Barclays Increases DoorDash (NASDAQ:DASH) Price Target to $230.00

DoorDash (NASDAQ:DASH) had its target price boosted by research analysts at Barclays from $220.00 to $230.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 6.35% from the stock’s current price.

A number of other brokerages also recently issued reports on DASH. Truist Financial decreased their price objective on DoorDash from $340.00 to $330.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Benchmark dropped their price objective on shares of DoorDash from $285.00 to $270.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Rothschild & Co Redburn set a $350.00 price objective on shares of DoorDash in a research report on Tuesday, May 12th. KeyCorp reduced their target price on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Finally, TD Cowen raised their target price on shares of DoorDash from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday. Twenty-three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $253.50.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $216.26 on Thursday. DoorDash has a 52-week low of $143.30 and a 52-week high of $285.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.37. The firm’s fifty day moving average is $180.65 and its two-hundred day moving average is $174.77. The company has a market cap of $94.23 billion, a P/E ratio of 113.23 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The firm had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.34 billion. DoorDash had a return on equity of 8.48% and a net margin of 5.29%.DoorDash’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share. As a group, analysts anticipate that DoorDash will post 2.4 EPS for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 19,095 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $188.04, for a total value of $3,590,623.80. Following the transaction, the chief financial officer owned 252,443 shares of the company’s stock, valued at $47,469,381.72. This represents a 7.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 67,693 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $200.63, for a total value of $13,581,246.59. Following the completion of the sale, the director owned 40,218 shares in the company, valued at approximately $8,068,937.34. The trade was a 62.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 142,620 shares of company stock worth $26,822,778 over the last quarter. 5.28% of the stock is owned by insiders.

Institutional Investors Weigh In On DoorDash

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MV Capital Management Inc. bought a new position in DoorDash in the 4th quarter worth about $26,000. Sunbelt Securities Inc. raised its stake in shares of DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after acquiring an additional 67 shares in the last quarter. Swiss RE Ltd. purchased a new stake in shares of DoorDash in the fourth quarter valued at approximately $28,000. ST Germain D J Co. Inc. purchased a new stake in shares of DoorDash in the fourth quarter valued at approximately $29,000. Finally, Morse Asset Management Inc bought a new position in DoorDash in the third quarter worth approximately $36,000. Institutional investors own 90.64% of the company’s stock.

Key Stories Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash’s second-quarter revenue increased 35.6% year over year to $4.45 billion, exceeding the $4.34 billion consensus estimate. Growth in orders, marketplaces, memberships and the Deliveroo acquisition supported the top-line beat. DoorDash Q2 Earnings Miss on Higher R&D Costs, Revenue Beat
• Positive Sentiment: Management issued stronger-than-expected third-quarter guidance, indicating that demand for food, grocery and convenience delivery remains resilient. The company also said improving growth and unit economics are helping fund investments in DashPass, merchant services, artificial intelligence and autonomous delivery. DoorDash Issues Strong Guidance as Delivery Demand Keeps Rising
• Positive Sentiment: DoorDash received FAA approval to operate commercial air-carrier services in Charlotte, clearing a regulatory hurdle for drone deliveries. The initiative could eventually improve delivery speed and economics, although its financial contribution is likely longer term. DoorDash Cleared for Takeoff with FAA Air Carrier Approval
• Positive Sentiment: Several analysts raised their price targets: Cantor Fitzgerald increased its target to $260 and maintained an overweight rating, while Needham reiterated a buy rating with a $265 target. Barclays also lifted its target to $230, though it retained an equal-weight rating. DoorDash Given New Price Target at Barclays
• Neutral Sentiment: DoorDash is positioning artificial intelligence as a growth and efficiency driver, but management said AI-generated traffic is still limited. Autonomous delivery robot deployment also faces practical challenges involving charging, loading and complex pickups. DoorDash Faces Challenges Scaling Its Dot Delivery Robot
• Negative Sentiment: Adjusted earnings of $0.46 per share fell short of expectations and declined from $0.65 a year earlier. Higher research-and-development spending is pressuring near-term profitability as DoorDash invests in technology and expansion. DoorDash Q2 Earnings Miss Estimates
• Negative Sentiment: Director Stanley Tang sold 67,693 shares worth approximately $13.6 million under a pre-arranged Rule 10b5-1 plan. While scheduled insider sales do not necessarily signal deteriorating fundamentals, the transaction reduced his position by roughly 63%. Stanley Tang Sells DoorDash Shares

About DoorDash

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.