Evercore ISI Boosts DoorDash (NASDAQ:DASH) Price Target to $240.00

DoorDash (NASDAQ:DASH) had its target price raised by Evercore ISI from $200.00 to $240.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price target points to a potential upside of 16.71% from the company’s current price.

A number of other analysts have also weighed in on DASH. BMO Capital Markets raised their target price on shares of DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Barclays lifted their price target on DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Needham & Company LLC upped their price objective on DoorDash from $180.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley raised their price objective on shares of DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Bank of America upped their target price on DoorDash from $172.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average price target of $205.45.

DoorDash Stock Performance

DoorDash stock opened at $205.64 on Wednesday. DoorDash has a 52 week low of $99.32 and a 52 week high of $206.00. The stock has a market capitalization of $85.42 billion, a P/E ratio of -456.98, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72. The stock has a fifty day moving average of $178.59 and a 200-day moving average of $156.71.

Insider Activity at DoorDash

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

Institutional Trading of DoorDash

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in DoorDash during the fourth quarter valued at about $597,443,000. Arrowstreet Capital Limited Partnership increased its position in DoorDash by 67.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after buying an additional 1,869,866 shares during the last quarter. Baillie Gifford & Co. increased its position in DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after buying an additional 1,645,186 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of DoorDash by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock valued at $796,781,000 after buying an additional 949,414 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of DoorDash during the 4th quarter valued at $146,094,000. 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.