Piper Sandler Reaffirms Neutral Rating for DoorDash (NASDAQ:DASH)

DoorDash (NASDAQ:DASH)‘s stock had its “neutral” rating restated by Piper Sandler in a report released on Wednesday,Benzinga reports. They currently have a $210.00 price target on the stock, up from their prior price target of $160.00. Piper Sandler’s target price indicates a potential upside of 5.21% from the company’s previous close.

A number of other brokerages have also recently weighed in on DASH. Loop Capital upped their price target on shares of DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Mizuho increased their target price on DoorDash from $200.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays raised their target price on DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Needham & Company LLC increased their price objective on shares of DoorDash from $180.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada boosted their target price on shares of DoorDash from $175.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $189.70.

DoorDash Stock Up 3.4 %

DASH opened at $199.60 on Wednesday. DoorDash has a 52-week low of $99.32 and a 52-week high of $199.80. The company has a 50 day moving average of $177.52 and a two-hundred day moving average of $156.06. The company has a market cap of $82.91 billion, a P/E ratio of -440.32, a P/E/G ratio of 2.04 and a beta of 1.72.

Insider Buying and Selling at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 20,000 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $180.83, for a total transaction of $3,616,600.00. Following the sale, the chief operating officer now directly owns 925,222 shares in the company, valued at approximately $167,307,894.26. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ravi Inukonda sold 1,425 shares of the company’s stock in a transaction that occurred 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 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 1,040,758 shares of company stock valued at $181,434,201 in the last ninety days. Company insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several hedge funds have recently modified their holdings of DASH. Rakuten Securities Inc. grew its stake in shares of DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the last quarter. Pittenger & Anderson Inc. bought a new stake in DoorDash during the fourth quarter worth approximately $29,000. Denver PWM LLC bought a new stake in DoorDash during the fourth quarter worth approximately $30,000. Princeton Global Asset Management LLC acquired a new position in DoorDash in the fourth quarter worth approximately $34,000. Finally, ORG Wealth Partners LLC bought a new position in shares of DoorDash in the fourth quarter valued at $36,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.