Barclays Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its target price hoisted by equities researchers at Barclays from $163.00 to $200.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 0.44% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. KeyCorp lifted their target price on DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Wolfe Research lifted their price objective on 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 increased their target price on shares of DoorDash from $166.00 to $198.00 and gave the stock an “equal weight” rating in a report on Wednesday. Needham & Company LLC lifted 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. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $240.00 price target (up from $180.00) on shares of DoorDash in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $203.79.

DoorDash Price Performance

Shares of DoorDash stock opened at $200.89 on Thursday. DoorDash has a 1-year low of $99.32 and a 1-year high of $201.17. The company’s fifty day simple moving average is $178.00 and its 200-day simple moving average is $156.37. The stock has a market capitalization of $83.45 billion, a PE ratio of -446.42, a P/E/G ratio of 2.04 and a beta of 1.72.

Insiders Place Their Bets

In related news, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction dated Friday, January 24th. The shares were 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 of the company’s stock, valued at $67,233,117.60. This represents a 0.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $170.25, for a total value of $18,443,523.00. Following the transaction, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $255,375. This represents a 98.63 % 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 owned by insiders.

Institutional Trading of DoorDash

Several institutional investors and hedge funds have recently made changes to their positions in DASH. IFP Advisors Inc increased its stake in DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after buying an additional 54 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in DoorDash by 34.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after acquiring an additional 69 shares in the last quarter. Avestar Capital LLC increased its position in shares of DoorDash by 1.1% during the fourth quarter. Avestar Capital LLC now owns 6,618 shares of the company’s stock worth $1,110,000 after acquiring an additional 75 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of DoorDash by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock valued at $1,970,000 after acquiring an additional 84 shares in the last quarter. Finally, Pallas Capital Advisors LLC boosted its holdings in shares of DoorDash by 3.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock valued at $414,000 after purchasing an additional 88 shares during the period. 90.64% of the stock is currently owned by institutional investors.

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.