DoorDash (NASDAQ:DASH) Sets New 1-Year High After Analyst Upgrade

DoorDash, Inc. (NASDAQ:DASH)’s stock price reached a new 52-week high on Tuesday after UBS Group raised their price target on the stock from $182.00 to $200.00. UBS Group currently has a neutral rating on the stock. DoorDash traded as high as $192.78 and last traded at $190.80, with a volume of 4230171 shares traded. The stock had previously closed at $188.83.

A number of other equities research analysts also recently issued reports on the stock. Morgan Stanley lifted their price target on shares of DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada lifted their price objective on DoorDash from $175.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Wolfe Research upped their target price on DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of DoorDash in a research note on Tuesday, January 28th. Finally, BMO Capital Markets increased their price objective on shares of DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $179.39.

Insider Buying and Selling at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction dated 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 directly owns 366,993 shares of the company’s stock, valued at $67,233,117.60. This trade represents a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,040,758 shares of company stock valued at $181,434,201. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several hedge funds have recently modified their holdings 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 in the last quarter. Pittenger & Anderson Inc. purchased a new position in shares of DoorDash in the fourth quarter valued at $29,000. Denver PWM LLC purchased a new position in shares of DoorDash in the fourth quarter valued at $30,000. Princeton Global Asset Management LLC acquired a new stake in DoorDash during the 4th quarter valued at $34,000. Finally, ORG Wealth Partners LLC purchased a new stake in DoorDash during the 4th quarter worth $36,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Performance

The business’s fifty day simple moving average is $176.19 and its 200 day simple moving average is $153.15. The stock has a market cap of $81.41 billion, a price-to-earnings ratio of -435.53, a price-to-earnings-growth ratio of 1.97 and a beta of 1.72.

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.