DoorDash (NASDAQ:DASH) Shares Gap Up to $127.43

DoorDash, Inc. (NASDAQ:DASHGet Free Report)’s share price gapped up prior to trading on Monday . The stock had previously closed at $127.43, but opened at $132.01. DoorDash shares last traded at $132.41, with a volume of 1,735,629 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DASH. The Goldman Sachs Group lifted their price target on DoorDash from $109.00 to $122.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Mizuho upped their price target on DoorDash from $140.00 to $152.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Needham & Company LLC reiterated a “buy” rating and set a $133.00 price objective on shares of DoorDash in a research note on Tuesday, February 6th. Jefferies Financial Group upgraded DoorDash from a “hold” rating to a “buy” rating and upped their price objective for the stock from $90.00 to $130.00 in a research note on Monday, January 8th. Finally, Truist Financial upped their price objective on DoorDash from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.32.

Get Our Latest Research Report on DASH

DoorDash Stock Performance

The firm’s fifty day simple moving average is $109.25 and its 200 day simple moving average is $93.62. The firm has a market cap of $53.55 billion, a P/E ratio of -92.20, a P/E/G ratio of 52.60 and a beta of 1.77.

DoorDash (NASDAQ:DASHGet Free Report) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.24). DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the company earned ($0.63) EPS. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, equities research analysts predict that DoorDash, Inc. will post 0.06 earnings per share for the current year.

Insider Activity at DoorDash

In related news, Director Stanley Tang sold 93,000 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $98.32, for a total value of $9,143,760.00. Following the completion of the transaction, the director now owns 40,304 shares of the company’s stock, valued at approximately $3,962,689.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Andy Fang sold 67,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $110.57, for a total value of $7,408,190.00. Following 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stanley Tang sold 93,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $98.32, for a total transaction of $9,143,760.00. Following the transaction, the director now directly owns 40,304 shares in the company, valued at $3,962,689.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 474,584 shares of company stock valued at $49,171,330. Insiders own 9.59% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Institutional investors and hedge funds have recently made changes to their positions in the stock. Newlands Management Operations LLC increased its holdings in DoorDash by 94.8% in the second quarter. Newlands Management Operations LLC now owns 7,050,680 shares of the company’s stock valued at $538,813,000 after buying an additional 3,430,729 shares in the last quarter. Norges Bank acquired a new position in DoorDash in the 4th quarter valued at about $132,721,000. Vanguard Group Inc. boosted its holdings in DoorDash by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after purchasing an additional 2,259,976 shares during the last quarter. Capital World Investors lifted its holdings in shares of DoorDash by 29.6% in the 2nd quarter. Capital World Investors now owns 7,994,552 shares of the company’s stock worth $610,944,000 after acquiring an additional 1,827,676 shares during the last quarter. Finally, Amundi increased its stake in DoorDash by 1,801.6% during the 4th quarter. Amundi now owns 1,797,416 shares of the company’s stock worth $93,106,000 after buying an additional 1,702,894 shares during the period. 75.84% of the stock is currently owned by institutional investors and hedge funds.

About DoorDash

(Get Free Report)

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.

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