Roth Mkm Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its price objective upped by Roth Mkm from $165.00 to $193.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also weighed in on the stock. Benchmark increased their target price on DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday. Needham & Company LLC upped their price objective on DoorDash from $180.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday. Argus raised DoorDash from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Mizuho boosted their target price on DoorDash from $200.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Bank of America raised their price target on shares of DoorDash from $172.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.67.

DoorDash Trading Up 4.0 %

DoorDash stock opened at $200.89 on Wednesday. The company has a 50 day moving average of $178.00 and a 200-day moving average of $156.37. DoorDash has a twelve month low of $99.32 and a twelve month high of $201.17.

Insider Buying and Selling

In related news, CFO Ravi Inukonda sold 14,219 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $2,416,945.62. Following the completion of the sale, the chief financial officer now directly owns 380,993 shares in the company, valued at approximately $64,761,190.14. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total value 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. This trade represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,040,758 shares of company stock valued at $181,434,201. Insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

A number of institutional investors have recently modified their holdings of DASH. Rakuten Securities Inc. increased its position in shares of DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the period. Pittenger & Anderson Inc. acquired a new stake in DoorDash during the fourth quarter worth about $29,000. Denver PWM LLC bought a new position in DoorDash in the 4th quarter valued at about $30,000. Princeton Global Asset Management LLC acquired a new position in shares of DoorDash in the 4th quarter valued at approximately $34,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of DoorDash during the 4th quarter worth approximately $36,000. 90.64% of the stock is currently owned by institutional investors.

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.