DoorDash’s (DASH) Market Outperform Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of DoorDash (NASDAQ:DASH) in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a $200.00 price target on the stock.

DASH has been the subject of several other research reports. Wells Fargo & Company increased their target price on shares of DoorDash from $150.00 to $166.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Citigroup raised their price objective on shares of DoorDash from $155.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. BMO Capital Markets increased their price objective on shares of DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Evercore ISI upped their price target on DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Truist Financial lifted their price objective on DoorDash from $180.00 to $217.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Nine equities research 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 $179.39.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $196.45 on Thursday. The business’s 50-day simple moving average is $176.55 and its 200-day simple moving average is $153.45. DoorDash has a 52 week low of $99.32 and a 52 week high of $196.98.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 115,432 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total value of $20,432,618.32. Following the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $183.20, for a total transaction of $261,060.00. Following the completion of 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 trade 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 worth $181,434,201 over the last three months. 7.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoorDash

Institutional investors have recently bought and sold shares of the business. Rakuten Securities Inc. raised its stake in DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after buying an additional 130 shares during the last quarter. Pittenger & Anderson Inc. purchased a new stake in DoorDash during the fourth quarter worth $29,000. Denver PWM LLC purchased a new position in shares of DoorDash in the 4th quarter valued at about $30,000. Princeton Global Asset Management LLC acquired a new position in shares of DoorDash during the 4th quarter worth approximately $34,000. Finally, ORG Wealth Partners LLC acquired a new position in DoorDash during the fourth quarter worth $36,000. 90.64% of the stock is owned by hedge funds and other 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.