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Highlights:
Citigroup raises DoorDash’s price target from $155 to $211, maintaining a “buy” rating.
Several analysts revise their outlooks, with a mix of upgrades and target price adjustments.
Insider trading activity shows both sales and reductions in stakes by company executives.
DoorDash (NASDAQ:DASH) has garnered significant attention in recent weeks, with Citigroup revising its price target for the company from $155 to $211, suggesting a potential upside from its current price. The brokerage maintained its “buy” rating, indicating a positive outlook for the company’s stock. Other analysts have similarly updated their views, reflecting mixed sentiment. Raymond James initiated coverage with an “outperform” rating and a $155 price objective, while Wells Fargo and Bank of America adjusted their own price objectives, further highlighting diverse analyst perspectives on the company's future performance. On average, DoorDash holds a "Moderate Buy" rating from analysts, with a consensus price estimate of $166.06.
As of the latest trading session, DoorDash opened at $178.44. The stock has fluctuated between a 12-month low of $92.58 and a high of $181.30. The company boasts a market capitalization of $74.12 billion, though its price-to-earnings ratio is currently negative, a reflection of the company's ongoing efforts to achieve profitability. DoorDash recently reported a notable earnings performance, surpassing analysts’ expectations with a positive earnings per share (EPS) and revenue growth of 25% year-over-year. Despite the revenue increase, the company still faced a negative net margin, indicating challenges ahead.
In terms of insider activity, there have been recent stock sales by key executives, including Keith Yandell and Tia Sherringham. These sales may reflect strategic portfolio adjustments by the company’s leadership. Despite the insider selling, DoorDash remains a major player in the food delivery industry, benefiting from its strong market position.
Institutional interest in DoorDash remains robust, with significant increases in holdings by firms such as Baillie Gifford & Co., reflecting institutional confidence in the company's long-term prospects.
