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

BMO Capital Markets reaffirmed their outperform rating on shares of DoorDash (NASDAQ:DASH) in a report published on Wednesday,Benzinga reports. BMO Capital Markets currently has a $240.00 price target on the stock, up from their previous price target of $180.00.

A number of other research analysts have also recently issued reports on the company. Susquehanna lifted their target price on DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Wells Fargo & Company lifted their target price on DoorDash from $150.00 to $166.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Benchmark lifted their target price on DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday. DA Davidson lifted their target price on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Wolfe Research lifted their target price on DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Nine analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.45.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $213.38 on Wednesday. DoorDash has a 52 week low of $99.32 and a 52 week high of $214.64. The stock has a market capitalization of $88.64 billion, a P/E ratio of -474.18, a PEG ratio of 2.04 and a beta of 1.72. The stock’s fifty day moving average is $179.29 and its 200 day moving average is $157.46.

Insider Buying and Selling at DoorDash

In other DoorDash news, General Counsel Tia Sherringham sold 12,950 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $2,201,241.00. Following the transaction, the general counsel now directly owns 145,917 shares of the company’s stock, valued at approximately $24,802,971.66. The trade was a 8.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $172.67, for a total value of $8,633,500.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $3,123,427.63. This trade represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 932,426 shares of company stock valued at $162,990,678. 7.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoorDash

Hedge funds and other institutional investors have recently modified their holdings of the company. Rakuten Securities Inc. increased its holdings in shares of DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after acquiring an additional 130 shares in the last quarter. Pittenger & Anderson Inc. bought a new stake in shares of DoorDash during the fourth quarter valued at approximately $29,000. Denver PWM LLC bought a new stake in shares of DoorDash during the fourth quarter valued at approximately $30,000. Princeton Global Asset Management LLC bought a new stake in shares of DoorDash during the fourth quarter valued at approximately $34,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of DoorDash during the fourth quarter valued at approximately $36,000. Institutional investors own 90.64% of the company’s stock.

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.