UBS Group Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price target increased by research analysts at UBS Group from $200.00 to $204.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 2.56% from the stock’s previous close.

A number of other brokerages have also recently issued reports on DASH. Mizuho upped their price objective on shares of DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a report on Wednesday. Loop Capital boosted their target price on DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Susquehanna lifted their price target on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Roth Mkm boosted their price objective on DoorDash from $165.00 to $193.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, KeyCorp raised their price objective on DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $200.91.

DoorDash Stock Up 3.0 %

Shares of DoorDash stock traded up $5.83 on Wednesday, hitting $198.92. 5,636,689 shares of the company traded hands, compared to its average volume of 2,902,595. The company has a market cap of $82.63 billion, a PE ratio of -442.39, a PEG ratio of 2.04 and a beta of 1.72. DoorDash has a 12-month low of $99.32 and a 12-month high of $201.17. The company has a 50-day moving average price of $177.52 and a 200 day moving average price of $156.06.

Insider Activity

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $172.67, for a total value of $8,633,500.00. Following the transaction, the director now owns 18,089 shares in the company, valued at approximately $3,123,427.63. The trade was a 73.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $183.20, for a total value of $261,060.00. Following the completion of the sale, the chief financial officer now directly owns 366,993 shares in the company, valued at approximately $67,233,117.60. The trade was a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,040,758 shares of company stock worth $181,434,201 over the last ninety days. Company insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several large investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. lifted its stake in shares of DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares during the last quarter. Pittenger & Anderson Inc. purchased a new position in shares of DoorDash during the fourth quarter valued at $29,000. Denver PWM LLC bought a new stake in shares of DoorDash in the fourth quarter valued at about $30,000. Princeton Global Asset Management LLC bought a new position in shares of DoorDash in the 4th quarter worth $34,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of DoorDash during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Company Profile

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.