Cantor Fitzgerald Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its target price upped by investment analysts at Cantor Fitzgerald from $200.00 to $230.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 11.85% from the company’s previous close.

A number of other analysts also recently issued reports on DASH. Susquehanna raised their target price on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Truist Financial raised their price target on shares of DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Wolfe Research lifted 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. Evercore ISI raised their price objective on shares of DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, KeyCorp increased their target price on shares of DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $205.45.

DoorDash Price Performance

NASDAQ DASH opened at $205.64 on Wednesday. DoorDash has a 1-year low of $99.32 and a 1-year high of $206.00. The company has a market cap of $85.42 billion, a PE ratio of -456.98, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72. The stock’s 50 day simple moving average is $178.59 and its 200-day simple moving average is $156.71.

Insider Activity

In other news, CEO Tony Xu sold 108,334 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $180.07, for a total value of $19,507,703.38. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $270,105. The trade was a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Andy Fang sold 50,000 shares of DoorDash 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 sale, the director now owns 18,089 shares of the company’s stock, valued at approximately $3,123,427.63. This trade represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 932,426 shares of company stock worth $162,990,678 in the last 90 days. 7.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rakuten Securities Inc. boosted its holdings in shares of 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 during the last quarter. Pittenger & Anderson Inc. purchased a new stake in shares of DoorDash in the fourth quarter worth about $29,000. Denver PWM LLC purchased a new stake in shares of DoorDash in the fourth quarter worth about $30,000. Princeton Global Asset Management LLC acquired a new stake in shares of DoorDash in the fourth quarter valued at about $34,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of DoorDash in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.