Needham & Company LLC Boosts DoorDash (NASDAQ:DASH) Price Target to $225.00

DoorDash (NASDAQ:DASH) had its price objective hoisted by research analysts at Needham & Company LLC from $180.00 to $225.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 9.41% from the company’s current price.

Several other analysts have also issued reports on the company. DA Davidson upped their target price on DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Truist Financial increased their price objective on DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of DoorDash in a research note on Tuesday, January 28th. Argus raised DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Finally, Citigroup increased their price objective on DoorDash from $211.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.45.

DoorDash Price Performance

Shares of DASH opened at $205.64 on Wednesday. The firm has a market cap of $85.42 billion, a P/E ratio of -456.98, a P/E/G ratio of 2.04 and a beta of 1.72. The stock has a 50 day simple moving average of $178.59 and a two-hundred day simple moving average of $156.71. DoorDash has a 1 year low of $99.32 and a 1 year high of $206.00.

Insiders Place Their Bets

In other DoorDash news, insider Keith Yandell sold 7,980 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $1,356,440.40. Following the completion of the transaction, the insider now owns 124,221 shares in the company, valued at approximately $21,115,085.58. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $183.20, for a total value of $261,060.00. Following the transaction, the chief financial officer now owns 366,993 shares of the company’s stock, valued at $67,233,117.60. The trade was a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 932,426 shares of company stock worth $162,990,678. 7.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Several institutional investors and hedge funds have recently modified their holdings of DASH. Cetera Investment Advisers increased its holdings in shares of DoorDash by 7.2% during the second quarter. Cetera Investment Advisers now owns 11,747 shares of the company’s stock valued at $1,278,000 after acquiring an additional 788 shares in the last quarter. CWM LLC increased its holdings in shares of DoorDash by 97.1% during the third quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after acquiring an additional 5,273 shares in the last quarter. Creative Planning increased its holdings in shares of DoorDash by 58.3% during the third quarter. Creative Planning now owns 109,972 shares of the company’s stock valued at $15,696,000 after acquiring an additional 40,489 shares in the last quarter. Swedbank AB increased its holdings in shares of DoorDash by 1.0% during the third quarter. Swedbank AB now owns 165,516 shares of the company’s stock valued at $23,624,000 after acquiring an additional 1,588 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of DoorDash by 65.5% during the third quarter. Vontobel Holding Ltd. now owns 11,645 shares of the company’s stock valued at $1,662,000 after acquiring an additional 4,607 shares in the last quarter. 90.64% of the stock is currently owned by 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.