DoorDash (NASDAQ:DASH) Shares Gap Up – Time to Buy?

DoorDash, Inc. (NASDAQ:DASH) gapped up prior to trading on Monday . The stock had previously closed at $178.08, but opened at $182.49. DoorDash shares last traded at $171.60, with a volume of 3,658,173 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. 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. Wolfe Research increased their price target on DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Susquehanna lifted their price objective on DoorDash from $180.00 to $235.00 and gave the company a “positive” rating in a report on Thursday, February 13th. Wedbush upped their target price on DoorDash from $160.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company raised their price target on DoorDash from $166.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $206.52.

DoorDash Price Performance

The company has a 50 day simple moving average of $186.78 and a 200-day simple moving average of $165.90. The firm has a market cap of $74.82 billion, a PE ratio of 657.71 and a beta of 1.70.

Insider Activity at DoorDash

In related news, CFO Ravi Inukonda sold 15,198 shares of DoorDash stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $204.11, for a total transaction of $3,102,063.78. Following the completion of the transaction, the chief financial officer now directly owns 351,970 shares of the company’s stock, valued at $71,840,596.70. This trade represents a 4.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $176.66, for a total value of $8,833,000.00. Following the completion of the sale, the director now directly owns 16,176 shares in the company, valued at approximately $2,857,652.16. This represents a 75.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 572,062 shares of company stock valued at $101,051,440. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. raised its holdings in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the period. Pittenger & Anderson Inc. purchased 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 during the 4th quarter valued at approximately $30,000. Princeton Global Asset Management LLC purchased a new stake in DoorDash during the 4th quarter valued at $34,000. Finally, ORG Wealth Partners LLC bought a new stake in DoorDash in the fourth quarter worth $36,000. Institutional investors 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.