Benchmark Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price target boosted by research analysts at Benchmark from $180.00 to $220.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective would suggest a potential upside of 14.49% from the company’s previous close.

Other analysts have also issued reports about the company. Argus raised DoorDash from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Wolfe Research raised their price objective on DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Truist Financial increased their target price on shares of DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Barclays boosted their price target on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Evercore ISI increased their price target on DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $180.82.

DoorDash Trading Down 0.2 %

NASDAQ DASH traded down $0.48 during trading hours on Tuesday, hitting $192.15. 1,735,526 shares of the company’s stock were exchanged, compared to its average volume of 2,623,852. The firm has a market cap of $79.82 billion, a price-to-earnings ratio of -426.78, a PEG ratio of 2.04 and a beta of 1.72. DoorDash has a 1-year low of $99.32 and a 1-year high of $199.17. The stock has a 50-day simple moving average of $177.18 and a 200 day simple moving average of $155.44.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $168.32, for a total value of $8,416,000.00. Following the completion of the sale, the director now owns 16,176 shares in the company, valued at approximately $2,722,744.32. The trade was a 75.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $255,375. The trade was a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,040,758 shares of company stock valued at $181,434,201 over the last 90 days. 7.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently bought and sold shares of DASH. Asset Management One Co. Ltd. lifted its holdings in shares of DoorDash by 10.6% during the third quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after buying an additional 10,755 shares during the last quarter. Swedbank AB raised its holdings in shares of DoorDash by 3.3% during the fourth quarter. Swedbank AB now owns 171,055 shares of the company’s stock worth $28,694,000 after acquiring an additional 5,539 shares during the period. Forsta AP Fonden increased its holdings in DoorDash by 18.6% during the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after buying an additional 10,100 shares during the last quarter. Sanctuary Advisors LLC increased its position in DoorDash by 48.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock worth $1,522,000 after buying an additional 3,498 shares during the period. Finally, Baillie Gifford & Co. raised its stake in DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares in the last quarter. 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.