DoorDash (NASDAQ:DASH) Reaches New 52-Week High – Time to Buy?

DoorDash, Inc. (NASDAQ:DASH) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $215.25 and last traded at $212.35, with a volume of 473001 shares. The stock had previously closed at $213.38.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DASH. Evercore ISI lifted their price target on DoorDash from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wedbush lifted their price target on DoorDash from $160.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Royal Bank of Canada lifted their price target on DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Benchmark boosted their target price on DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, UBS Group boosted their target price on DoorDash from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Nine equities research 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.45.

DoorDash Stock Performance

The business has a fifty day simple moving average of $180.80 and a 200 day simple moving average of $159.55. The stock has a market cap of $88.05 billion, a price-to-earnings ratio of -471.04, a PEG ratio of 2.04 and a beta of 1.72.

Insider Buying and Selling at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $183.20, for a total transaction of $261,060.00. Following the transaction, the chief financial officer now owns 366,993 shares of the company’s stock, valued at $67,233,117.60. This represents a 0.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stanley Tang sold 1,855 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $315,312.90. Following the completion of the sale, the director now owns 35,413 shares of the company’s stock, valued at approximately $6,019,501.74. This represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 882,426 shares of company stock worth $154,357,178. 7.92% of the stock is owned by insiders.

Institutional Trading of DoorDash

Several large investors have recently added to or reduced their stakes in DASH. Rakuten Securities Inc. increased its holdings in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing 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.