Mizuho Boosts DoorDash (NASDAQ:DASH) Price Target to $173.00

DoorDash (NASDAQ:DASH) had its price objective boosted by Mizuho from $162.00 to $173.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms also recently weighed in on DASH. Keefe, Bruyette & Woods raised shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target for the company in a research report on Wednesday, September 25th. Oppenheimer increased their price objective on shares of DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Benchmark upped their target price on shares of DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Redburn Atlantic initiated coverage on shares of DoorDash in a research report on Friday, July 26th. They set a “buy” rating and a $170.00 price target on the stock. Finally, Susquehanna lifted their price target on DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, August 5th. Ten research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.00.

DoorDash Price Performance

DoorDash stock opened at $153.88 on Thursday. DoorDash has a 12-month low of $69.90 and a 12-month high of $155.29. The company has a market capitalization of $62.92 billion, a price-to-earnings ratio of -142.48, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70. The firm’s fifty day moving average price is $137.76 and its 200 day moving average price is $123.50.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the firm posted ($0.44) earnings per share. The firm’s revenue was up 23.3% compared to the same quarter last year. Analysts forecast that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction on 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 owns 417,223 shares in the company, valued at $44,492,660.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Andy Fang sold 50,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the sale, the director now owns 18,089 shares in the company, valued at approximately $2,355,187.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total value of $746,480.00. Following the sale, the chief financial officer now directly owns 417,223 shares of the company’s stock, valued at approximately $44,492,660.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 390,710 shares of company stock worth $54,472,120. 7.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On DoorDash

Several hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. lifted its stake in DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares in the last quarter. Headlands Technologies LLC acquired a new position in DoorDash in the 2nd quarter worth approximately $32,000. Versant Capital Management Inc grew its position in DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 259 shares in the last quarter. ORG Partners LLC raised its stake in DoorDash by 2,108.3% during the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 253 shares during the period. Finally, Quest Partners LLC lifted its holdings in shares of DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 204 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.