Needham & Company LLC Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its target price boosted by Needham & Company LLC from $180.00 to $225.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on DASH. JPMorgan Chase & Co. boosted their price objective on shares of DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Mizuho lifted their target price on shares of DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group lifted their target price on shares of DoorDash from $182.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Wells Fargo & Company lifted their target price on shares of DoorDash from $150.00 to $166.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada lifted their target price on shares of DoorDash from $175.00 to $215.00 and gave the stock an “outperform” rating in a report 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.67.

DoorDash Stock Performance

DASH stock opened at $200.89 on Wednesday. The company has a 50 day moving average price of $178.00 and a 200 day moving average price of $156.37. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $201.17.

Insider Activity

In other news, General Counsel Tia Sherringham sold 12,950 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $2,201,241.00. Following the sale, the general counsel now directly owns 145,917 shares of the company’s stock, valued at approximately $24,802,971.66. This represents a 8.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were 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 directly owns 1,500 shares in the company, valued at approximately $255,375. The trade was a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,040,758 shares of company stock valued at $181,434,201. 7.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Resona Asset Management Co. Ltd. acquired a new position in DoorDash in the 4th quarter valued at about $15,134,000. Prudential PLC grew its stake in DoorDash by 33.5% in the 4th quarter. Prudential PLC now owns 6,871 shares of the company’s stock valued at $1,153,000 after buying an additional 1,723 shares during the last quarter. ExodusPoint Capital Management LP grew its stake in DoorDash by 39.8% in the 4th quarter. ExodusPoint Capital Management LP now owns 85,917 shares of the company’s stock valued at $14,413,000 after buying an additional 24,466 shares during the last quarter. Motley Fool Asset Management LLC grew its stake in DoorDash by 12.9% in the 4th quarter. Motley Fool Asset Management LLC now owns 18,696 shares of the company’s stock valued at $3,136,000 after buying an additional 2,134 shares during the last quarter. Finally, Huntington National Bank grew its stake in DoorDash by 90.9% in the 4th quarter. Huntington National Bank now owns 485 shares of the company’s stock valued at $81,000 after buying an additional 231 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Company Profile

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.