DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Citigroup Analyst Says

DoorDash (NASDAQ:DASH) had its price objective lifted by analysts at Citigroup from $211.00 to $240.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 16.71% from the company’s previous close.

Several other research analysts have also recently issued reports on DASH. Wolfe Research upped their target price on shares of DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Loop Capital upped their target price on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Jefferies Financial Group upped their target price on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. BMO Capital Markets upped their target price on shares of DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Benchmark increased their price target on shares of DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday. Nine research 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.45.

DoorDash Trading Up 2.4 %

Shares of DoorDash stock opened at $205.64 on Wednesday. The company has a fifty day simple moving average of $178.59 and a 200-day simple moving average of $156.71. DoorDash has a 12-month low of $99.32 and a 12-month high of $206.00. The stock has a market cap of $85.42 billion, a price-to-earnings ratio of -456.98, a PEG ratio of 2.04 and a beta of 1.72.

Insider Activity

In other news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $172.67, for a total value of $8,633,500.00. Following the completion of the transaction, the director now owns 18,089 shares in the company, valued at $3,123,427.63. This trade represents a 73.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 108,334 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $180.07, for a total transaction of $19,507,703.38. Following the completion of the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $270,105. This represents a 98.63 % decrease in their position. 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.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently added to or reduced their stakes in the business. Rakuten Securities Inc. increased its holdings in DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after acquiring an additional 130 shares in the last quarter. Pittenger & Anderson Inc. purchased a new position in DoorDash during the 4th quarter valued at about $29,000. Denver PWM LLC purchased a new position in DoorDash during the 4th quarter valued at about $30,000. Princeton Global Asset Management LLC purchased a new position in DoorDash during the 4th quarter valued at about $34,000. Finally, ORG Wealth Partners LLC purchased a new position in DoorDash during the 4th quarter valued at about $36,000. 90.64% of the stock is currently owned by hedge funds and other 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.