DoorDash (NASDAQ:DASH) Price Target Raised to $235.00

DoorDash (NASDAQ:DASH) had its price objective raised by investment analysts at Truist Financial from $217.00 to $235.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 18.54% from the stock’s current price.

Several other research analysts have also recently issued reports on DASH. BMO Capital Markets reaffirmed an “outperform” rating and issued a $240.00 target price (up from $180.00) on shares of DoorDash in a report on Wednesday. Citigroup boosted their price objective on shares of DoorDash from $211.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday. Benchmark boosted their price objective on shares of DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday. Mizuho boosted their target price on shares of DoorDash from $200.00 to $222.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Susquehanna boosted their target price on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.45.

DoorDash Stock Up 2.7 %

DoorDash stock traded up $5.16 during trading hours on Wednesday, hitting $198.25. The stock had a trading volume of 6,073,399 shares, compared to its average volume of 2,920,332. The stock has a market capitalization of $82.35 billion, a P/E ratio of -442.17, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72. DoorDash has a 12-month low of $99.32 and a 12-month high of $201.17. The stock’s 50-day moving average price is $177.52 and its 200-day moving average price is $156.06.

Insider Buying and Selling at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 20,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 925,222 shares of the company’s stock, valued at approximately $167,307,894.26. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ravi Inukonda sold 1,425 shares of the business’s 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 sale, the chief financial officer now directly owns 366,993 shares in the company, valued at approximately $67,233,117.60. This represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,040,758 shares of company stock valued at $181,434,201. Company insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Several large investors have recently bought and sold shares of DASH. IFP Advisors Inc lifted its stake in DoorDash by 31.8% during the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after acquiring an additional 54 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake 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 valued at $46,000 after purchasing an additional 69 shares during the period. Avestar Capital LLC lifted its stake in shares of DoorDash by 1.1% in the 4th quarter. Avestar Capital LLC now owns 6,618 shares of the company’s stock valued at $1,110,000 after purchasing an additional 75 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake 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 valued at $1,970,000 after purchasing an additional 84 shares during the period. Finally, Pallas Capital Advisors LLC lifted its stake 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 valued at $414,000 after purchasing an additional 88 shares during the period. Hedge funds and other 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.