The Goldman Sachs Group Boosts DoorDash (NASDAQ:DASH) Price Target to $212.00

DoorDash (NASDAQ:DASH) had its price objective boosted by The Goldman Sachs Group from $192.00 to $212.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 6.65% from the stock’s current price.

A number of other research firms have also commented on DASH. UBS Group raised their price objective on shares of DoorDash from $182.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Jefferies Financial Group boosted their price objective on DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Citigroup raised their target price on DoorDash from $211.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays upped their price target on shares of DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Finally, Piper Sandler reissued a “neutral” rating and set a $210.00 price objective (up from $160.00) on shares of DoorDash in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.06.

DoorDash Stock Up 2.9 %

Shares of NASDAQ:DASH traded up $5.68 on Wednesday, reaching $198.77. 4,793,730 shares of the company’s stock were exchanged, 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 firm has a market capitalization of $82.57 billion, a price-to-earnings ratio of -440.90, a PEG ratio of 2.04 and a beta of 1.72. The business’s 50-day moving average is $177.52 and its two-hundred day moving average is $156.06.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 18,089 shares of the company’s stock, valued at approximately $3,123,427.63. This trade represents a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction on Friday, November 15th. The shares were 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 owns 1,500 shares of the company’s stock, valued at $255,375. The trade was a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,040,758 shares of company stock valued at $181,434,201 in the last quarter. Company insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Hedge funds and other institutional investors have recently modified their holdings of the company. Rakuten Securities Inc. boosted its position in DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $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 4th quarter worth approximately $29,000. Denver PWM LLC bought a new position in shares of DoorDash in the 4th quarter worth approximately $30,000. Princeton Global Asset Management LLC purchased a new position in shares of DoorDash in the fourth quarter worth approximately $34,000. Finally, ORG Wealth Partners LLC bought a new stake in DoorDash during the fourth quarter valued at approximately $36,000. 90.64% of the stock is owned by 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.