DoorDash (NASDAQ:DASH) Price Target Raised to $245.00

DoorDash (NASDAQ:DASH) had its price objective lifted by Bank of America from $205.00 to $245.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also commented on DASH. Susquehanna upped their price target 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. Needham & Company LLC upped their price target on shares of DoorDash from $180.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday. Wolfe Research upped their price target on shares of DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. DA Davidson upped their price target 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. Finally, Royal Bank of Canada upped their price target on shares of DoorDash from $215.00 to $230.00 and gave the company an “outperform” 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.45.

DoorDash Stock Up 3.8 %

NASDAQ DASH opened at $213.38 on Wednesday. DoorDash has a 52 week low of $99.32 and a 52 week high of $214.64. The firm has a market capitalization of $88.64 billion, a P/E ratio of -474.18, a PEG ratio of 2.04 and a beta of 1.72. The company has a 50-day moving average price of $179.29 and a 200-day moving average price of $157.46.

Insider Activity

In related news, COO Prabir Adarkar sold 20,000 shares of the stock in a transaction on Thursday, January 23rd. The stock was 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 in the company, valued at approximately $167,307,894.26. This represents a 2.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $183.20, for a total value of $261,060.00. Following the sale, the chief financial officer now owns 366,993 shares in the company, valued at $67,233,117.60. The trade was a 0.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 932,426 shares of company stock worth $162,990,678. 7.92% of the stock is currently owned by insiders.

Institutional Trading of DoorDash

Several hedge funds and other institutional investors have recently bought and sold shares of DASH. Cetera Investment Advisers raised its holdings in DoorDash by 7.2% during the 2nd quarter. Cetera Investment Advisers now owns 11,747 shares of the company’s stock valued at $1,278,000 after buying an additional 788 shares during the period. CWM LLC increased its stake in DoorDash by 97.1% in the third quarter. CWM LLC now owns 10,705 shares of the company’s stock worth $1,528,000 after purchasing an additional 5,273 shares during the period. Creative Planning increased its stake in DoorDash by 58.3% in the third quarter. Creative Planning now owns 109,972 shares of the company’s stock worth $15,696,000 after purchasing an additional 40,489 shares during the period. Swedbank AB increased its stake in DoorDash by 1.0% in the third quarter. Swedbank AB now owns 165,516 shares of the company’s stock worth $23,624,000 after purchasing an additional 1,588 shares during the period. Finally, Vontobel Holding Ltd. increased its stake in DoorDash by 65.5% in the third quarter. Vontobel Holding Ltd. now owns 11,645 shares of the company’s stock worth $1,662,000 after purchasing an additional 4,607 shares during the period. Hedge funds and other institutional investors 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.