DoorDash (NASDAQ:DASH) Given New $235.00 Price Target at Oppenheimer

DoorDash (NASDAQ:DASH) had its price objective raised by analysts at Oppenheimer from $180.00 to $235.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 18.27% from the company’s previous close.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their price target on shares of DoorDash from $155.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $240.00 price target (up previously from $180.00) on shares of DoorDash in a research report on Wednesday. JMP Securities reiterated a “market outperform” rating and set a $200.00 price target on shares of DoorDash in a research note on Thursday, February 6th. UBS Group raised their price objective on DoorDash from $182.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Wedbush upped their target price on DoorDash from $160.00 to $210.00 and gave the stock a “neutral” rating 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.79.

DoorDash Price Performance

DoorDash stock traded up $5.61 during trading hours on Wednesday, hitting $198.70. The company had a trading volume of 5,145,543 shares, compared to its average volume of 2,889,033. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $201.17. The firm has a market capitalization of $82.54 billion, a P/E ratio of -440.81, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72. The firm’s fifty day moving average is $177.52 and its 200-day moving average is $156.06.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 115,432 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $177.01, for a total value of $20,432,618.32. Following the transaction, the chief executive officer now directly owns 1,500 shares in the company, valued at $265,515. This represents a 98.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Monday, November 18th. The stock was sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the sale, the director now directly owns 18,089 shares of the company’s stock, valued at $3,123,427.63. This represents a 73.43 % decrease in their position. 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 over the last quarter. Corporate insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Norges Bank bought a new position in DoorDash during the 4th quarter worth approximately $597,443,000. Baillie Gifford & Co. boosted its position in shares of DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of DoorDash in the 4th quarter valued at $146,094,000. Allspring Global Investments Holdings LLC increased its position in shares of DoorDash by 216.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock valued at $154,486,000 after buying an additional 739,961 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in DoorDash by 14.5% during the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after buying an additional 700,465 shares during the period. 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.