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

DoorDash (NASDAQ:DASH)‘s stock had its “neutral” rating reiterated by Piper Sandler in a research note issued on Wednesday,Benzinga reports. They presently have a $210.00 price objective on the stock, up from their previous price objective of $160.00. Piper Sandler’s target price points to a potential upside of 2.12% from the stock’s previous close.

Several other brokerages also recently commented on DASH. Susquehanna increased their price objective on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Evercore ISI raised their target price on shares of DoorDash from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday. BMO Capital Markets raised their price objective on DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Wolfe Research raised their price target on DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company boosted their price target on shares of DoorDash from $150.00 to $166.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.45.

DoorDash Trading Up 2.4 %

Shares of DoorDash stock opened at $205.64 on Wednesday. The company has a market cap of $85.42 billion, a P/E ratio of -456.98, a PEG ratio of 2.04 and a beta of 1.72. The company’s fifty day simple moving average is $178.59 and its two-hundred day simple moving average is $156.71. DoorDash has a 12-month low of $99.32 and a 12-month high of $206.00.

Insider Activity

In other DoorDash news, COO Prabir Adarkar sold 20,000 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $180.83, for a total value of $3,616,600.00. Following the completion of the sale, the chief operating officer now owns 925,222 shares in the company, valued at approximately $167,307,894.26. This represents a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of the business’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 value of $261,060.00. Following the transaction, the chief financial officer now owns 366,993 shares in the company, 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 have sold 932,426 shares of company stock worth $162,990,678 in the last ninety days. Company insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers increased its holdings in DoorDash by 7.2% in the 2nd quarter. Cetera Investment Advisers now owns 11,747 shares of the company’s stock valued at $1,278,000 after purchasing an additional 788 shares during the last quarter. CWM LLC boosted its holdings in shares of DoorDash by 97.1% in the 3rd quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after buying an additional 5,273 shares in the last quarter. Creative Planning boosted its holdings in shares of DoorDash by 58.3% in the 3rd quarter. Creative Planning now owns 109,972 shares of the company’s stock valued at $15,696,000 after buying an additional 40,489 shares in the last quarter. Swedbank AB grew its position in shares of DoorDash by 1.0% in the 3rd quarter. Swedbank AB now owns 165,516 shares of the company’s stock valued at $23,624,000 after buying an additional 1,588 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its position in shares of DoorDash by 65.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 11,645 shares of the company’s stock valued at $1,662,000 after purchasing an additional 4,607 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.