DoorDash’s (DASH) Outperform Rating Reiterated at BMO Capital Markets

DoorDash (NASDAQ:DASH)‘s stock had its “outperform” rating reissued by investment analysts at BMO Capital Markets in a report issued on Wednesday,Benzinga reports. They currently have a $240.00 price target on the stock, up from their prior price target of $180.00. BMO Capital Markets’ price objective would indicate a potential upside of 21.08% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Wolfe Research boosted their price target on shares of DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Piper Sandler reiterated a “neutral” rating and set a $210.00 price target (up previously from $160.00) on shares of DoorDash in a research report on Wednesday. Truist Financial upped their price objective on shares of DoorDash from $180.00 to $217.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. JMP Securities reiterated a “market outperform” rating and set a $200.00 target price on shares of DoorDash in a research report on Thursday, February 6th. Finally, Bank of America increased their price target on shares of DoorDash from $172.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Nine investment 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 stock presently has an average rating of “Moderate Buy” and an average target price of $191.52.

DoorDash Trading Up 2.7 %

Shares of DASH traded up $5.12 on Wednesday, reaching $198.21. 3,436,144 shares of the company’s stock traded hands, compared to its average volume of 2,806,580. The stock’s 50 day simple moving average is $177.52 and its two-hundred day simple moving average is $156.06. DoorDash has a 52-week low of $99.32 and a 52-week high of $200.60. The stock has a market cap of $82.34 billion, a PE ratio of -438.37, a PEG ratio of 2.04 and a beta of 1.72.

Insider Transactions at DoorDash

In other news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $168.32, for a total value of $8,416,000.00. Following the transaction, the director now directly owns 16,176 shares of the company’s stock, valued at approximately $2,722,744.32. This trade represents a 75.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ravi Inukonda sold 1,425 shares of the firm’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 transaction, the chief financial officer now directly owns 366,993 shares in the company, valued at $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 valued at $181,434,201 in the last three months. 7.92% of the stock is currently owned by company insiders.

Institutional Trading of DoorDash

Hedge funds and other institutional investors have recently modified their holdings of the stock. Orion Portfolio Solutions LLC raised its position in shares of DoorDash by 11.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 9,163 shares of the company’s stock valued at $1,537,000 after buying an additional 957 shares during the period. Riverchase Wealth Management LLC acquired a new stake in DoorDash during the fourth quarter worth $336,000. Pictet Asset Management Holding SA raised its position in DoorDash by 12.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 172,062 shares of the company’s stock valued at $28,863,000 after purchasing an additional 18,401 shares during the period. Norges Bank purchased a new stake in DoorDash in the fourth quarter valued at $597,443,000. Finally, Blair William & Co. IL lifted its stake in shares of DoorDash by 18.2% in the 4th quarter. Blair William & Co. IL now owns 4,304 shares of the company’s stock valued at $722,000 after purchasing an additional 664 shares during the last quarter. 90.64% of the stock is 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.