Evercore ISI Boosts DoorDash (NASDAQ:DASH) Price Target to $240.00

DoorDash (NASDAQ:DASH) had its price objective increased by Evercore ISI from $200.00 to $240.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts also recently commented on DASH. Cantor Fitzgerald raised their price objective on shares of DoorDash from $200.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday. Loop Capital raised their price objective on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Susquehanna raised their price objective on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Morgan Stanley raised their price objective on shares of DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, The Goldman Sachs Group increased their target price on shares of DoorDash from $161.00 to $192.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.45.

DoorDash Stock Up 3.8 %

Shares of NASDAQ:DASH opened at $213.38 on Wednesday. The company has a market cap of $88.64 billion, a P/E ratio of -474.18, a PEG ratio of 2.04 and a beta of 1.72. DoorDash has a 52 week low of $99.32 and a 52 week high of $214.64. The company has a 50-day moving average price of $179.29 and a 200 day moving average price of $157.46.

Insider Buying and Selling

In other DoorDash news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Monday, November 18th. The shares were sold at an average price of $172.67, for a total value of $8,633,500.00. Following the transaction, the director now owns 18,089 shares in the company, valued at $3,123,427.63. This trade represents a 73.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction 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 completion of the transaction, the chief financial officer now owns 366,993 shares in the company, valued at approximately $67,233,117.60. This trade represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 932,426 shares of company stock worth $162,990,678. 7.92% of the stock is owned by insiders.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of DoorDash by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock valued at $5,254,501,000 after purchasing an additional 317,502 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after acquiring an additional 1,645,186 shares in the last quarter. Capital World Investors lifted its holdings in shares of DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock valued at $2,038,712,000 after acquiring an additional 2,538,160 shares in the last quarter. State Street Corp lifted its holdings in shares of DoorDash by 3.8% during the 3rd quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after acquiring an additional 272,659 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of DoorDash by 14.5% during the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after acquiring an additional 700,465 shares in the last quarter. Institutional investors and hedge funds 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.