DoorDash (NASDAQ:DASH) Price Target Raised to $240.00

DoorDash (NASDAQ:DASH) had its price target upped by Evercore ISI from $200.00 to $240.00 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also commented on the company. Citigroup boosted their price objective on DoorDash from $211.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada boosted their target price on DoorDash from $175.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. UBS Group boosted their target price on DoorDash from $182.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Barclays boosted their target price on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Bank of America boosted their target price on DoorDash from $172.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and an average target price of $205.45.

DoorDash Trading Up 3.8 %

NASDAQ:DASH opened at $213.38 on Wednesday. DoorDash has a 12 month low of $99.32 and a 12 month high of $214.64. The stock has a 50 day moving average of $179.29 and a two-hundred day moving average of $157.46. The firm has a market cap of $88.64 billion, a P/E ratio of -474.18, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 16,176 shares in the company, valued at $2,722,744.32. This represents a 75.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $183.20, for a total transaction of $261,060.00. Following the completion of the transaction, the chief financial officer now owns 366,993 shares of the company’s stock, valued at $67,233,117.60. This represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 932,426 shares of company stock valued at $162,990,678 over the last quarter. 7.92% of the stock is owned by insiders.

Hedge Funds Weigh In On DoorDash

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in DoorDash by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock valued at $5,254,501,000 after acquiring an additional 317,502 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after buying an additional 1,645,186 shares during the period. Capital World Investors boosted its stake in shares of DoorDash by 26.4% during the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock worth $2,038,712,000 after buying an additional 2,538,160 shares during the period. State Street Corp boosted its stake in shares of DoorDash by 3.8% during the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock worth $1,055,616,000 after buying an additional 272,659 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after buying an additional 700,465 shares during the period. Institutional investors and hedge funds 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.