DoorDash (NASDAQ:DASH) Receives Outperform Rating from BMO Capital Markets

BMO Capital Markets restated their outperform rating on shares of DoorDash (NASDAQ:DASH) in a research note released on Wednesday,Benzinga reports. The firm currently has a $240.00 price objective on the stock, up from their prior price objective of $180.00.

DASH has been the topic of several other reports. Benchmark lifted their target price on DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday. Cantor Fitzgerald lifted their price objective on DoorDash from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group increased their target price on DoorDash from $161.00 to $192.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. boosted their price target on shares of DoorDash from $155.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Susquehanna boosted their target price on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $202.67.

DoorDash Price Performance

DASH stock opened at $200.89 on Wednesday. The company’s fifty day moving average price is $178.00 and its 200-day moving average price is $156.37. DoorDash has a one year low of $99.32 and a one year high of $201.17.

Insider Activity at DoorDash

In other news, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $183.20, for a total transaction of $261,060.00. Following the sale, the chief financial officer now owns 366,993 shares in the company, valued at approximately $67,233,117.60. The trade was a 0.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Prabir Adarkar sold 20,000 shares of DoorDash stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $180.83, for a total transaction of $3,616,600.00. Following the completion of the sale, the chief operating officer now owns 925,222 shares of the company’s stock, valued at $167,307,894.26. This trade represents a 2.12 % 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 valued at $181,434,201 over the last 90 days. Insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in DoorDash by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock worth $5,254,501,000 after acquiring an additional 317,502 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of DoorDash by 13.2% in 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 during the last quarter. State Street Corp lifted its holdings in shares of DoorDash by 3.8% during the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock worth $1,055,616,000 after purchasing an additional 272,659 shares during the period. Janus Henderson Group PLC increased its holdings in DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after buying an additional 700,465 shares during the period. Finally, Franklin Resources Inc. lifted its stake in DoorDash by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock valued at $796,781,000 after acquiring an additional 949,414 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.