DoorDash (NASDAQ:DASH) Price Target Raised to $222.00

DoorDash (NASDAQ:DASH) had its price target hoisted by Mizuho from $200.00 to $222.00 in a research note issued to investors on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other analysts also recently issued reports on the company. JMP Securities reissued a “market outperform” rating and issued a $200.00 price target on shares of DoorDash in a report on Thursday, February 6th. Royal Bank of Canada raised their price target on DoorDash from $175.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Citigroup raised their price target on DoorDash from $211.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company raised their price target on DoorDash from $150.00 to $166.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, Argus raised DoorDash from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $202.67.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $200.89 on Wednesday. DoorDash has a 12-month low of $99.32 and a 12-month high of $201.17. The stock’s 50 day simple moving average is $178.00 and its 200 day simple moving average is $156.37.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 115,432 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total transaction of $20,432,618.32. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $265,515. This trade represents a 98.72 % 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 firm’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 of the company’s stock, valued at approximately $67,233,117.60. This represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,040,758 shares of company stock valued at $181,434,201 in the last three months. 7.92% of the stock is currently owned by corporate insiders.

Institutional Trading of DoorDash

Hedge funds and other institutional investors have recently modified their holdings of the business. Rakuten Securities Inc. boosted its position in shares of DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after buying an additional 130 shares during the period. Pittenger & Anderson Inc. acquired a new stake in shares of DoorDash in the fourth quarter worth $29,000. Denver PWM LLC acquired a new stake in shares of DoorDash in the fourth quarter worth $30,000. Princeton Global Asset Management LLC acquired a new stake in shares of DoorDash in the fourth quarter worth $34,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of DoorDash in the fourth quarter worth $36,000. 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.