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

DoorDash (NASDAQ:DASH) had its price objective lifted by Cantor Fitzgerald from $200.00 to $230.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 19.12% from the company’s current price.

A number of other brokerages also recently issued reports on DASH. Loop Capital boosted their price target on DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Piper Sandler increased their price target on shares of DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Truist Financial lifted their price objective on shares of DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. BMO Capital Markets increased their target price on shares of DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their price target on DoorDash from $161.00 to $192.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $186.67.

DoorDash Stock Performance

NASDAQ DASH opened at $193.09 on Wednesday. The firm has a market capitalization of $80.21 billion, a P/E ratio of -429.09, a PEG ratio of 2.04 and a beta of 1.72. The stock has a 50-day simple moving average of $177.52 and a two-hundred day simple moving average of $156.06. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $199.17.

Insider Buying and Selling

In related news, CEO Tony Xu sold 115,432 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $177.01, for a total value of $20,432,618.32. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $265,515. The trade was a 98.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Prabir Adarkar sold 20,000 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $180.83, for a total transaction of $3,616,600.00. Following the completion of the transaction, the chief operating officer now owns 925,222 shares of the company’s stock, valued at $167,307,894.26. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,040,758 shares of company stock worth $181,434,201. Company insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers increased its position in DoorDash by 7.2% during the second quarter. Cetera Investment Advisers now owns 11,747 shares of the company’s stock worth $1,278,000 after buying an additional 788 shares during the period. CWM LLC increased its holdings in shares of DoorDash by 97.1% in the 3rd quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after acquiring an additional 5,273 shares during the period. Creative Planning increased its holdings in shares of DoorDash by 58.3% in the 3rd quarter. Creative Planning now owns 109,972 shares of the company’s stock valued at $15,696,000 after acquiring an additional 40,489 shares during the period. Swedbank AB raised its position in DoorDash by 1.0% in the 3rd quarter. Swedbank AB now owns 165,516 shares of the company’s stock valued at $23,624,000 after purchasing an additional 1,588 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in DoorDash by 65.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 11,645 shares of the company’s stock worth $1,662,000 after purchasing an additional 4,607 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.