Benchmark Raises DoorDash (NASDAQ:DASH) Price Target to $220.00

DoorDash (NASDAQ:DASH) had its price target upped by equities researchers at Benchmark from $180.00 to $220.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective suggests a potential upside of 9.51% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Susquehanna raised their price objective on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Argus raised DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Royal Bank of Canada upped their price objective on DoorDash from $175.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Evercore ISI lifted their target price on DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Barclays boosted their target price on shares of DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and a consensus price target of $202.67.

DoorDash Trading Up 4.0 %

Shares of DASH opened at $200.89 on Tuesday. DoorDash has a twelve month low of $99.32 and a twelve month high of $201.17. The company’s fifty day simple moving average is $178.00 and its 200-day simple moving average is $156.37. The company has a market cap of $83.45 billion, a P/E ratio of -446.42, a P/E/G ratio of 2.04 and a beta of 1.72.

Insider Transactions at DoorDash

In other DoorDash news, General Counsel Tia Sherringham sold 12,950 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $2,201,241.00. Following the completion of the transaction, the general counsel now owns 145,917 shares of the company’s stock, valued at approximately $24,802,971.66. This trade represents a 8.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Tony Xu sold 108,332 shares of DoorDash 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 sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $255,375. The trade was a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,040,758 shares of company stock valued at $181,434,201. Corporate insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP raised its position in DoorDash by 39.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 85,917 shares of the company’s stock worth $14,413,000 after buying an additional 24,466 shares during the last quarter. Motley Fool Asset Management LLC raised its holdings in shares of DoorDash by 12.9% during the fourth quarter. Motley Fool Asset Management LLC now owns 18,696 shares of the company’s stock worth $3,136,000 after purchasing an additional 2,134 shares during the last quarter. Huntington National Bank lifted its position in DoorDash by 90.9% during the fourth quarter. Huntington National Bank now owns 485 shares of the company’s stock valued at $81,000 after purchasing an additional 231 shares during the period. Meeder Advisory Services Inc. lifted its position in DoorDash by 11.7% during the fourth quarter. Meeder Advisory Services Inc. now owns 5,224 shares of the company’s stock valued at $876,000 after purchasing an additional 546 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in DoorDash by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company’s stock valued at $763,198,000 after purchasing an additional 86,667 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

About DoorDash

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.