Truist Financial Increases DoorDash (NASDAQ:DASH) Price Target to $235.00

DoorDash (NASDAQ:DASH) had its target price upped by Truist Financial from $217.00 to $235.00 in a research report released on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

DASH has been the subject of several other reports. Piper Sandler reaffirmed a “neutral” rating and issued a $210.00 price objective (up from $160.00) on shares of DoorDash in a research note on Wednesday. Cantor Fitzgerald raised their price objective on DoorDash from $200.00 to $230.00 and gave the company an “overweight” rating in a research note on Wednesday. Oppenheimer raised their price target on DoorDash from $180.00 to $235.00 and gave the stock an “outperform” rating in a research report on Wednesday. Benchmark raised their price target on DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Barclays raised their price target on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.45.

DoorDash Price Performance

NASDAQ DASH opened at $213.38 on Wednesday. DoorDash has a 1-year low of $99.32 and a 1-year high of $214.64. The company has a market capitalization of $88.64 billion, a P/E ratio of -474.18, a PEG ratio of 2.04 and a beta of 1.72. The business has a 50 day moving average price of $179.29 and a 200 day moving average price of $157.46.

Insiders Place Their Bets

In other news, COO Prabir Adarkar sold 20,000 shares of DoorDash stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $180.83, for a total transaction of $3,616,600.00. Following the sale, the chief operating officer now directly owns 925,222 shares of the company’s stock, valued at approximately $167,307,894.26. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 108,334 shares of DoorDash stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $180.07, for a total value of $19,507,703.38. Following the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $270,105. The trade was a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 932,426 shares of company stock worth $162,990,678 over the last quarter. 7.92% of the stock is owned by corporate insiders.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GeoWealth Management LLC increased its holdings in DoorDash by 3.7% in the fourth quarter. GeoWealth Management LLC now owns 1,428 shares of the company’s stock valued at $240,000 after buying an additional 51 shares during the last quarter. IFP Advisors Inc increased its holdings in DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after buying an additional 54 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in DoorDash by 34.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock valued at $46,000 after acquiring an additional 69 shares during the period. Avestar Capital LLC boosted its stake in DoorDash by 1.1% in the fourth quarter. Avestar Capital LLC now owns 6,618 shares of the company’s stock valued at $1,110,000 after acquiring an additional 75 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in DoorDash by 0.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock valued at $1,970,000 after acquiring an additional 84 shares during the period. 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.