DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

DoorDash (NASDAQ:DASH) had its price target raised by Wells Fargo & Company from $198.00 to $201.00 in a research note released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also commented on DASH. Wolfe Research boosted their price objective on shares of DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Loop Capital raised their price objective on DoorDash from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, February 24th. Piper Sandler reiterated a “neutral” rating and set a $210.00 target price (up previously from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Evercore ISI restated an “outperform” rating on shares of DoorDash in a research note on Monday, March 10th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $240.00 price objective (up previously from $180.00) on shares of DoorDash in a research note on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $207.29.

DoorDash Stock Performance

Shares of DoorDash stock opened at $163.16 on Thursday. DoorDash has a 52-week low of $99.32 and a 52-week high of $215.25. The business’s 50 day simple moving average is $191.90 and its 200 day simple moving average is $173.77. The firm has a market cap of $68.54 billion, a PE ratio of 604.30 and a beta of 1.69.

Insider Activity at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total value of $8,228,746.10. Following the completion of the sale, the director now directly owns 18,285 shares in the company, valued at approximately $3,313,424.85. The trade was a 71.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $170.01, for a total value of $8,500,500.00. Following the transaction, the director now owns 16,176 shares in the company, valued at approximately $2,750,081.76. This trade represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 258,523 shares of company stock worth $47,227,120. Corporate insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DASH. Captrust Financial Advisors raised its position in shares of DoorDash by 9.6% in the 3rd quarter. Captrust Financial Advisors now owns 8,162 shares of the company’s stock valued at $1,165,000 after buying an additional 718 shares in the last quarter. HighTower Advisors LLC raised its position in DoorDash by 4.6% during the third quarter. HighTower Advisors LLC now owns 21,538 shares of the company’s stock valued at $3,054,000 after purchasing an additional 944 shares in the last quarter. Investment Management Corp of Ontario raised its position in DoorDash by 108.5% during the third quarter. Investment Management Corp of Ontario now owns 13,253 shares of the company’s stock valued at $1,892,000 after purchasing an additional 6,896 shares in the last quarter. Motley Fool Asset Management LLC lifted its stake in DoorDash by 4.2% during the third quarter. Motley Fool Asset Management LLC now owns 16,562 shares of the company’s stock worth $2,351,000 after purchasing an additional 674 shares during the last quarter. Finally, Polymer Capital Management HK LTD acquired a new stake in shares of DoorDash in the 3rd quarter valued at $343,000. 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.