DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Roth Mkm Analyst Says

DoorDash (NASDAQ:DASH) had its target price boosted by investment analysts at Roth Mkm from $165.00 to $193.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Roth Mkm’s price objective would suggest a potential downside of 2.90% from the company’s current price.

A number of other equities analysts have also issued reports on DASH. Argus upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Needham & Company LLC upped their price target on shares of DoorDash from $180.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday. Loop Capital raised their price objective on shares of DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Evercore ISI upped their target price on shares of DoorDash from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada lifted their price target on DoorDash from $175.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $198.06.

DoorDash Price Performance

Shares of DASH traded up $5.68 on Wednesday, hitting $198.77. The company’s stock had a trading volume of 4,793,730 shares, compared to its average volume of 2,861,546. The company has a market capitalization of $82.57 billion, a PE ratio of -440.90, a PEG ratio of 2.04 and a beta of 1.72. The company has a 50 day moving average price of $177.52 and a 200 day moving average price of $156.06. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $201.17.

Insider Activity

In other news, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the sale, the chief executive officer now owns 1,500 shares in the company, valued at $255,375. 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 hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was 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 in the company, valued at approximately $67,233,117.60. This trade represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,040,758 shares of company stock valued at $181,434,201 over the last ninety days. 7.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently modified their holdings of DASH. Rakuten Securities Inc. increased 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 period. Pittenger & Anderson Inc. bought a new position in shares of DoorDash during the fourth quarter worth approximately $29,000. Denver PWM LLC acquired a new stake in shares of DoorDash in the fourth quarter valued at approximately $30,000. Princeton Global Asset Management LLC bought a new stake in shares of DoorDash in the fourth quarter valued at approximately $34,000. Finally, ORG Wealth Partners LLC acquired a new stake in DoorDash during the fourth quarter worth approximately $36,000. 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.