DoorDash’s (DASH) “Neutral” Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their neutral rating on shares of DoorDash (NASDAQ:DASH) in a research report released on Wednesday morning,Benzinga reports. Piper Sandler currently has a $210.00 target price on the stock, up from their previous target price of $160.00.

Other analysts have also issued research reports about the stock. DA Davidson raised their price objective on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. UBS Group boosted their target price on shares of DoorDash from $182.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Benchmark raised their price target on shares of DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday. KeyCorp upped their price objective on DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Finally, BMO Capital Markets boosted their target price on DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $202.67.

DoorDash Stock Up 4.0 %

NASDAQ DASH opened at $200.89 on Wednesday. The company has a fifty day simple moving average of $178.00 and a 200 day simple moving average of $156.37. DoorDash has a 1 year low of $99.32 and a 1 year high of $201.17.

Insider Activity

In other news, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction on Friday, January 24th. The stock was 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $255,375. This represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,040,758 shares of company stock valued at $181,434,201 over the last ninety days. 7.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently added to or reduced their stakes in DASH. Asset Management One Co. Ltd. lifted its position in 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 purchasing an additional 10,755 shares during the period. Swedbank AB raised its position in shares of DoorDash by 3.3% in the 4th quarter. Swedbank AB now owns 171,055 shares of the company’s stock valued at $28,694,000 after buying an additional 5,539 shares in the last quarter. Forsta AP Fonden lifted its holdings in shares of DoorDash by 18.6% during the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after acquiring an additional 10,100 shares during the period. Sanctuary Advisors LLC boosted its position 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 acquiring an additional 3,498 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after acquiring an additional 1,645,186 shares during the last quarter. Institutional investors 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.