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

DoorDash (NASDAQ:DASH) had its target price lifted by Royal Bank of Canada from $215.00 to $230.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages also recently issued reports on DASH. Needham & Company LLC lifted their price objective on DoorDash from $180.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday. BMO Capital Markets reiterated an “outperform” rating and issued a $240.00 price objective (up previously from $180.00) on shares of DoorDash in a research report on Wednesday. Truist Financial lifted their price objective on DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Roth Mkm boosted their target price on DoorDash from $165.00 to $193.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Barclays boosted their target price on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.45.

DoorDash Stock Performance

Shares of DASH opened at $213.38 on Wednesday. The stock has a fifty day moving average price of $179.29 and a two-hundred day moving average price of $157.46. DoorDash has a 52-week low of $99.32 and a 52-week high of $214.64. The company has a market cap of $88.64 billion, a price-to-earnings ratio of -474.18, a PEG ratio of 2.04 and a beta of 1.72.

Insider Transactions at DoorDash

In other news, CFO Ravi Inukonda sold 1,425 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $183.20, for a total transaction of $261,060.00. Following the completion of the transaction, the chief financial officer now directly owns 366,993 shares of the company’s stock, valued at $67,233,117.60. This represents a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Keith Yandell sold 7,980 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $1,356,440.40. Following the transaction, the insider now directly owns 124,221 shares of the company’s stock, valued at $21,115,085.58. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 932,426 shares of company stock valued at $162,990,678 over the last three months. Company insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Caisse DE Depot ET Placement DU Quebec boosted its position in DoorDash by 75.4% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 444,862 shares of the company’s stock valued at $74,626,000 after purchasing an additional 191,213 shares during the last quarter. Becker Capital Management Inc. acquired a new position in DoorDash during the fourth quarter valued at approximately $201,000. Comerica Bank boosted its position in DoorDash by 6.1% during the fourth quarter. Comerica Bank now owns 19,764 shares of the company’s stock valued at $3,315,000 after purchasing an additional 1,136 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in DoorDash during the fourth quarter valued at approximately $188,000. Finally, Voleon Capital Management LP acquired a new position in DoorDash during the fourth quarter valued at approximately $10,456,000. 90.64% of the stock is owned by institutional investors and hedge funds.

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.