DoorDash, Inc. (NASDAQ:DASH – Get Free Report) rose 11.5% during mid-day trading on Monday . The company traded as high as $167.77 and last traded at $167.9590. Approximately 1,946,746 shares traded hands during trading, a decline of 60% from the average daily volume of 4,856,293 shares. The stock had previously closed at $150.58.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on DASH shares. Evercore set a $300.00 price target on shares of DoorDash in a report on Thursday, February 19th. Wells Fargo & Company boosted their price objective on shares of DoorDash from $198.00 to $200.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. TD Cowen started coverage on shares of DoorDash in a research note on Monday, April 27th. They issued a “buy” rating and a $225.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $265.00 price target on shares of DoorDash in a report on Thursday, May 7th. Finally, Roth Mkm reiterated a “neutral” rating and issued a $200.00 price target on shares of DoorDash in a research note on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $256.11.
Get Our Latest Report on DoorDash
DoorDash Price Performance
DoorDash (NASDAQ:DASH – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 earnings per share. As a group, research analysts anticipate that DoorDash, Inc. will post 2.45 EPS for the current fiscal year.
Insiders Place Their Bets
In other DoorDash news, General Counsel Tia Sherringham sold 2,743 shares of DoorDash stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $160.79, for a total value of $441,046.97. Following the completion of the transaction, the general counsel directly owned 128,216 shares of the company’s stock, valued at $20,615,850.64. The trade was a 2.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Keith Yandell sold 2,643 shares of DoorDash stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total value of $410,563.62. Following the completion of the transaction, the insider directly owned 81,106 shares of the company’s stock, valued at approximately $12,599,006.04. This represents a 3.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 68,558 shares of company stock valued at $10,914,640 over the last 90 days. Company 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 the stock. Vanguard Group Inc. raised its holdings in shares of DoorDash by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company’s stock worth $9,835,229,000 after purchasing an additional 713,571 shares during the period. SC US Ttgp LTD. boosted its position in DoorDash by 1.6% during the 4th quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company’s stock valued at $7,176,387,000 after purchasing an additional 506,358 shares during the period. Morgan Stanley boosted its position in DoorDash by 2.3% during the 4th quarter. Morgan Stanley now owns 17,536,824 shares of the company’s stock valued at $3,971,741,000 after purchasing an additional 391,596 shares during the period. State Street Corp lifted its holdings in DoorDash by 3.0% in the fourth quarter. State Street Corp now owns 15,761,072 shares of the company’s stock worth $3,569,568,000 after purchasing an additional 464,448 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of DoorDash by 32.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock valued at $3,161,234,000 after buying an additional 3,447,754 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.
DoorDash Company Profile
DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.
In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.
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