DoorDash (NASDAQ:DASH) Given New $240.00 Price Target at Evercore ISI

DoorDash (NASDAQ:DASH) had its price objective upped by research analysts at Evercore ISI from $200.00 to $240.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price points to a potential upside of 24.29% from the company’s current price.

Several other equities analysts have also commented on the stock. JMP Securities restated a “market outperform” rating and set a $200.00 price target on shares of DoorDash in a research report on Thursday, February 6th. Loop Capital upped their price target on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Mizuho lifted their price target on shares of DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday. Citigroup lifted their target price on DoorDash from $211.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Needham & Company LLC boosted their target price on DoorDash from $180.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $186.67.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $193.09 on Wednesday. The company’s fifty day moving average is $177.52 and its two-hundred day moving average is $156.06. DoorDash has a 1-year low of $99.32 and a 1-year high of $199.17. The stock has a market capitalization of $80.21 billion, a price-to-earnings ratio of -429.09, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72.

Insider Buying and Selling

In related news, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $170.25, for a total value of $18,443,523.00. Following the transaction, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $255,375. This trade represents a 98.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Prabir Adarkar sold 20,000 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $180.83, for a total transaction of $3,616,600.00. Following the transaction, the chief operating officer now directly owns 925,222 shares of the company’s stock, valued at approximately $167,307,894.26. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,040,758 shares of company stock worth $181,434,201. 7.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DoorDash

Institutional investors have recently made changes to their positions in the business. NEOS Investment Management LLC increased its position in DoorDash by 19.6% during the fourth quarter. NEOS Investment Management LLC now owns 25,874 shares of the company’s stock worth $4,340,000 after acquiring an additional 4,244 shares during the period. Elo Mutual Pension Insurance Co boosted its holdings in DoorDash by 13.0% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 30,514 shares of the company’s stock valued at $5,119,000 after purchasing an additional 3,507 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in DoorDash by 6.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 303,946 shares of the company’s stock worth $53,178,000 after purchasing an additional 18,493 shares during the last quarter. Korea Investment CORP increased its holdings in shares of DoorDash by 19.8% during the 4th quarter. Korea Investment CORP now owns 288,546 shares of the company’s stock worth $48,404,000 after purchasing an additional 47,676 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of DoorDash by 6.1% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,510 shares of the company’s stock worth $757,000 after purchasing an additional 260 shares during the period. 90.64% of the stock is currently owned by institutional investors.

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.