DoorDash (NASDAQ:DASH) Receives Market Outperform Rating from JMP Securities

DoorDash (NASDAQ:DASH - Get Free Report)'s stock had its "market outperform" rating reissued by analysts at JMP Securities in a report released on Monday,Benzinga reports. They presently have a $225.00 price objective on the stock. JMP Securities' price objective points to a potential upside of 18.31% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. Cantor Fitzgerald dropped their price target on shares of DoorDash from $230.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Bank of America cut their price target on DoorDash from $245.00 to $235.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. 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 research note on Wednesday, February 12th. Barclays upped their target price on DoorDash from $163.00 to $200.00 and gave the company an "equal weight" rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company raised their price target on shares of DoorDash from $198.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 3rd. Ten research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and an average price target of $209.66.

DoorDash Trading Up 1.3 %

NASDAQ:DASH traded up $2.42 during trading hours on Monday, hitting $190.18. The stock had a trading volume of 503,694 shares, compared to its average volume of 5,371,595. The business has a 50 day simple moving average of $186.09 and a two-hundred day simple moving average of $178.22. DoorDash has a 1-year low of $99.32 and a 1-year high of $215.24. The company has a market cap of $79.89 billion, a PE ratio of 703.49 and a beta of 1.69.

Insider Activity

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the sale, the director now directly owns 18,285 shares in the company, valued at approximately $3,313,424.85. The trade was a 71.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Tia Sherringham sold 12,088 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $2,459,303.60. Following the completion of the sale, the general counsel now directly owns 122,135 shares of the company's stock, valued at approximately $24,848,365.75. This represents a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,086 shares of company stock valued at $26,430,884. Insiders own 7.92% of the company's stock.

Institutional Investors Weigh In On DoorDash

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GeoWealth Management LLC lifted its holdings in shares of DoorDash by 3.7% in the fourth quarter. GeoWealth Management LLC now owns 1,428 shares of the company's stock valued at $240,000 after buying an additional 51 shares during the period. IFP Advisors Inc lifted its holdings in DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company's stock valued at $37,000 after acquiring an additional 54 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in DoorDash by 34.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company's stock valued at $46,000 after acquiring an additional 69 shares during the last quarter. Avestar Capital LLC boosted its position in shares of DoorDash by 1.1% during the 4th quarter. Avestar Capital LLC now owns 6,618 shares of the company's stock valued at $1,110,000 after purchasing an additional 75 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in DoorDash by 0.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company's stock worth $1,970,000 after buying an additional 84 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

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.

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