DoorDash’s (DASH) Neutral Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their neutral rating on shares of DoorDash (NASDAQ:DASH) in a research note 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.

DASH has been the subject of a number of other research reports. Royal Bank of Canada raised their price objective on shares of DoorDash from $175.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Benchmark increased their price objective on DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday. DA Davidson lifted their target price on DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their price target on DoorDash from $161.00 to $192.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Finally, Truist Financial raised their price objective on DoorDash from $180.00 to $217.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $202.67.

DoorDash Price Performance

NASDAQ DASH opened at $200.89 on Wednesday. DoorDash has a twelve month low of $99.32 and a twelve month high of $201.17. The business’s fifty day moving average is $178.00 and its 200 day moving average is $156.37.

Insider Transactions at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $183.20, for a total value of $261,060.00. Following the completion of the transaction, the chief financial officer now owns 366,993 shares in the company, valued at $67,233,117.60. This trade represents a 0.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stanley Tang sold 1,855 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $315,312.90. Following the sale, the director now owns 35,413 shares in the company, valued at approximately $6,019,501.74. This represents a 4.98 % 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 worth $181,434,201 over the last quarter. Corporate insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DASH. Norges Bank purchased a new position in DoorDash during the fourth quarter worth about $597,443,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of DoorDash by 67.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after purchasing an additional 1,869,866 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares in the last quarter. Franklin Resources Inc. raised its stake in DoorDash by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock valued at $796,781,000 after purchasing an additional 949,414 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in DoorDash during the fourth quarter valued at approximately $146,094,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.