DoorDash (NASDAQ:DASH) Price Target Raised to $240.00 at Citigroup

DoorDash (NASDAQ:DASH) had its target price upped by Citigroup from $211.00 to $240.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

DASH has been the topic of a number of other reports. Susquehanna upped their target price on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Piper Sandler increased their price target on shares of DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Bank of America increased their price target on shares of DoorDash from $172.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. increased their price target on shares of DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, KeyCorp increased their price target on shares of DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus target price of $202.67.

DoorDash Stock Performance

DASH stock opened at $200.89 on Wednesday. The company’s 50 day moving average price is $178.00 and its 200 day moving average price is $156.37. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $201.17.

Insider Activity

In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated 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 owns 18,089 shares in the company, valued at approximately $3,123,427.63. This trade represents a 73.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $170.25, for a total value of $18,443,523.00. Following the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $255,375. This represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,040,758 shares of company stock worth $181,434,201 over the last 90 days. 7.92% of the stock is currently owned by corporate insiders.

Institutional Trading of DoorDash

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its stake in DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after buying an additional 54 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in DoorDash by 34.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after buying an additional 69 shares during the last quarter. Avestar Capital LLC boosted its stake in DoorDash by 1.1% in the 4th quarter. Avestar Capital LLC now owns 6,618 shares of the company’s stock worth $1,110,000 after buying an additional 75 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in DoorDash by 0.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock worth $1,970,000 after buying an additional 84 shares during the last quarter. Finally, Pallas Capital Advisors LLC boosted its stake in DoorDash by 3.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock worth $414,000 after buying an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.