DoorDash (NASDAQ:DASH) Price Target Raised to $212.00 at The Goldman Sachs Group

DoorDash (NASDAQ:DASH) had its target price raised by equities researchers at The Goldman Sachs Group from $192.00 to $212.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 6.65% from the stock’s current price.

Several other equities analysts have also issued reports on DASH. JPMorgan Chase & Co. lifted their price objective on shares of DoorDash from $155.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday. Truist Financial increased their target price on shares of DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. DA Davidson raised their target price on DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wolfe Research lifted their target price on DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Jefferies Financial Group boosted their price target on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $198.06.

DoorDash Stock Performance

DoorDash stock traded up $5.68 during trading hours on Wednesday, hitting $198.77. The company had a trading volume of 4,793,730 shares, compared to its average volume of 2,861,546. DoorDash has a 1 year low of $99.32 and a 1 year high of $201.17. The firm has a market cap of $82.57 billion, a P/E ratio of -440.90, a P/E/G ratio of 2.04 and a beta of 1.72. The company has a 50-day moving average price of $177.52 and a two-hundred day moving average price of $156.06.

Insider Activity

In other news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $172.67, for a total value of $8,633,500.00. Following the completion of the sale, the director now owns 18,089 shares of the company’s stock, valued at approximately $3,123,427.63. This represents a 73.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the transaction, the chief executive officer now owns 1,500 shares in the company, valued at approximately $255,375. The trade was a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,040,758 shares of company stock valued at $181,434,201 over the last 90 days. 7.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of DoorDash during the 4th quarter worth approximately $597,443,000. Baillie Gifford & Co. boosted its position in 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 purchasing an additional 1,645,186 shares during the period. Raymond James Financial Inc. acquired a new position in shares of DoorDash in the fourth quarter valued at $146,094,000. Allspring Global Investments Holdings LLC raised 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 period. Finally, Janus Henderson Group PLC lifted its stake 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 worth $789,766,000 after buying an additional 700,465 shares during the last quarter. 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.