DoorDash (NASDAQ:DASH) Given New $180.00 Price Target at Needham & Company LLC

DoorDash (NASDAQ:DASH) had its price target boosted by stock analysts at Needham & Company LLC from $145.00 to $180.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 15.64% from the stock’s current price.

A number of other brokerages have also recently issued reports on DASH. Susquehanna raised their target price on shares of DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, August 5th. Wedbush reaffirmed a “neutral” rating and set a $115.00 price target on shares of DoorDash in a report on Friday, August 2nd. Mizuho lifted their price target on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Piper Sandler reaffirmed a “neutral” rating and set a $125.00 price target (up previously from $115.00) on shares of DoorDash in a report on Friday, August 2nd. Finally, Redburn Atlantic started coverage on DoorDash in a report on Friday, July 26th. They set a “buy” rating and a $170.00 price target on the stock. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $163.12.

DoorDash Stock Performance

Shares of DASH stock opened at $155.66 on Thursday. The company’s 50-day simple moving average is $140.40 and its 200-day simple moving average is $124.21. DoorDash has a one year low of $83.58 and a one year high of $165.07. The stock has a market capitalization of $64.06 billion, a price-to-earnings ratio of -345.91, a PEG ratio of 331.02 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.46%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the company posted ($0.19) earnings per share. DoorDash’s revenue was up 25.0% on a year-over-year basis. As a group, research analysts forecast that DoorDash will post 0.01 EPS for the current year.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 81,249 shares of DoorDash stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total value of $12,014,289.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the transaction, the director now owns 18,089 shares in the company, valued at $2,355,187.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tony Xu sold 81,249 shares of DoorDash stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The disclosure for this sale can be found here. In the last 90 days, insiders sold 383,710 shares of company stock valued at $53,725,640. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Brighton Jones LLC raised its position in shares of DoorDash by 0.8% during the second quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock valued at $1,122,000 after buying an additional 82 shares during the last quarter. Everhart Financial Group Inc. raised its position in shares of DoorDash by 3.1% during the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after buying an additional 99 shares during the last quarter. E Fund Management Co. Ltd. raised its position in shares of DoorDash by 3.5% during the second quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock valued at $355,000 after buying an additional 111 shares during the last quarter. SJS Investment Consulting Inc. raised its position in shares of DoorDash by 21.0% during the second quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock valued at $73,000 after buying an additional 117 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its position in shares of DoorDash by 4.4% during the first quarter. Meeder Advisory Services Inc. now owns 3,006 shares of the company’s stock valued at $414,000 after buying an additional 126 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Company Profile

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.