DoorDash (NASDAQ:DASH) Hits New 12-Month High Following Analyst Upgrade

Shares of DoorDash, Inc. (NASDAQ:DASH) reached a new 52-week high during trading on Tuesday after UBS Group raised their price target on the stock from $182.00 to $200.00. UBS Group currently has a neutral rating on the stock. DoorDash traded as high as $192.78 and last traded at $190.80, with a volume of 4230171 shares trading hands. The stock had previously closed at $188.83.

Several other equities research analysts have also issued reports on the stock. Loop Capital lifted their price objective on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI increased their price target on shares of DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Truist Financial raised their price objective on shares of DoorDash from $180.00 to $217.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Citigroup raised their price objective on shares of DoorDash from $155.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, The Goldman Sachs Group lifted their price target 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 equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.39.

Insider Activity

In other news, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 366,993 shares in the company, valued at approximately $67,233,117.60. This represents a 0.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $172.67, for a total value of $8,633,500.00. Following the sale, the director now owns 18,089 shares in the company, valued at $3,123,427.63. The trade was a 73.43 % 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 worth $181,434,201 over the last three months. 7.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Large investors have recently modified their holdings of the stock. Rakuten Securities Inc. boosted its position 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 buying an additional 130 shares during the period. Pittenger & Anderson Inc. acquired a new stake in shares of DoorDash in the fourth quarter worth $29,000. Princeton Global Asset Management LLC acquired a new stake in shares of DoorDash in the fourth quarter worth $34,000. ORG Wealth Partners LLC acquired a new stake in shares of DoorDash in the fourth quarter worth $36,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of DoorDash by 34.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after buying an additional 69 shares during the period. 90.64% of the stock is owned by institutional investors.

DoorDash Stock Up 1.0 %

The firm has a market cap of $79.26 billion, a price-to-earnings ratio of -424.00, a PEG ratio of 1.97 and a beta of 1.72. The company has a 50-day moving average price of $175.53 and a 200 day moving average price of $152.23.

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.