DoorDash (NASDAQ:DASH) Reaches New 52-Week High – Here’s Why

DoorDash, Inc. (NASDAQ:DASH)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $215.25 and last traded at $212.35, with a volume of 473001 shares traded. The stock had previously closed at $213.38.

Analysts Set New Price Targets

DASH has been the subject of several recent research reports. Truist Financial increased their price target on DoorDash from $217.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada increased their price target on DoorDash from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. BMO Capital Markets reissued an “outperform” rating and set a $240.00 price target (up from $180.00) on shares of DoorDash in a research report on Wednesday, February 12th. Needham & Company LLC increased their price target on DoorDash from $180.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Evercore ISI increased their price target on DoorDash from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.45.

DoorDash Trading Down 5.2 %

The stock has a 50 day simple moving average of $181.54 and a 200 day simple moving average of $159.93. The stock has a market cap of $84.01 billion, a P/E ratio of 749.07 and a beta of 1.72.

Insider Activity

In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $176.66, for a total value of $8,833,000.00. Following the transaction, the director now owns 16,176 shares in the company, valued at approximately $2,857,652.16. This trade represents a 75.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Keith Yandell sold 5,509 shares of DoorDash stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.24, for a total value of $970,906.16. Following the completion of the transaction, the insider now owns 118,712 shares in the company, valued at approximately $20,921,802.88. The trade was a 4.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 817,544 shares of company stock worth $143,328,536. Insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rakuten Securities Inc. boosted its holdings in shares of DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after acquiring an additional 130 shares in the last quarter. Pittenger & Anderson Inc. acquired a new stake in shares of DoorDash during the 4th quarter valued at $29,000. Denver PWM LLC acquired a new stake in shares of DoorDash during the 4th quarter valued at $30,000. Princeton Global Asset Management LLC acquired a new stake in shares of DoorDash during the 4th quarter valued at $34,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of DoorDash during the 4th quarter valued at $36,000. 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.