DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Evercore ISI Analyst Says

DoorDash (NASDAQ:DASH) had its target price raised by equities research analysts at Evercore ISI from $200.00 to $240.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price objective would indicate a potential upside of 24.29% from the company’s current price.

Several other equities research analysts have also recently weighed in on DASH. DA Davidson raised their price objective on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised their price target on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Morgan Stanley boosted their price objective on shares of DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group increased their price objective on DoorDash from $161.00 to $192.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Finally, Needham & Company LLC boosted their target price on DoorDash from $180.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $186.67.

DoorDash Stock Performance

Shares of DASH opened at $193.09 on Wednesday. The company has a market cap of $80.21 billion, a price-to-earnings ratio of -429.09, a PEG ratio of 2.04 and a beta of 1.72. The stock has a fifty day moving average price of $177.52 and a two-hundred day moving average price of $156.06. DoorDash has a 52-week low of $99.32 and a 52-week high of $199.17.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $180.83, for a total value of $3,616,600.00. Following the completion of the transaction, the chief operating officer now directly owns 925,222 shares of the company’s stock, valued at approximately $167,307,894.26. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony Xu sold 108,332 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $255,375. This represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,040,758 shares of company stock valued at $181,434,201. 7.92% of the stock is owned by insiders.

Institutional Trading of DoorDash

Institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. lifted its stake in shares of DoorDash by 13.2% during the 3rd 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 position in DoorDash in the 4th quarter valued at about $146,094,000. Allspring Global Investments Holdings LLC grew its position 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 valued at $154,486,000 after purchasing an additional 739,961 shares during the last quarter. Janus Henderson Group PLC increased 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 purchasing an additional 700,465 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in DoorDash by 5,396.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock valued at $94,716,000 after buying an additional 651,525 shares in 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.