DoorDash (NASDAQ:DASH) Price Target Raised to $230.00 at Cantor Fitzgerald

DoorDash (NASDAQ:DASH) had its price target hoisted by Cantor Fitzgerald from $200.00 to $230.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts also recently issued reports on the company. Royal Bank of Canada boosted their price objective on DoorDash from $175.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Morgan Stanley upped their price target on shares of DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. DA Davidson lifted their price objective on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and set a $200.00 target price on shares of DoorDash in a research note on Thursday, February 6th. Finally, KeyCorp raised their target price on DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $202.67.

DoorDash Price Performance

DASH opened at $200.89 on Wednesday. The business has a fifty day simple moving average of $178.00 and a 200-day simple moving average of $156.37. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $201.17.

Insider Activity

In other DoorDash news, COO Prabir Adarkar sold 20,000 shares of DoorDash stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $180.83, for a total value 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 $167,307,894.26. The trade was a 2.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were 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 of the company’s stock, valued at $67,233,117.60. This represents 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 valued at $181,434,201 over the last 90 days. 7.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoorDash

Several large investors have recently bought and sold shares of DASH. Rakuten Securities Inc. increased its holdings 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 purchasing an additional 130 shares during the period. Pittenger & Anderson Inc. acquired a new stake in DoorDash during the fourth quarter worth about $29,000. Denver PWM LLC bought a new position in DoorDash during the fourth quarter valued at about $30,000. Princeton Global Asset Management LLC acquired a new position in DoorDash in the 4th quarter valued at approximately $34,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of DoorDash in the 4th quarter worth approximately $36,000. 90.64% of the stock is currently 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.