Benchmark Raises DoorDash (NASDAQ:DASH) Price Target to $220.00

DoorDash (NASDAQ:DASH) had its price objective hoisted by equities research analysts at Benchmark from $180.00 to $220.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s target price would suggest a potential upside of 14.49% from the company’s current price.

DASH has been the subject of a number of other research reports. Argus raised shares of DoorDash from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Wolfe Research upped their price objective on DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of DoorDash in a research report on Tuesday, January 28th. Wells Fargo & Company lifted their price target on DoorDash from $150.00 to $166.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Finally, BMO Capital Markets upped their target price on shares of DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and an average price target of $180.82.

DoorDash Price Performance

Shares of NASDAQ DASH traded down $0.48 during trading on Tuesday, reaching $192.15. 1,735,526 shares of the stock traded hands, compared to its average volume of 2,623,852. The company has a 50-day moving average of $177.18 and a 200-day moving average of $155.44. DoorDash has a 52-week low of $99.32 and a 52-week high of $199.17. The stock has a market capitalization of $79.82 billion, a P/E ratio of -426.78, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72.

Insider Activity

In other DoorDash news, insider Keith Yandell sold 7,980 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 124,221 shares of the company’s stock, valued at $21,115,085.58. This represents a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were 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 directly owns 16,176 shares in the company, valued at approximately $2,722,744.32. The trade was a 75.56 % 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. Corporate insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Several hedge funds have recently made changes to their positions in DASH. iA Global Asset Management Inc. increased its stake in DoorDash by 29.8% in the 4th quarter. iA Global Asset Management Inc. now owns 50,907 shares of the company’s stock valued at $8,540,000 after purchasing an additional 11,699 shares in the last quarter. Teacher Retirement System of Texas grew its stake in DoorDash by 2,145.2% in the 4th quarter. Teacher Retirement System of Texas now owns 45,892 shares of the company’s stock worth $7,698,000 after acquiring an additional 43,848 shares during the period. Royal London Asset Management Ltd. lifted its stake in shares of DoorDash by 4.9% during the 4th quarter. Royal London Asset Management Ltd. now owns 149,593 shares of the company’s stock worth $25,094,000 after purchasing an additional 7,051 shares during the period. Harvest Fund Management Co. Ltd boosted its holdings in shares of DoorDash by 43.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 33,658 shares of the company’s stock worth $5,598,000 after purchasing an additional 10,228 shares during the last quarter. Finally, Vinva Investment Management Ltd grew its position in shares of DoorDash by 167.8% in the fourth quarter. Vinva Investment Management Ltd now owns 36,491 shares of the company’s stock valued at $6,189,000 after purchasing an additional 22,863 shares during the period. 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.