DoorDash (NASDAQ:DASH) PT Raised to $137.00

DoorDash (NASDAQ:DASH) had its target price lifted by JPMorgan Chase & Co. from $111.00 to $137.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 16.86% from the company’s current price.

DASH has been the subject of several other research reports. Oppenheimer raised their target price on DoorDash from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. JMP Securities restated a “market outperform” rating and set a $140.00 price target on shares of DoorDash in a research report on Thursday, July 18th. KeyCorp began coverage on DoorDash in a research report on Thursday, July 11th. They set a “sector weight” rating for the company. Redburn Atlantic began coverage on DoorDash in a research report on Friday, July 26th. They set a “buy” rating and a $170.00 price target for the company. Finally, Wells Fargo & Company raised their price target on DoorDash from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $142.38.

DoorDash Stock Performance

NASDAQ:DASH opened at $117.23 on Friday. The stock has a 50 day moving average price of $109.35 and a 200 day moving average price of $118.35. The stock has a market cap of $47.94 billion, a PE ratio of -108.55, a P/E/G ratio of 40.25 and a beta of 1.67. DoorDash has a one year low of $69.90 and a one year high of $143.34.

DoorDash (NASDAQ:DASH) last posted its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.28). The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative return on equity of 6.00% and a negative net margin of 4.24%. DoorDash’s revenue was up 23.3% compared to the same quarter last year. During the same period last year, the business earned ($0.44) EPS. As a group, analysts predict that DoorDash will post 0.07 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total value of $746,480.00. Following the completion of the sale, the chief financial officer now directly owns 417,223 shares of the company’s stock, valued at approximately $44,492,660.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total value of $746,480.00. Following the completion of the sale, the chief financial officer now directly owns 417,223 shares of the company’s stock, valued at approximately $44,492,660.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shona L. Brown sold 1,712 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $110.97, for a total value of $189,980.64. Following the completion of the sale, the director now directly owns 70,191 shares of the company’s stock, valued at $7,789,095.27. The disclosure for this sale can be found here. In the last three months, insiders sold 459,016 shares of company stock valued at $50,325,396. Insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Privium Fund Management UK Ltd purchased a new stake in DoorDash during the 2nd quarter valued at approximately $667,000. Rhumbline Advisers raised its stake in DoorDash by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 409,866 shares of the company’s stock valued at $44,585,000 after acquiring an additional 13,639 shares during the last quarter. Versor Investments LP purchased a new stake in DoorDash during the 2nd quarter valued at approximately $1,267,000. CIBC Asset Management Inc raised its stake in DoorDash by 5.1% during the 2nd quarter. CIBC Asset Management Inc now owns 72,823 shares of the company’s stock valued at $7,922,000 after acquiring an additional 3,529 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in DoorDash by 584.7% during the 2nd quarter. Natixis Advisors LLC now owns 342,103 shares of the company’s stock valued at $37,214,000 after acquiring an additional 292,139 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

About DoorDash

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.