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

DoorDash (NASDAQ:DASH) had its price objective raised by equities researchers at Truist Financial from $217.00 to $235.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 18.54% from the stock’s previous close.

Several other brokerages also recently commented on DASH. Evercore ISI boosted their price objective on shares of DoorDash from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays boosted their target price on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Needham & Company LLC boosted their target price on shares of DoorDash from $180.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday. KeyCorp boosted their target price on shares of DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. Finally, DA Davidson boosted their target price on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $201.45.

DoorDash Price Performance

DASH traded up $5.16 during trading on Wednesday, hitting $198.25. 6,073,399 shares of the stock traded hands, compared to its average volume of 2,920,332. DoorDash has a twelve month low of $99.32 and a twelve month high of $201.17. The company has a market cap of $82.35 billion, a price-to-earnings ratio of -442.17, a PEG ratio of 2.04 and a beta of 1.72. The business has a 50 day moving average price of $177.52 and a 200 day moving average price of $156.06.

Insider Buying and Selling

In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $168.32, for a total value of $8,416,000.00. Following the sale, the director now directly owns 16,176 shares in the company, valued at $2,722,744.32. This represents a 75.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Keith Yandell sold 7,980 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the sale, the insider now owns 124,221 shares in the company, valued at approximately $21,115,085.58. This trade represents a 6.04 % 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 valued at $181,434,201. Company insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of large investors have recently added to or reduced their stakes in DASH. Norges Bank purchased a new position in DoorDash in the 4th quarter worth $597,443,000. Arrowstreet Capital Limited Partnership raised its position in DoorDash by 67.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after purchasing an additional 1,869,866 shares during the period. Baillie Gifford & Co. grew its holdings in DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after acquiring an additional 1,645,186 shares during the last quarter. Raymond James Financial Inc. bought a new stake in DoorDash in the 4th quarter worth $146,094,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in DoorDash by 216.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after acquiring an additional 739,961 shares during the last quarter. 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.