DoorDash (NASDAQ:DASH) Price Target Raised to $230.00

DoorDash (NASDAQ:DASH) had its price target hoisted by Royal Bank of Canada from $215.00 to $230.00 in a research report report published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently issued reports on DASH. Loop Capital raised their target price on DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. BMO Capital Markets restated an “outperform” rating and issued a $240.00 price objective (up from $180.00) on shares of DoorDash in a report on Wednesday. Wells Fargo & Company upped their target price on shares of DoorDash from $166.00 to $198.00 and gave the company an “equal weight” rating in a research report on Wednesday. The Goldman Sachs Group lifted their price target on shares of DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Wolfe Research upped their price objective on shares of DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.67.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $200.89 on Wednesday. The company has a 50 day simple moving average of $178.00 and a 200-day simple moving average of $156.37. DoorDash has a 1 year low of $99.32 and a 1 year high of $201.17.

Insider Activity at DoorDash

In other news, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $183.20, for a total transaction of $261,060.00. Following the transaction, the chief financial officer now directly owns 366,993 shares in the company, valued at approximately $67,233,117.60. This trade represents a 0.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Prabir Adarkar sold 20,000 shares of DoorDash stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 925,222 shares in the company, valued at $167,307,894.26. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,040,758 shares of company stock valued at $181,434,201 in the last ninety days. Insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rakuten Securities Inc. lifted its position in DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares during the period. Pittenger & Anderson Inc. acquired a new position in shares of DoorDash in the fourth quarter valued at approximately $29,000. Denver PWM LLC purchased a new stake in shares of DoorDash during the fourth quarter worth approximately $30,000. Princeton Global Asset Management LLC acquired a new stake in shares of DoorDash during the fourth quarter worth $34,000. Finally, ORG Wealth Partners LLC purchased a new position in DoorDash in the 4th quarter valued at $36,000. Hedge funds and other 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.