DoorDash, Inc. (NASDAQ:DASH) Receives $252.89 Average Price Target from Brokerages

Shares of DoorDash, Inc. (NASDAQ:DASH) have received a consensus recommendation of “Moderate Buy” from the thirty-five research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, twenty-four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $252.8889.

Several equities research analysts recently weighed in on DASH shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 price target on shares of DoorDash in a research note on Thursday, May 7th. Weiss Ratings upgraded shares of DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Guggenheim reissued a “buy” rating and issued a $255.00 price target on shares of DoorDash in a research report on Tuesday, June 23rd. Citigroup restated a “market outperform” rating on shares of DoorDash in a research note on Monday, June 22nd. Finally, Truist Financial reduced their price objective on DoorDash from $340.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, May 7th.

Insiders Place Their Bets

In related news, General Counsel Tia Sherringham sold 2,743 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $160.79, for a total transaction of $441,046.97. Following the completion of the sale, the general counsel owned 128,216 shares of the company’s stock, valued at $20,615,850.64. This trade represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the completion of the transaction, the chief operating officer directly owned 959,076 shares in the company, valued at $148,896,549. This trade represents a 2.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 74,927 shares of company stock valued at $13,241,532. 5.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in shares of DoorDash during the fourth quarter valued at $1,093,650,000. Wellington Management Group LLP increased its holdings in DoorDash by 593.1% in the 4th quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock worth $1,241,494,000 after buying an additional 4,690,744 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in DoorDash by 32.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after buying an additional 3,447,754 shares during the last quarter. Janus Henderson Group PLC lifted its stake in DoorDash by 40.2% during the 1st quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock valued at $1,159,377,000 after acquiring an additional 2,225,954 shares during the period. Finally, Coatue Management LLC boosted its holdings in shares of DoorDash by 77.8% during the 4th quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock valued at $988,668,000 after acquiring an additional 1,910,488 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of DASH opened at $195.52 on Wednesday. The company has a 50-day simple moving average of $173.47 and a two-hundred day simple moving average of $175.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $85.19 billion, a PE ratio of 93.11 and a beta of 1.78. DoorDash has a one year low of $143.30 and a one year high of $285.50.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 EPS. On average, analysts anticipate that DoorDash will post 2.39 EPS for the current fiscal year.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.