DoorDash (NYSE:DASH) Price Target Raised to $100.00 at Royal Bank of Canada

DoorDash (NYSE:DASH – Get Rating) had its target price increased by Royal Bank of Canada from $94.00 to $100.00 in a research report report published on Friday morning, The Fly reports.

DASH has been the topic of a number of other research reports. Susquehanna lowered their price target on DoorDash from $145.00 to $100.00 in a research report on Friday, May 6th. Mizuho reduced their target price on DoorDash from $150.00 to $100.00 in a report on Friday, May 6th. Sanford C. Bernstein began coverage on DoorDash in a report on Monday, May 23rd. They set a top pick rating and a $90.00 target price for the company. DA Davidson reduced their target price on DoorDash from $135.00 to $82.00 and set a neutral rating for the company in a report on Friday, June 3rd. Finally, The Goldman Sachs Group began coverage on DoorDash in a report on Tuesday, June 21st. They set a neutral rating and a $67.00 target price for the company. Ten investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $136.62.

DoorDash Stock Down 1.3 %

Shares of DASH opened at $80.29 on Friday. DoorDash has a 52 week low of $56.67 and a 52 week high of $257.25. The company has a market capitalization of $28.20 billion, a price-to-earnings ratio of -41.17 and a beta of 1.18. The stock’s 50-day moving average price is $70.35 and its 200-day moving average price is $86.76.

DoorDash (NYSE:DASH – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.33). The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.52 billion. DoorDash had a negative return on equity of 14.72% and a negative net margin of 12.16%. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.30) EPS. As a group, equities analysts anticipate that DoorDash will post -1.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, COO Christopher D. Payne sold 16,770 shares of DoorDash stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $64.46, for a total transaction of $1,080,994.20. Following the completion of the sale, the chief operating officer now directly owns 387,333 shares of the company’s stock, valued at approximately $24,967,485.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other DoorDash news, COO Christopher D. Payne sold 16,770 shares of DoorDash stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $64.46, for a total transaction of $1,080,994.20. Following the completion of the sale, the chief operating officer now directly owns 387,333 shares of the company’s stock, valued at approximately $24,967,485.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shona L. Brown sold 1,250 shares of DoorDash stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $69.33, for a total value of $86,662.50. Following the sale, the director now owns 89,778 shares in the company, valued at approximately $6,224,308.74. The disclosure for this sale can be found here. Insiders sold 190,358 shares of company stock valued at $12,609,622 in the last ninety days. Insiders own 15.54% of the company’s stock.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its position in shares of DoorDash by 91.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 305,470 shares of the company’s stock worth $19,602,000 after purchasing an additional 145,954 shares in the last quarter. M&T Bank Corp increased its position in DoorDash by 10.0% in the 2nd quarter. M&T Bank Corp now owns 23,312 shares of the company’s stock valued at $1,490,000 after acquiring an additional 2,115 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in DoorDash in the 2nd quarter valued at about $1,180,000. Los Angeles Capital Management LLC increased its position in DoorDash by 0.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 80,938 shares of the company’s stock valued at $5,194,000 after acquiring an additional 320 shares during the period. Finally, Waypoint Wealth Partners Inc. purchased a new stake in DoorDash in the 2nd quarter valued at approximately $262,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Company Profile

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DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, 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; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.