Truist Financial Raises DoorDash (NASDAQ:DASH) Price Target to $150.00

DoorDash (NASDAQ:DASH) had its price objective lifted by Truist Financial from $145.00 to $150.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Roth Mkm reduced their price target on shares of DoorDash from $121.00 to $118.00 and set a neutral rating for the company in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft upped their price target on DoorDash from $140.00 to $155.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Needham & Company LLC raised their price objective on DoorDash from $137.00 to $145.00 and gave the company a buy rating in a research note on Friday. Wedbush reaffirmed a neutral rating and set a $115.00 target price on shares of DoorDash in a research report on Thursday, May 2nd. Finally, Redburn Atlantic began coverage on shares of DoorDash in a research report on Friday, July 26th. They issued a buy rating and a $170.00 price target for the company. Eleven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $141.93.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded up $2.69 during midday trading on Friday, reaching $123.99. The company’s stock had a trading volume of 4,711,825 shares, compared to its average volume of 4,112,133. DoorDash has a fifty-two week low of $69.90 and a fifty-two week high of $143.34. The firm has a 50 day moving average price of $109.52 and a two-hundred day moving average price of $118.57. The firm has a market capitalization of $50.70 billion, a price-to-earnings ratio of -112.54, a PEG ratio of 40.25 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 6.00%. DoorDash’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.44) earnings per share. As a group, research analysts anticipate that DoorDash will post 0.07 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $113.40, for a total transaction of $5,670,000.00. Following the completion of the sale, the director now directly owns 39,275 shares of the company’s stock, valued at approximately $4,453,785. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Keith Yandell sold 12,088 shares of DoorDash stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $111.84, for a total value of $1,351,921.92. Following the sale, the insider now owns 161,651 shares of the company’s stock, valued at approximately $18,079,047.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $113.40, for a total value of $5,670,000.00. Following the transaction, the director now directly owns 39,275 shares of the company’s stock, valued at $4,453,785. The disclosure for this sale can be found here. Over the last three months, insiders have sold 459,016 shares of company stock worth $50,325,396. 7.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake 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 acquiring an additional 2,259,976 shares during the period. Baillie Gifford & Co. raised its position in shares of DoorDash by 6.4% in the fourth quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock valued at $1,263,381,000 after purchasing an additional 772,977 shares during the period. Capital World Investors lifted its stake in shares of DoorDash by 0.8% during the 1st quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock valued at $1,304,242,000 after buying an additional 74,504 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in DoorDash by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock worth $753,281,000 after buying an additional 242,956 shares during the period. Finally, Janus Henderson Group PLC grew its stake in DoorDash by 11,416.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after buying an additional 3,425,115 shares in the last quarter. Hedge funds and other institutional investors 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.