DoorDash (NASDAQ:DASH) Given New $150.00 Price Target at Oppenheimer

DoorDash (NASDAQ:DASH) had its price objective raised by Oppenheimer from $140.00 to $150.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective suggests a potential upside of 13.54% from the stock’s current price.

A number of other research firms have also commented on DASH. UBS Group decreased their price objective on shares of DoorDash from $123.00 to $118.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. BMO Capital Markets increased their price objective on DoorDash from $120.00 to $138.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Piper Sandler upgraded DoorDash from an “underweight” rating to a “neutral” rating and upped their target price for the company from $53.00 to $127.00 in a report on Friday, March 15th. Needham & Company LLC reiterated a “buy” rating and issued a $133.00 price objective on shares of DoorDash in a research note on Tuesday, February 6th. Finally, Susquehanna lifted their target price on shares of DoorDash from $110.00 to $135.00 and gave the company a “positive” rating in a research note on Tuesday, February 20th. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average target price of $130.92.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $132.11 on Monday. The company has a market capitalization of $53.37 billion, a PE ratio of -92.38, a price-to-earnings-growth ratio of 14.70 and a beta of 1.79. The stock has a fifty day moving average of $131.30 and a 200-day moving average of $108.97. DoorDash has a one year low of $57.39 and a one year high of $143.34.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.24). DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the prior year, the business posted ($0.63) EPS. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. As a group, research analysts forecast that DoorDash will post 0.21 EPS for the current fiscal year.

Insider Activity

In related news, CFO Ravi Inukonda sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $109.73, for a total transaction of $548,650.00. Following the sale, the chief financial officer now directly owns 414,738 shares in the company, valued at approximately $45,509,200.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other DoorDash news, Director Shona L. Brown sold 700 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total transaction of $76,797.00. Following the transaction, the director now directly owns 71,514 shares in the company, valued at approximately $7,845,800.94. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $109.73, for a total transaction of $548,650.00. Following the sale, the chief financial officer now owns 414,738 shares of the company’s stock, valued at approximately $45,509,200.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 497,282 shares of company stock worth $64,885,042. Corporate insiders own 9.59% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several hedge funds have recently bought and sold shares of DASH. Spire Wealth Management acquired a new stake in shares of DoorDash during the first quarter worth about $25,000. Venturi Wealth Management LLC boosted its position in DoorDash by 54.5% during the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after acquiring an additional 90 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of DoorDash by 361.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock worth $39,000 after acquiring an additional 307 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of DoorDash by 448.8% in the third quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after purchasing an additional 359 shares during the last quarter. Finally, Valley National Advisers Inc. bought a new position in DoorDash in the fourth quarter valued at $43,000. 90.64% of the stock is currently 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.