DoorDash (NASDAQ:DASH) Price Target Raised to $245.00

DoorDash (NASDAQ:DASH) had its price target increased by Bank of America from $205.00 to $245.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

DASH has been the topic of several other reports. Barclays raised their price objective on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Morgan Stanley boosted their price target on 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 upped their price objective on DoorDash from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday. Piper Sandler reiterated a “neutral” rating and issued a $210.00 target price (up from $160.00) on shares of DoorDash in a research note on Wednesday. Finally, Needham & Company LLC boosted their target price on DoorDash from $180.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.67.

DoorDash Price Performance

Shares of DASH opened at $200.89 on Wednesday. The firm has a fifty day moving average price of $178.00 and a 200 day moving average price of $156.37. DoorDash has a 1-year low of $99.32 and a 1-year high of $201.17.

Insider Activity at DoorDash

In other news, CFO Ravi Inukonda sold 1,425 shares of DoorDash 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. The trade was a 0.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Prabir Adarkar sold 20,000 shares of the stock in a transaction that occurred on 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. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,040,758 shares of company stock worth $181,434,201. 7.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rakuten Securities Inc. boosted its position in shares of DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after buying an additional 130 shares during the period. Pittenger & Anderson Inc. purchased a new stake in DoorDash during the 4th quarter worth $29,000. Denver PWM LLC acquired a new position in DoorDash in the 4th quarter worth $30,000. Princeton Global Asset Management LLC acquired a new stake in shares of DoorDash during the fourth quarter valued at about $34,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of DoorDash during the fourth quarter worth about $36,000. 90.64% of the stock is owned by institutional investors and hedge funds.

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.