 3rd quarter valued at approximately $556,000. Assenagon Asset Management S.A. grew its position in DoorDash by 1,725.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after buying an additional 1,052,198 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in DoorDash in the 4th quarter valued at $769,000. Angeles Investment Advisors LLC purchased a new position in DoorDash during the 3rd quarter worth $336,000. Finally, Bank of Nova Scotia lifted its stake in shares of DoorDash by 685.9% in the 3rd quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock worth $3,715,000 after acquiring an additional 40,802 shares during the period. 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.