UBS Group Raises DoorDash (NASDAQ:DASH) Price Target to $204.00

DoorDash (NASDAQ:DASH) had its price objective upped by equities researchers at UBS Group from $200.00 to $204.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 2.56% from the stock’s previous close.

DASH has been the topic of several other research reports. Truist Financial increased their price target on shares of DoorDash from $180.00 to $217.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. JMP Securities restated a “market outperform” rating and issued a $200.00 price target on shares of DoorDash in a research note on Thursday, February 6th. Morgan Stanley upped their price objective on DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. KeyCorp upped their target price on shares of DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. Finally, Cantor Fitzgerald increased their target price on shares of DoorDash from $200.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $200.91.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded up $5.83 during midday trading on Wednesday, hitting $198.92. The company’s stock had a trading volume of 5,636,689 shares, compared to its average volume of 2,902,595. DoorDash has a 12-month low of $99.32 and a 12-month high of $201.17. The company has a market cap of $82.63 billion, a P/E ratio of -442.39, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72. The business’s 50 day simple moving average is $177.52 and its 200 day simple moving average is $156.06.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $255,375. This trade represents a 98.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the completion of the sale, the director now directly owns 18,089 shares in the company, valued at approximately $3,123,427.63. The trade was a 73.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,040,758 shares of company stock worth $181,434,201. 7.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DASH. Rakuten Securities Inc. boosted its position in shares of 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 last quarter. Pittenger & Anderson Inc. bought a new position in DoorDash during the fourth quarter worth about $29,000. Denver PWM LLC acquired a new position in shares of DoorDash during the 4th quarter worth about $30,000. Princeton Global Asset Management LLC bought a new stake in shares of DoorDash in the 4th quarter valued at about $34,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of DoorDash in the 4th quarter valued at approximately $36,000. 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.