DoorDash (NASDAQ:DASH) Given New $240.00 Price Target at Citigroup

DoorDash (NASDAQ:DASH) had its price objective upped by equities researchers at Citigroup from $211.00 to $240.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 24.29% from the company’s current price.

Several other analysts have also weighed in on DASH. DA Davidson upped their price objective on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC increased their target price on shares of DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Morgan Stanley lifted their price target on shares of DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. BMO Capital Markets raised their price objective on DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Benchmark boosted their target price on DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday. 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $184.55.

DoorDash Stock Performance

DASH stock opened at $193.09 on Wednesday. The firm’s 50-day moving average is $177.52 and its two-hundred day moving average is $156.06. DoorDash has a 52 week low of $99.32 and a 52 week high of $199.17.

Insider Buying and Selling

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 18,089 shares in the company, valued at $3,123,427.63. This trade represents a 73.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $183.20, for a total value of $261,060.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,040,758 shares of company stock worth $181,434,201. Corporate insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of institutional investors have recently made changes to their positions in DASH. Rakuten Securities Inc. increased its stake in shares of DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the period. Pittenger & Anderson Inc. bought a new position in shares of DoorDash in the fourth quarter worth about $29,000. Denver PWM LLC bought a new position in shares of DoorDash in the fourth quarter worth about $30,000. Princeton Global Asset Management LLC bought a new position in shares of DoorDash in the fourth quarter worth about $34,000. Finally, ORG Wealth Partners LLC bought a new position in shares of DoorDash in the fourth quarter worth about $36,000. 90.64% of the stock is currently owned by 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.