DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Truist Financial Analyst Says

DoorDash (NASDAQ:DASH) had its price objective increased by investment analysts at Truist Financial from $217.00 to $235.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 14.28% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Bank of America raised their price objective on DoorDash from $172.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Cantor Fitzgerald raised their price objective on DoorDash from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday. Susquehanna raised their price objective on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Wolfe Research raised their target price on DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, KeyCorp raised their target price on DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.45.

DoorDash Stock Up 2.4 %

Shares of NASDAQ:DASH opened at $205.64 on Wednesday. DoorDash has a 52-week low of $99.32 and a 52-week high of $206.00. The stock has a market cap of $85.42 billion, a price-to-earnings ratio of -456.98, a PEG ratio of 2.04 and a beta of 1.72. The business has a 50-day moving average price of $178.59 and a 200-day moving average price of $156.71.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 108,334 shares of DoorDash stock in a transaction that occurred on 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 of the company’s stock, valued at $270,105. The trade was a 98.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $172.67, for a total value of $8,633,500.00. Following the completion of the sale, the director now directly owns 18,089 shares in the company, valued at $3,123,427.63. This represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 932,426 shares of company stock valued at $162,990,678 over the last ninety days. Insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Institutional investors have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. lifted its position in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after buying an additional 130 shares in the last quarter. Pittenger & Anderson Inc. purchased a new position in DoorDash during the fourth quarter worth approximately $29,000. Denver PWM LLC purchased a new position in DoorDash during the fourth quarter worth approximately $30,000. Princeton Global Asset Management LLC purchased a new position in DoorDash during the fourth quarter worth approximately $34,000. Finally, ORG Wealth Partners LLC purchased a new position in DoorDash during the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Company Profile

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.