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

DoorDash (NASDAQ:DASH) had its price objective hoisted by analysts at UBS Group from $200.00 to $204.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential downside of 0.80% from the company’s previous close.

DASH has been the topic of a number of other research reports. Mizuho increased their target price on DoorDash from $200.00 to $222.00 and gave the company an “outperform” rating in a report on Wednesday. JMP Securities reiterated a “market outperform” rating and set a $200.00 target price on shares of DoorDash in a report on Thursday, February 6th. Bank of America increased their price target on DoorDash from $172.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Benchmark increased their price target on DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley increased their price target on DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $205.45.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $205.64 on Wednesday. The business’s fifty day moving average price is $178.59 and its two-hundred day moving average price is $156.71. The stock 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 one year low of $99.32 and a one year high of $206.00.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $168.32, for a total value of $8,416,000.00. Following the transaction, the director now directly owns 16,176 shares of the company’s stock, valued at $2,722,744.32. This trade represents a 75.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Keith Yandell sold 7,980 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $1,356,440.40. Following the sale, the insider now 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 have sold 932,426 shares of company stock valued at $162,990,678 over the last three months. 7.92% of the stock is owned by company insiders.

Institutional Trading of DoorDash

Several large investors have recently modified their holdings of DASH. Rakuten Securities Inc. grew its stake in shares of DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after acquiring an additional 130 shares in the last quarter. Pittenger & Anderson Inc. acquired a new stake in shares of DoorDash during the fourth quarter valued at about $29,000. Denver PWM LLC acquired a new stake in shares of DoorDash during the fourth quarter valued at about $30,000. Princeton Global Asset Management LLC acquired a new stake in shares of DoorDash during the fourth quarter valued at about $34,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of DoorDash during the fourth quarter valued at about $36,000. 90.64% of the stock is currently 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.