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

DoorDash (NASDAQ:DASH) had its price objective upped by stock analysts at Citigroup from $211.00 to $240.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 24.29% from the stock’s current price.

Several other brokerages have also commented on DASH. Royal Bank of Canada upped their price target on DoorDash from $175.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Argus upgraded DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. The Goldman Sachs Group upped their price target on DoorDash from $161.00 to $192.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Jefferies Financial Group upped their price target on DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Bank of America upped their price target on DoorDash from $172.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.55.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $193.09 on Wednesday. The business has a 50-day moving average of $177.52 and a two-hundred day moving average of $156.06. DoorDash has a 12 month low of $99.32 and a 12 month high of $199.17.

Insiders Place Their Bets

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $183.20, for a total transaction of $261,060.00. Following the transaction, the chief financial officer now owns 366,993 shares of the company’s stock, valued at $67,233,117.60. This trade represents a 0.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Prabir Adarkar sold 20,000 shares of the 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 in the company, 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. Insiders have sold a total of 1,040,758 shares of company stock valued at $181,434,201 in the last quarter. Insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Several hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc lifted its holdings in shares of DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after purchasing an additional 54 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 purchasing an additional 69 shares during the last quarter. Avestar Capital LLC lifted its holdings in shares of 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 purchasing an additional 75 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of 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 purchasing an additional 84 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its holdings in shares of 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 purchasing an additional 88 shares during the last quarter. 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.