JPMorgan Chase & Co. Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its price objective hoisted by JPMorgan Chase & Co. from $155.00 to $205.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts have also issued research reports about the company. Piper Sandler boosted their target price on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group increased their price objective on DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Loop Capital upped their price target on DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Morgan Stanley lifted their price objective on DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Benchmark increased their price objective on shares of DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $202.67.

DoorDash Stock Up 4.0 %

Shares of DASH stock opened at $200.89 on Wednesday. DoorDash has a 1-year low of $99.32 and a 1-year high of $201.17. The company has a 50-day moving average of $178.00 and a two-hundred day moving average of $156.37.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 115,432 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total value of $20,432,618.32. Following the sale, the chief executive officer now owns 1,500 shares in the company, valued at $265,515. This represents a 98.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction on 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 approximately $67,233,117.60. This represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,040,758 shares of company stock valued at $181,434,201 in the last ninety days. 7.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of DoorDash by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock worth $5,254,501,000 after purchasing an additional 317,502 shares during the last quarter. Baillie Gifford & Co. lifted its position in DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after buying an additional 1,645,186 shares during the period. State Street Corp boosted its stake in DoorDash by 3.8% in the 3rd quarter. State Street Corp now owns 7,395,891 shares of the company’s stock worth $1,055,616,000 after buying an additional 272,659 shares during the last quarter. Janus Henderson Group PLC grew its holdings in DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after buying an additional 700,465 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of DoorDash by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock valued at $796,781,000 after acquiring an additional 949,414 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.