Wedbush Boosts DoorDash (NASDAQ:DASH) Price Target to $210.00

DoorDash (NASDAQ:DASH) had its price target boosted by stock analysts at Wedbush from $160.00 to $210.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price objective would indicate a potential upside of 2.12% from the company’s current price.

DASH has been the subject of a number of other research reports. Bank of America increased their target price on DoorDash from $172.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Cantor Fitzgerald increased their target price on DoorDash from $200.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group increased their target price on DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday. Mizuho increased their target price on DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Truist Financial increased their target price on DoorDash from $180.00 to $217.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.45.

DoorDash Stock Up 2.4 %

DASH opened at $205.64 on Wednesday. DoorDash has a 12 month low of $99.32 and a 12 month high of $206.00. The company has a fifty day simple moving average of $178.59 and a 200 day simple moving average of $156.71. The stock 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.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 $3,123,427.63. This trade represents a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Tia Sherringham sold 12,950 shares of the firm’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 $2,201,241.00. Following the sale, the general counsel now owns 145,917 shares of the company’s stock, valued at $24,802,971.66. This trade represents a 8.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 932,426 shares of company stock worth $162,990,678. Insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several hedge funds have recently bought and sold shares of DASH. 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 acquiring an additional 130 shares during the last quarter. Pittenger & Anderson Inc. acquired a new stake in DoorDash during the fourth quarter worth approximately $29,000. Denver PWM LLC bought a new position in shares of DoorDash during the fourth quarter worth approximately $30,000. Princeton Global Asset Management LLC bought a new position in shares of DoorDash during the fourth quarter worth approximately $34,000. Finally, ORG Wealth Partners LLC bought a new position in shares of DoorDash during the fourth quarter worth approximately $36,000. 90.64% of the stock is currently 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.