DoorDash, Inc. (NASDAQ:DASH) Receives Average Rating of “Moderate Buy” from Brokerages

DoorDash, Inc. (NASDAQ:DASH) has been assigned an average recommendation of “Moderate Buy” from the thirty-four research firms that are presently covering the company, MarketBeat reports. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $206.52.

Several equities analysts have recently weighed in on the company. Benchmark raised their price objective on DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. The Goldman Sachs Group raised their price objective on DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. KeyCorp raised their price objective on DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Bank of America raised their price objective on DoorDash from $205.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Oppenheimer reiterated a “hold” rating on shares of DoorDash in a report on Monday, March 10th.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $183.50 on Friday. The stock has a market capitalization of $77.09 billion, a price-to-earnings ratio of 679.63 and a beta of 1.70. The business has a 50-day moving average of $187.99 and a 200-day moving average of $167.51. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $215.25.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the completion of the transaction, the director now directly owns 16,176 shares in the company, valued at $2,722,744.32. The trade was a 75.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $178.74, for a total transaction of $19,363,261.68. Following the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $268,110. This represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 522,062 shares of company stock worth $92,218,440 over the last three months. Corporate insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DASH. 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 worth $25,000 after buying an additional 130 shares in the last quarter. Pittenger & Anderson Inc. acquired a new position in shares of DoorDash during the fourth quarter worth $29,000. Denver PWM LLC acquired a new position in shares of DoorDash during the fourth quarter worth $30,000. Princeton Global Asset Management LLC acquired a new position in shares of DoorDash during the fourth quarter worth $34,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of DoorDash during the fourth quarter worth $36,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.