DoorDash (NASDAQ:DASH) Given New $210.00 Price Target at Wedbush

DoorDash (NASDAQ:DASH) had its price target upped by stock analysts at Wedbush from $160.00 to $210.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Wedbush’s price target indicates a potential upside of 5.65% from the company’s previous close.

Several other equities analysts also recently weighed in on DASH. Truist Financial raised their price objective on DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Jefferies Financial Group increased their price objective on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Mizuho lifted their target price on shares of DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday. Benchmark increased their price target on shares of DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, KeyCorp upped their target price on shares of DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Nine analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $198.06.

DoorDash Price Performance

Shares of DASH stock traded up $5.68 during mid-day trading on Wednesday, hitting $198.77. The stock had a trading volume of 4,793,730 shares, compared to its average volume of 2,861,546. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $201.17. The company’s 50-day simple moving average is $177.52 and its 200-day simple moving average is $156.06. The firm has a market cap of $82.57 billion, a PE ratio of -440.90, a PEG ratio of 2.04 and a beta of 1.72.

Insider Activity

In other DoorDash news, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $170.25, for a total value of $18,443,523.00. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of the company’s 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 transaction, the chief financial officer now owns 366,993 shares of the company’s stock, valued at approximately $67,233,117.60. This trade represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,040,758 shares of company stock worth $181,434,201 in the last ninety days. Corporate insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Large investors have recently bought and sold shares of the stock. Rakuten Securities Inc. grew its position in DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after acquiring an additional 130 shares during the period. Pittenger & Anderson Inc. acquired a new stake in shares of DoorDash in the 4th quarter valued at $29,000. Denver PWM LLC bought a new stake in shares of DoorDash in the 4th quarter worth about $30,000. Princeton Global Asset Management LLC acquired a new stake in shares of DoorDash during the 4th quarter worth about $34,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of DoorDash in the 4th quarter worth approximately $36,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.