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

DoorDash (NASDAQ:DASH) had its target price increased by research analysts at Mizuho from $200.00 to $222.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 7.96% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Bank of America upped their price objective on shares of DoorDash from $172.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Wolfe Research upped their price objective on shares of DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Evercore ISI upped their target price on shares of DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Benchmark upped their target price on shares of DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.45.

DoorDash Trading Up 2.4 %

Shares of NASDAQ DASH opened at $205.64 on Wednesday. The firm’s 50-day moving average price is $178.59 and its 200-day moving average price is $156.71. DoorDash has a 1-year low of $99.32 and a 1-year high of $206.00. The firm has a market capitalization of $85.42 billion, a P/E ratio of -456.98, a P/E/G ratio of 2.04 and a beta of 1.72.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $180.83, for a total transaction of $3,616,600.00. Following the sale, the chief operating officer now directly owns 925,222 shares in the company, valued at approximately $167,307,894.26. This represents a 2.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $8,633,500.00. Following the completion of the sale, the director now owns 18,089 shares in the company, valued at $3,123,427.63. This represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 932,426 shares of company stock worth $162,990,678. 7.92% of the stock is owned by corporate insiders.

Institutional Trading of DoorDash

Several institutional investors and hedge funds have recently bought and sold shares of the company. IFP Advisors Inc lifted its stake in DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after purchasing an additional 54 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in DoorDash by 34.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after purchasing an additional 69 shares in the last quarter. Avestar Capital LLC lifted its stake in DoorDash by 1.1% in the 4th quarter. Avestar Capital LLC now owns 6,618 shares of the company’s stock worth $1,110,000 after purchasing an additional 75 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of DoorDash by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock valued at $1,970,000 after buying an additional 84 shares in the last quarter. Finally, Pallas Capital Advisors LLC raised its position in shares of DoorDash by 3.7% during the 4th quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock valued at $414,000 after buying an additional 88 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.