Citigroup Increases DoorDash (NASDAQ:DASH) Price Target to $144.00

DoorDash (NASDAQ:DASH) had its price objective raised by research analysts at Citigroup from $141.00 to $144.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 26.53% from the stock’s previous close.

A number of other equities research analysts have also issued reports on DASH. The Goldman Sachs Group increased their price target on DoorDash from $109.00 to $122.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. UBS Group decreased their target price on DoorDash from $123.00 to $118.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Piper Sandler upgraded DoorDash from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $53.00 to $127.00 in a research note on Friday, March 15th. Loop Capital assumed coverage on shares of DoorDash in a research report on Friday, April 19th. They set a “buy” rating and a $170.00 price objective on the stock. Finally, Moffett Nathanson upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and upped their target price for the stock from $118.00 to $164.00 in a research report on Thursday, April 11th. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $129.96.

DoorDash Stock Down 0.4 %

NASDAQ DASH opened at $113.81 on Thursday. The company has a 50-day moving average price of $132.02 and a 200-day moving average price of $109.87. DoorDash has a 52 week low of $60.36 and a 52 week high of $143.34. The firm has a market capitalization of $45.98 billion, a P/E ratio of -105.84, a PEG ratio of 14.18 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.38%. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the prior year, the company earned ($0.41) earnings per share. The firm’s revenue was up 23.5% on a year-over-year basis. As a group, equities research analysts anticipate that DoorDash will post 0.21 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total value of $916,650.00. Following the transaction, the chief financial officer now directly owns 384,425 shares in the company, valued at approximately $50,340,453.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $130.95, for a total transaction of $916,650.00. Following the completion of the sale, the chief financial officer now directly owns 384,425 shares of the company’s stock, valued at $50,340,453.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Keith Yandell sold 3,500 shares of DoorDash stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $124.50, for a total transaction of $435,750.00. Following the completion of the transaction, the insider now directly owns 161,102 shares in the company, valued at approximately $20,057,199. The disclosure for this sale can be found here. Insiders sold a total of 487,782 shares of company stock worth $64,046,807 over the last 90 days. Company insiders own 9.59% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in DoorDash during the 4th quarter worth $264,806,000. Vanguard Group Inc. boosted its holdings in DoorDash by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after acquiring an additional 2,259,976 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of DoorDash by 294.5% during the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock worth $158,993,000 after acquiring an additional 1,200,181 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of DoorDash by 1,725.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after acquiring an additional 1,052,198 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of DoorDash by 40,319.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,039,592 shares of the company’s stock valued at $102,805,000 after purchasing an additional 1,037,020 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

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.