Susquehanna Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its price objective upped by equities research analysts at Susquehanna from $180.00 to $235.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s target price indicates a potential upside of 16.98% from the stock’s previous close.

A number of other research analysts have also recently issued reports on DASH. Benchmark lifted their price objective on shares of DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday. KeyCorp raised their price target on shares of DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Evercore ISI boosted their price objective on DoorDash from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday. Citigroup raised their target price on DoorDash from $211.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on DoorDash from $155.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $205.45.

DoorDash Stock Up 4.0 %

Shares of DASH opened at $200.89 on Thursday. The stock has a market cap of $83.45 billion, a P/E ratio of -446.42, a P/E/G ratio of 2.04 and a beta of 1.72. The business’s fifty day moving average is $178.00 and its 200 day moving average is $156.37. DoorDash has a 12-month low of $99.32 and a 12-month high of $201.17.

Insiders Place Their Bets

In related news, insider Keith Yandell sold 7,980 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the sale, the insider now owns 124,221 shares of the company’s stock, valued at approximately $21,115,085.58. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $168.32, for a total value of $8,416,000.00. Following the completion of the transaction, the director now owns 16,176 shares of the company’s stock, valued at approximately $2,722,744.32. This represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,040,758 shares of company stock worth $181,434,201 over the last quarter. 7.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoorDash

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