DoorDash (NASDAQ:DASH) Reaches New 52-Week High on Analyst Upgrade

DoorDash, Inc. (NASDAQ:DASH)’s stock price hit a new 52-week high during mid-day trading on Tuesday after UBS Group raised their price target on the stock from $182.00 to $200.00. UBS Group currently has a neutral rating on the stock. DoorDash traded as high as $192.78 and last traded at $190.80, with a volume of 4230171 shares trading hands. The stock had previously closed at $188.83.

A number of other equities research analysts have also recently weighed in on the stock. JMP Securities reiterated a “market outperform” rating and set a $200.00 price target on shares of DoorDash in a research report on Thursday, January 2nd. DA Davidson lifted their target price on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Morgan Stanley upped their price target on DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada lifted their price objective on DoorDash from $175.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Mizuho increased their target price on DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.39.

Insider Transactions at DoorDash

In other news, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $183.20, for a total transaction of $261,060.00. Following the transaction, the chief financial officer now directly owns 366,993 shares in the company, valued at approximately $67,233,117.60. This trade represents a 0.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Prabir Adarkar sold 20,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer now 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,040,758 shares of company stock worth $181,434,201. Corporate insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DASH. Baillie Gifford & Co. grew its holdings in shares of DoorDash by 13.2% during 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. State Street Corp grew its stake in shares of DoorDash by 3.8% in the 3rd quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after purchasing an additional 272,659 shares during the last quarter. Janus Henderson Group PLC increased its holdings 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 valued at $789,766,000 after purchasing an additional 700,465 shares during the period. Geode Capital Management LLC raised its stake in shares of DoorDash by 6.4% during the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after purchasing an additional 267,855 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of DoorDash by 15.2% during the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after purchasing an additional 501,905 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Stock Performance

The stock has a market capitalization of $81.41 billion, a PE ratio of -435.53, a price-to-earnings-growth ratio of 1.97 and a beta of 1.72. The business’s 50-day moving average is $176.19 and its two-hundred day moving average is $153.15.

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.