The Vanguard Group, Inc. has recently announced that it has increased stake in DoorDash Inc. (NYSE:DASH) by 1.15%. After grabbing 25.65 million shares, the institutional investor is now in possession of 0.29 million shares of the Communication Services Company. The new investment brought the stake of investor firm to 7.11% having worth around $2.33 billion. Moreover, Capital Research & Management Co increased its share by 0.59 million to have a control over 18.24 million shares. And Baillie Gifford & Co. raised its holdings to 2.53 million shares by acquiring 12.25 million shares or 3.40% of the stake.
DoorDash Inc. (DASH) concluded trading on 09/14/23 at a closing price of $82.98, with 2.46 million shares of worth about $203.76 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 41.92% during that period and on Thursday the price saw a gain of about 0.91%. Currently the company’s common shares owned by public are about 386.36M shares, out of which, 357.08M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 35 analysts are covering the DASH stock and their offered price forecasts bring an average price target of $95.93. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $125.00 and could fall to a lowest price of $47.00. The stock’s current price level is 10.69% above of average price target set by the analysts, while a rise to estimated low would result in loss of -76.55% for the stock. However, touching the estimated high of $125.00 would mean a gain of 33.62% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 361 times over the past 12 months. They bought 43,989,873 shares in 81 of the transactions. In 280 selling transactions, insiders dumped 51,924,309 shares.
American Funds Growth Fund of Ame, Vanguard Total Stock Market ETF, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in DoorDash Inc. American Funds Growth Fund of Ame is currently holding 17.0 million shares of worth totaling $1.54 billion. The company recently came buying 2.62 million shares which brought its stake up to 4.71% of the company’s outstanding shares. Vanguard Total Stock Market ETF sold 10052.0 shares, after which its hold over company’s outstanding shares shrunk to 2.49%, leaving 8.97 million shares with the mutual fund that have a worth of about $814.83 million. Vanguard Mid Cap Index Fund, after selling 6.68 million shares, have now control over 1.85% of the stake in the company. It holds 10795.0 shares of worth $606.65 million.
DoorDash Inc. (NYSE: DASH) started trading at $83.01, above $0.78 from concluding price of the previous day. However, the stock later moved at a day high price of 83.92, or with a gain of 0.91%. Stock saw a price change of 1.17% in past 5 days and over the past one month there was a price change of 5.26%. Year-to-date (YTD), DASH shares are showing a performance of 69.97% which increased to 33.69% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $41.37 but also hit the highest price of $92.61 during that period. The average intraday trading volume for DoorDash Inc. shares is 3.07 million. The stock is currently trading 2.98% above its 20-day simple moving average (SMA20), while that difference is up 0.94% for SMA50 and it goes to 25.78% higher than SMA200.
The Vanguard Group, Inc. acquired 25.65 million shares of DoorDash Inc. having value of about $2.33 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.29 million shares in the company valued at close to $24265758.42, or have control over 1.15% stake in the company. DoorDash Inc. (NYSE: DASH) currently have 386.36M outstanding shares and institutions hold larger chunk of about 86.20% of that. Holding of mutual funds in the company is about 30.77% while other institutional holders and individual stake holders have control over 31.77% and 25.83% of the stake respectively.
The stock has a current market capitalization of $32.58B and its 3Y-monthly beta is at 1.63. It has posted earnings per share of -$3.27 in the same period. It has Quick Ratio of 1.70 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DASH, volatility over the week remained 2.15% while standing at 2.69% over the month.
Analysts are in expectations that DoorDash Inc. (DASH) stock would likely to be making an EPS of -$0.4 in the current quarter, while forecast for next quarter EPS is -$0.4 and it is -$0.78 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.68 which is -$0.27 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.77 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -164.50% while it is estimated to increase by 50.60% in next year.
Analysts at 35 brokerage firms have issued recommendations for the DoorDash Inc. (DASH)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 35 Wall Street analysts, 13 recommended a “Buy” rating, while 19 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on September 11, 2023 offering a Hold rating for the stock and assigned a target price range of between $70 and $90 to it.