DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Evercore ISI Analyst Says

DoorDash (NASDAQ:DASH) had its price target increased by research analysts at Evercore ISI from $200.00 to $240.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s target price indicates a potential upside of 16.71% from the stock’s current price.

Several other analysts have also issued reports on DASH. Wolfe Research upped their price target on shares of DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Wells Fargo & Company upped 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. Argus upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a report on Friday, December 20th. KeyCorp lifted their price objective on DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Finally, Susquehanna increased their target price on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.45.

DoorDash Price Performance

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

Insider Buying and Selling

In other news, General Counsel Tia Sherringham sold 12,950 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $2,201,241.00. Following the sale, the general counsel now directly owns 145,917 shares in the company, valued at $24,802,971.66. This trade represents a 8.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $3,123,427.63. This trade represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 932,426 shares of company stock worth $162,990,678. 7.92% of the stock is owned by insiders.

Hedge Funds Weigh In On DoorDash

Several institutional investors have recently bought and sold shares of the stock. Rakuten Securities Inc. boosted its position in shares of DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after acquiring an additional 130 shares during the last quarter. Pittenger & Anderson Inc. purchased a new stake in DoorDash in the 4th quarter valued at about $29,000. Denver PWM LLC bought a new position in DoorDash in the 4th quarter worth about $30,000. Princeton Global Asset Management LLC bought a new position in shares of DoorDash during the 4th quarter worth $34,000. Finally, ORG Wealth Partners LLC purchased a new position in DoorDash during the fourth quarter valued at approximately $36,000. 90.64% of the stock is owned by hedge funds and other 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.