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Several other research analysts have also issued reports on the company. Wells Fargo & Company increased their target price on DoorDash from $127.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Friday, October 4th. The Goldman Sachs Group raised their price objective on DoorDash from $142.00 to $161.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. DA Davidson increased their price target on shares of DoorDash from $119.00 to $150.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Citigroup upped their price objective on shares of DoorDash from $155.00 to $211.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Finally, Bank of America upped their price target on DoorDash from $168.00 to $172.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, DoorDash presently has a consensus rating of "Moderate Buy" and an average target price of $168.39.
Read Our Latest Stock Analysis on DoorDash
Shares of NASDAQ:DASH opened at $167.65 on Friday. DoorDash has a one year low of $93.33 and a one year high of $181.78. The company's fifty day moving average price is $167.15 and its 200-day moving average price is $137.10. The firm has a market capitalization of $69.64 billion, a price-to-earnings ratio of -372.56, a PEG ratio of 13.56 and a beta of 1.70.
DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the firm posted ($0.19) earnings per share. The business's revenue was up 25.0% compared to the same quarter last year. As a group, equities research analysts expect that DoorDash will post 0.26 EPS for the current year.
In related news, CEO Tony Xu sold 54,166 shares of the business's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the transaction, the director now owns 18,089 shares of the company's stock, valued at $2,710,274.87. This trade represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 951,528 shares of company stock worth $159,212,079 over the last 90 days. Corporate insiders own 7.92% of the company's stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. raised its holdings in DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company's stock valued at $2,018,584,000 after buying an additional 1,645,186 shares during the period. Dragoneer Investment Group LLC lifted its holdings in shares of DoorDash by 77.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company's stock worth $309,755,000 after acquiring an additional 1,246,567 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of DoorDash by 216.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company's stock worth $154,486,000 after purchasing an additional 739,961 shares during the period. Jupiter Asset Management Ltd. grew its holdings in DoorDash by 3,284.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company's stock valued at $79,385,000 after purchasing an additional 708,218 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company's stock worth $789,766,000 after purchasing an additional 700,465 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.
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.
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