Oppenheimer Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price target raised by Oppenheimer from $310.00 to $350.00 in a research report sent to investors on Thursday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other equities analysts have also recently commented on DASH. Evercore ISI restated an “outperform” rating and set a $360.00 target price (up from $240.00) on shares of DoorDash in a report on Friday, August 8th. Wall Street Zen raised DoorDash from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $330.00 price target on shares of DoorDash in a research report on Wednesday, September 17th. Susquehanna increased their price target on DoorDash from $235.00 to $300.00 and gave the company a “positive” rating in a research report on Monday, August 11th. Finally, Jefferies Financial Group increased their price target on DoorDash from $250.00 to $265.00 and gave the company a “hold” rating in a research report on Monday, August 11th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average target price of $282.47.

DoorDash Stock Performance

Shares of DoorDash stock opened at $266.67 on Thursday. The business has a 50-day moving average of $259.23 and a 200 day moving average of $229.01. DoorDash has a 12 month low of $149.80 and a 12 month high of $285.50. The stock has a market capitalization of $113.92 billion, a price-to-earnings ratio of 148.15 and a beta of 1.71. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the business posted ($0.38) EPS. DoorDash’s revenue for the quarter was up 24.9% on a year-over-year basis. As a group, sell-side analysts forecast that DoorDash will post 2.22 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other news, Director Shona L. Brown sold 1,250 shares of the firm’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $277.47, for a total transaction of $346,837.50. Following the sale, the director owned 37,252 shares of the company’s stock, valued at approximately $10,336,312.44. This trade represents a 3.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andy Fang sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $268.20, for a total value of $8,046,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 993,105 shares of company stock worth $248,566,566. 5.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Saudi Central Bank acquired a new position in DoorDash during the first quarter worth approximately $25,000. WPG Advisers LLC acquired a new position in DoorDash during the first quarter worth approximately $26,000. Pacific Center for Financial Services acquired a new position in DoorDash during the first quarter worth approximately $27,000. GFG Capital LLC acquired a new position in DoorDash during the second quarter worth approximately $30,000. Finally, Harbour Investments Inc. increased its position in DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock worth $36,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Company Profile

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.