DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

DoorDash (NASDAQ:DASH) had its target price increased by analysts at JPMorgan Chase & Co. from $155.00 to $205.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 0.31% from the stock’s previous close.

DASH has been the subject of a number of other reports. Royal Bank of Canada upped their target price on DoorDash from $175.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. JMP Securities reissued a “market outperform” rating and issued a $200.00 price objective on shares of DoorDash in a report on Thursday, February 6th. DA Davidson lifted their price objective on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Loop Capital upped their price objective on shares of DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Mizuho increased their target price on DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.45.

DoorDash Price Performance

Shares of 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 stock 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 firm has a fifty day moving average price of $178.59 and a 200 day moving average price of $156.71.

Insider Activity

In other news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $3,123,427.63. The trade was a 73.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $183.20, for a total value of $261,060.00. Following the sale, the chief financial officer now owns 366,993 shares in the company, valued at $67,233,117.60. This represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 932,426 shares of company stock worth $162,990,678 over the last three months. 7.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Rakuten Securities Inc. grew its holdings in shares of DoorDash by 302.3% during the third 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. bought a new position in shares of DoorDash in the fourth quarter valued at $29,000. Denver PWM LLC acquired a new stake in shares of DoorDash during the 4th quarter valued at $30,000. Princeton Global Asset Management LLC bought a new stake in shares of DoorDash during the 4th quarter worth $34,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of DoorDash in the 4th quarter worth $36,000. 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.