DoorDash (NYSE:DASH) Price Target Raised to $195.00 at Needham & Company LLC

DoorDash (NYSE:DASH) had its price target hoisted by Needham & Company LLC from $175.00 to $195.00 in a research note issued to investors on Tuesday, PriceTargets.com reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. JMP Securities upped their target price on shares of DoorDash from $185.00 to $195.00 and gave the stock an outperform rating in a report on Friday, February 26th. Truist Securities raised shares of DoorDash from a hold rating to a buy rating and upped their price objective for the stock from $180.00 to $185.00 in a research report on Friday, May 14th. DA Davidson reduced their price objective on shares of DoorDash from $162.00 to $158.00 and set a neutral rating for the company in a research report on Wednesday, May 19th. Mizuho reduced their price objective on shares of DoorDash from $170.00 to $155.00 and set a neutral rating for the company in a research report on Friday, May 14th. Finally, Wolfe Research initiated coverage on shares of DoorDash in a research report on Wednesday, March 31st. They issued an outperform rating and a $180.00 price objective for the company. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $167.83.

DASH opened at $175.30 on Tuesday. DoorDash has a fifty-two week low of $110.13 and a fifty-two week high of $256.09. The firm has a market cap of $57.12 billion and a price-to-earnings ratio of -23.72. The stock has a 50-day simple moving average of $145.74.

DoorDash (NYSE:DASH) last posted its earnings results on Thursday, May 13th. The company reported ($0.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.11). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $994.62 million. The company’s revenue for the quarter was up 197.5% on a year-over-year basis. On average, equities research analysts expect that DoorDash will post -0.99 EPS for the current year.

In related news, major shareholder Fast (Cayman) Ltd Svf sold 8,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 19th. The shares were sold at an average price of $132.25, for a total value of $1,058,000,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Keith Yandell sold 11,712 shares of the firm’s stock in a transaction that occurred on Thursday, May 20th. The stock was sold at an average price of $136.67, for a total transaction of $1,600,679.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,105,953 shares of company stock valued at $1,217,973,581. 15.54% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nellore Capital Management LLC purchased a new stake in DoorDash in the 4th quarter worth approximately $29,000. IFP Advisors Inc lifted its stake in DoorDash by 200.0% in the 1st quarter. IFP Advisors Inc now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 200 shares in the last quarter. The PNC Financial Services Group Inc. purchased a new stake in DoorDash in the 1st quarter worth approximately $49,000. Citigroup Inc. purchased a new stake in DoorDash in the 4th quarter worth approximately $64,000. Finally, Evoke Wealth LLC purchased a new stake in shares of DoorDash during the 1st quarter valued at $115,000. Institutional investors and hedge funds own 76.23% of the company’s stock.

DoorDash Company Profile

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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Analyst Recommendations for DoorDash (NYSE:DASH)

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