DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Citigroup Analyst Says

DoorDash (NASDAQ:DASH) had its price objective raised by Citigroup from $155.00 to $211.00 in a research note released on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. Loop Capital raised their target price on DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Needham & Company LLC raised their price target on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of DoorDash in a research report on Friday, August 2nd. Piper Sandler increased their target price on shares of DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets boosted their price target on shares of DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.06.

DoorDash Stock Performance

DASH stock opened at $180.48 on Wednesday. DoorDash has a 1 year low of $92.58 and a 1 year high of $181.30. The stock has a market capitalization of $74.97 billion, a price-to-earnings ratio of -399.82, a PEG ratio of 13.72 and a beta of 1.67. The stock’s fifty day moving average is $157.29 and its two-hundred day moving average is $130.64.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the firm posted ($0.19) EPS. DoorDash’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, analysts predict that DoorDash will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. The trade was a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stanley Tang sold 1,855 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $315,312.90. Following the completion of the transaction, the director now owns 35,413 shares in the company, valued at approximately $6,019,501.74. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 654,596 shares of company stock valued at $104,128,585. Corporate insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several institutional investors and hedge funds have recently modified their holdings of DASH. Rakuten Securities Inc. boosted its position in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of DoorDash during the 2nd quarter worth about $32,000. Meeder Asset Management Inc. raised its stake in shares of DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares during the last quarter. Finally, Quest Partners LLC grew its stake in shares of DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.