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

DoorDash (NASDAQ:DASH) had its target price increased by investment analysts at Royal Bank of Canada from $215.00 to $230.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 16.00% from the company’s previous close.

DASH has been the topic of a number of other research reports. Bank of America upped their target price on DoorDash from $172.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wedbush upped their price target on shares of DoorDash from $160.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $240.00 price objective (up from $180.00) on shares of DoorDash in a research note on Wednesday. Benchmark boosted their price objective on DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Citigroup upped their target price on shares of DoorDash from $211.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $198.52.

DoorDash Stock Performance

DASH stock traded up $5.18 during trading on Wednesday, reaching $198.27. 4,959,929 shares of the company were exchanged, compared to its average volume of 2,880,662. DoorDash has a 52-week low of $99.32 and a 52-week high of $201.17. The company has a market cap of $82.36 billion, a P/E ratio of -440.60, a PEG ratio of 2.04 and a beta of 1.72. The stock’s 50 day moving average price is $177.52 and its 200 day moving average price is $156.06.

Insider Activity at DoorDash

In related news, CFO Ravi Inukonda sold 14,219 shares of DoorDash stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $2,416,945.62. Following the transaction, the chief financial officer now owns 380,993 shares of the company’s stock, valued at $64,761,190.14. This trade represents a 3.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction that occurred 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 directly owns 1,500 shares of the company’s stock, valued at $255,375. The trade was a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,040,758 shares of company stock worth $181,434,201 in the last 90 days. 7.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoorDash

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in DoorDash by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock worth $5,254,501,000 after buying an additional 317,502 shares during the period. Baillie Gifford & Co. increased its holdings in shares of 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 acquiring an additional 1,645,186 shares in the last quarter. State Street Corp raised its position 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 purchasing an additional 272,659 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of DoorDash by 14.5% during the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after purchasing an additional 700,465 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of DoorDash by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock valued at $636,652,000 after purchasing an additional 267,855 shares during the period. 90.64% of the stock is owned by 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.