DoorDash (NASDAQ:DASH) Given New $193.00 Price Target at Roth Mkm

DoorDash (NASDAQ:DASH) had its price target hoisted by equities research analysts at Roth Mkm from $165.00 to $193.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Roth Mkm’s price target points to a potential downside of 2.90% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. The Goldman Sachs Group raised their price objective on DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a research note on Wednesday. Bank of America raised their price objective on shares of DoorDash from $172.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Evercore ISI boosted their price objective on DoorDash from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on DoorDash from $155.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Needham & Company LLC lifted their target price on DoorDash from $180.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average price target of $198.06.

DoorDash Stock Up 2.9 %

Shares of DASH traded up $5.68 during mid-day trading on Wednesday, reaching $198.77. 4,793,730 shares of the stock traded hands, compared to its average volume of 2,861,546. The stock has a fifty day simple moving average of $177.52 and a 200 day simple moving average of $156.06. DoorDash has a 12-month low of $99.32 and a 12-month high of $201.17. The firm has a market cap of $82.57 billion, a price-to-earnings ratio of -440.90, a P/E/G ratio of 2.04 and a beta of 1.72.

Insider Activity

In other news, insider Keith Yandell sold 7,980 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the completion of the sale, the insider now directly owns 124,221 shares of the company’s stock, valued at $21,115,085.58. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 366,993 shares in the company, valued at $67,233,117.60. This trade represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,040,758 shares of company stock worth $181,434,201. Corporate insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its position in DoorDash by 7.2% during the 2nd quarter. Cetera Investment Advisers now owns 11,747 shares of the company’s stock worth $1,278,000 after acquiring an additional 788 shares during the period. CWM LLC grew its stake in DoorDash by 97.1% in the 3rd quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after buying an additional 5,273 shares during the last quarter. Creative Planning increased its stake in shares of DoorDash by 58.3% in the third quarter. Creative Planning now owns 109,972 shares of the company’s stock worth $15,696,000 after purchasing an additional 40,489 shares during the period. Swedbank AB increased its position in DoorDash by 1.0% in the 3rd quarter. Swedbank AB now owns 165,516 shares of the company’s stock worth $23,624,000 after buying an additional 1,588 shares during the period. Finally, Vontobel Holding Ltd. increased its position in DoorDash by 65.5% during the third quarter. Vontobel Holding Ltd. now owns 11,645 shares of the company’s stock worth $1,662,000 after acquiring an additional 4,607 shares during the period. 90.64% of the stock is currently 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.