DoorDash (NASDAQ:DASH) Price Target Raised to $240.00

DoorDash (NASDAQ:DASH) had its price objective hoisted by analysts at Citigroup from $211.00 to $240.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 16.71% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group lifted 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. Mizuho raised their target price on shares of DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Argus raised shares of DoorDash from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Barclays raised their target price on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $205.45.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $205.64 on Wednesday. The company has a market cap of $85.42 billion, a PE ratio of -456.98, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72. DoorDash has a 12 month low of $99.32 and a 12 month high of $206.00. The company has a 50-day simple moving average of $178.59 and a 200-day simple moving average of $156.71.

Insider Activity

In related news, CEO Tony Xu sold 115,432 shares of DoorDash stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $177.01, for a total value of $20,432,618.32. Following the completion of the sale, the chief executive officer now owns 1,500 shares in the company, valued at approximately $265,515. The trade was a 98.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Tia Sherringham sold 12,950 shares of DoorDash stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $2,201,241.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 932,426 shares of company stock worth $162,990,678 over the last 90 days. Company insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc increased its stake in DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after purchasing an additional 54 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of DoorDash by 34.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock valued at $46,000 after acquiring an additional 69 shares during the period. Avestar Capital LLC boosted its holdings in shares of DoorDash by 1.1% during the fourth quarter. Avestar Capital LLC now owns 6,618 shares of the company’s stock valued at $1,110,000 after acquiring an additional 75 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of DoorDash by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock valued at $1,970,000 after acquiring an additional 84 shares during the period. Finally, Pallas Capital Advisors LLC boosted its holdings in shares of DoorDash by 3.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock valued at $414,000 after acquiring an additional 88 shares during the period. 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.