Analysts Set DoorDash, Inc. (NASDAQ:DASH) Price Target at $279.74

Shares of DoorDash, Inc. (NASDAQ:DASH) have received a consensus recommendation of “Moderate Buy” from the thirty-seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $279.00.

DASH has been the topic of several analyst reports. Jefferies Financial Group boosted their price target on shares of DoorDash from $265.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, October 17th. BMO Capital Markets boosted their target price on DoorDash from $238.00 to $288.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Wall Street Zen lowered DoorDash from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Oppenheimer reiterated an “outperform” rating and set a $280.00 price target on shares of DoorDash in a report on Thursday, November 6th. Finally, DA Davidson reissued a “neutral” rating and issued a $260.00 price objective on shares of DoorDash in a research report on Thursday, November 6th.

Insider Activity at DoorDash

In other news, Director Andy Fang sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $243.32, for a total transaction of $7,299,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Prabir Adarkar sold 41,881 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the sale, the chief operating officer owned 914,547 shares of the company’s stock, valued at approximately $224,813,943.54. The trade was a 4.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 499,707 shares of company stock worth $127,140,411 in the last ninety days. Corporate insiders own 5.83% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several institutional investors and hedge funds have recently bought and sold shares of DASH. Vanguard Group Inc. lifted its holdings in DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock valued at $7,200,642,000 after purchasing an additional 8,073,882 shares during the last quarter. Norges Bank bought a new stake in shares of DoorDash in the second quarter valued at approximately $1,185,576,000. AQR Capital Management LLC lifted its stake in shares of DoorDash by 442.5% during the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after buying an additional 1,497,636 shares in the last quarter. Invesco Ltd. lifted its stake in shares of DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock valued at $877,269,000 after buying an additional 1,416,194 shares in the last quarter. Finally, Nuveen LLC bought a new position in DoorDash in the 1st quarter worth approximately $211,415,000. 90.64% of the stock is owned by institutional investors.

DoorDash Trading Up 0.7%

Shares of DoorDash stock opened at $212.08 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $252.45 and a 200 day simple moving average of $238.61. DoorDash has a 12-month low of $155.40 and a 12-month high of $285.50. The company has a market capitalization of $91.41 billion, a P/E ratio of 107.65 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. DoorDash’s revenue was up 27.3% compared to the same quarter last year. On average, sell-side analysts anticipate that DoorDash will post 2.22 earnings per share for the current fiscal year.

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.