Roth Capital Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its price target lifted by Roth Capital from $191.00 to $225.00 in a report published on Monday,Benzinga reports. Roth Capital currently has a neutral rating on the stock.

A number of other research analysts have also recently issued reports on the company. Wells Fargo & Company lifted their target price on DoorDash from $198.00 to $239.00 and gave the company an “equal weight” rating in a research report on Monday, July 7th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $230.00 target price on shares of DoorDash in a research report on Wednesday, May 7th. Oppenheimer lifted their target price on DoorDash from $220.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, June 30th. JMP Securities lifted their target price on DoorDash from $225.00 to $235.00 and gave the company a “market outperform” rating in a research report on Thursday, June 12th. Finally, JPMorgan Chase & Co. decreased their target price on DoorDash from $205.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $223.44.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $242.85 on Monday. DoorDash has a 52 week low of $99.32 and a 52 week high of $248.74. The stock has a market capitalization of $102.91 billion, a P/E ratio of 315.39 and a beta of 1.70. The stock’s fifty day moving average is $216.76 and its 200 day moving average is $196.39.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter last year, the business earned ($0.06) earnings per share. DoorDash’s revenue was up 20.7% on a year-over-year basis. Equities research analysts forecast that DoorDash will post 2.22 earnings per share for the current year.

Insider Activity

In other DoorDash news, CFO Ravi Inukonda sold 20,000 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $247.00, for a total transaction of $4,940,000.00. Following the transaction, the chief financial officer directly owned 245,530 shares in the company, valued at approximately $60,645,910. This represents a 7.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Prabir Adarkar sold 62,267 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $202.67, for a total value of $12,619,652.89. Following the transaction, the chief operating officer owned 942,554 shares in the company, valued at $191,027,419.18. The trade was a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 429,031 shares of company stock worth $94,584,086. Company insiders own 5.83% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of institutional investors and hedge funds have recently modified their holdings of the business. GeoWealth Management LLC boosted its holdings in shares of DoorDash by 3.7% during the 4th quarter. GeoWealth Management LLC now owns 1,428 shares of the company’s stock worth $240,000 after buying an additional 51 shares in the last quarter. Palo Alto Wealth Advisors LLC boosted its holdings in shares of DoorDash by 0.4% during the 1st quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company’s stock worth $2,385,000 after buying an additional 54 shares in the last quarter. SageView Advisory Group LLC boosted its holdings in shares of DoorDash by 5.1% during the 1st quarter. SageView Advisory Group LLC now owns 1,435 shares of the company’s stock worth $262,000 after buying an additional 69 shares in the last quarter. Harbour Investments Inc. raised its position in shares of DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock worth $36,000 after purchasing an additional 70 shares during the period. Finally, Coldstream Capital Management Inc. raised its position in shares of DoorDash by 5.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,661 shares of the company’s stock worth $279,000 after purchasing an additional 86 shares during the period. 90.64% of the stock is currently owned by 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.