DoorDash (NASDAQ:DASH) Price Target Raised to $235.00

DoorDash (NASDAQ:DASH) had its price objective increased by Truist Financial from $217.00 to $235.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on DASH. Needham & Company LLC boosted their price objective on DoorDash from $180.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley boosted their price objective on DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Barclays boosted their price objective on DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Benchmark boosted their price objective on DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Bank of America boosted their price objective on DoorDash from $172.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $205.45.

DoorDash Stock Up 3.8 %

Shares of DoorDash stock opened at $213.38 on Wednesday. DoorDash has a 52 week low of $99.32 and a 52 week high of $214.64. The business’s fifty day simple moving average is $179.29 and its 200-day simple moving average is $157.46. The firm has a market cap of $88.64 billion, a PE ratio of -474.18, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the completion of the sale, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $3,123,427.63. This trade represents a 73.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony Xu sold 108,334 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $180.07, for a total value of $19,507,703.38. Following the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $270,105. The trade was a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 932,426 shares of company stock valued at $162,990,678 in the last three months. 7.92% of the stock is currently owned by company insiders.

Institutional Trading of DoorDash

A number of hedge funds have recently added to or reduced their stakes in DASH. Rakuten Securities Inc. raised 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 buying an additional 130 shares in the last quarter. Pittenger & Anderson Inc. purchased a new position in shares of DoorDash during the 4th quarter worth approximately $29,000. Denver PWM LLC purchased a new position in shares of DoorDash during the 4th quarter worth approximately $30,000. Princeton Global Asset Management LLC purchased a new position in shares of DoorDash during the 4th quarter worth approximately $34,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of DoorDash during the 4th quarter worth approximately $36,000. 90.64% of the stock is owned by institutional investors and hedge funds.

About DoorDash

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.