Bank of America Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its target price hoisted by equities researchers at Bank of America from $205.00 to $245.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 23.78% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price target on shares of DoorDash in a research report on Thursday, February 6th. Jefferies Financial Group increased their target price on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Susquehanna increased their target price on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Mizuho increased 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. Finally, DA Davidson increased their target price on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Nine investment 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 has a consensus rating of “Moderate Buy” and a consensus target price of $202.67.

DoorDash Stock Performance

Shares of NASDAQ DASH traded up $4.84 during midday trading on Wednesday, hitting $197.93. 6,377,197 shares of the company’s stock traded hands, compared to its average volume of 2,933,414. DoorDash has a 1 year low of $99.32 and a 1 year high of $201.17. The stock has a market capitalization of $82.22 billion, a price-to-earnings ratio of -439.84, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72. The firm has a fifty day moving average of $177.52 and a 200 day moving average of $156.06.

Insider Activity

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $172.67, for a total value of $8,633,500.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $3,123,427.63. The trade was a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $255,375. This represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,040,758 shares of company stock worth $181,434,201. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Large investors have recently modified their holdings of the business. Asset Management One Co. Ltd. grew its stake in shares of DoorDash by 10.6% during the third quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after acquiring an additional 10,755 shares during the last quarter. Swedbank AB boosted its position in DoorDash by 3.3% in the 4th quarter. Swedbank AB now owns 171,055 shares of the company’s stock worth $28,694,000 after purchasing an additional 5,539 shares in the last quarter. Forsta AP Fonden boosted its position in DoorDash by 18.6% in the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after purchasing an additional 10,100 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of DoorDash by 48.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock worth $1,522,000 after buying an additional 3,498 shares during the period. Finally, Baillie Gifford & Co. raised its stake in shares of DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after buying an additional 1,645,186 shares during the period. Hedge funds and other institutional investors 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.