DoorDash (NASDAQ:DASH) Price Target Raised to $230.00

DoorDash (NASDAQ:DASH) had its price objective boosted by Royal Bank of Canada from $215.00 to $230.00 in a research note released on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other brokerages have also commented on DASH. Mizuho raised their price objective on DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday. KeyCorp raised their price objective on DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Loop Capital raised their price objective on DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Wolfe Research raised their price objective on DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Susquehanna raised their price target on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.45.

DoorDash Stock Up 3.8 %

NASDAQ:DASH opened at $213.38 on Wednesday. DoorDash has a 1-year low of $99.32 and a 1-year high of $214.64. The firm has a market capitalization of $88.64 billion, a price-to-earnings ratio of -474.18, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72. The stock has a fifty day simple moving average of $179.29 and a 200 day simple moving average of $157.46.

Insiders Place Their Bets

In other news, COO Prabir Adarkar sold 20,000 shares of DoorDash stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $168.53, for a total transaction of $3,370,600.00. Following the sale, the chief operating officer now owns 925,222 shares of the company’s stock, valued at approximately $155,927,663.66. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred 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 sale, the director now directly owns 18,089 shares in the company, valued at $3,123,427.63. The trade was a 73.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 932,426 shares of company stock valued at $162,990,678 in the last three months. Company insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in DoorDash in the 4th quarter valued at $597,443,000. Capital World Investors boosted its stake in DoorDash by 26.4% in the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock valued at $2,038,712,000 after buying an additional 2,538,160 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in DoorDash by 67.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock valued at $780,858,000 after buying an additional 1,869,866 shares in the last quarter. Baillie Gifford & Co. boosted its stake in DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in DoorDash by 25.0% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Company Profile

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.