Benchmark Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its target price increased by Benchmark from $180.00 to $220.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Susquehanna lifted their price target on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Mizuho lifted their price target on shares of DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Wolfe Research boosted their target price on shares of DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Loop Capital boosted their target price on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group boosted their target price on shares of DoorDash from $161.00 to $192.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $180.82.

DoorDash Trading Up 0.2 %

NASDAQ:DASH opened at $193.09 on Tuesday. The stock has a market capitalization of $80.21 billion, a PE ratio of -429.09, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72. The firm’s 50 day moving average is $177.52 and its 200 day moving average is $156.06. DoorDash has a 12 month low of $99.32 and a 12 month high of $199.17.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $170.25, for a total value of $18,443,523.00. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $255,375. The trade was a 98.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction dated Friday, January 24th. The stock was 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 directly owns 366,993 shares of the company’s stock, valued at $67,233,117.60. This trade represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,040,758 shares of company stock valued at $181,434,201 in the last three months. Company insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DASH. Baillie Gifford & Co. raised its holdings in DoorDash by 13.2% in 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 last quarter. Raymond James Financial Inc. bought a new stake in shares of DoorDash in the fourth quarter worth approximately $146,094,000. Allspring Global Investments Holdings LLC grew its stake in shares of DoorDash by 216.1% in the third 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 period. Janus Henderson Group PLC grew its stake in shares of DoorDash by 14.5% in the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after acquiring an additional 700,465 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of DoorDash by 5,396.1% in the third quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock worth $94,716,000 after acquiring an additional 651,525 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.