Analysts Set DoorDash, Inc. (NASDAQ:DASH) Price Target at $256.11

Shares of DoorDash, Inc. (NASDAQ:DASH) have received a consensus recommendation of “Moderate Buy” from the thirty-six ratings firms that are currently covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $256.1111.

Several research firms recently commented on DASH. Piper Sandler cut their price target on DoorDash from $220.00 to $205.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Weiss Ratings upgraded DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Moffett Nathanson set a $276.00 target price on DoorDash in a report on Wednesday, April 15th. Argus set a $190.00 target price on DoorDash in a research note on Thursday, June 11th. Finally, Rothschild & Co Redburn set a $350.00 price target on shares of DoorDash in a research report on Tuesday, May 12th.

Insider Activity at DoorDash

In other news, Director Andy Fang sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Keith Yandell sold 2,643 shares of DoorDash stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total transaction of $410,563.62. Following the sale, the insider directly owned 81,106 shares in the company, valued at approximately $12,599,006.04. The trade was a 3.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,707 shares of company stock valued at $7,113,039 over the last ninety days. Corporate insiders own 5.83% of the company’s stock.

Institutional Inflows and Outflows

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

DoorDash Stock Up 2.4%

Shares of NASDAQ DASH opened at $188.87 on Friday. DoorDash has a 12-month low of $143.30 and a 12-month high of $285.50. The stock has a market cap of $82.29 billion, a PE ratio of 89.94 and a beta of 1.78. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $165.60 and a 200 day moving average of $180.72.

DoorDash (NASDAQ:DASH) last released 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 business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The business’s revenue was up 33.1% on a year-over-year basis. During the same period last year, the company posted $0.44 EPS. As a group, sell-side analysts predict that DoorDash will post 2.41 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.