JMP Securities Reiterates Market Outperform Rating for DoorDash (NASDAQ:DASH)

DoorDash (NASDAQ:DASH)‘s stock had its “market outperform” rating reiterated by stock analysts at JMP Securities in a research note issued on Monday,Benzinga reports. They presently have a $225.00 target price on the stock. JMP Securities’ price objective points to a potential upside of 17.66% from the stock’s previous close.

A number of other research firms have also commented on DASH. Mizuho increased their price target on DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Wedbush boosted their price objective on DoorDash from $160.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Wolfe Research raised their target price on DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Loop Capital upped their price target on shares of DoorDash from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $240.00 price objective (up previously from $180.00) on shares of DoorDash in a report on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $209.66.

DoorDash Stock Up 1.8 %

NASDAQ:DASH opened at $191.23 on Monday. The firm has a market cap of $80.33 billion, a PE ratio of 708.26 and a beta of 1.69. DoorDash has a 12 month low of $99.32 and a 12 month high of $215.25. The company’s 50-day moving average price is $185.36 and its two-hundred day moving average price is $178.58.

Insider Activity

In related news, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction on Friday, April 25th. The shares were sold at an average price of $187.22, for a total value of $266,788.50. Following the sale, the chief financial officer now directly owns 337,430 shares of the company’s stock, valued at approximately $63,173,644.60. The trade was a 0.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andy Fang sold 1,398 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $284,423.10. Following the transaction, the director now owns 14,778 shares of the company’s stock, valued at approximately $3,006,584.10. This trade represents a 8.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,511 shares of company stock worth $30,394,673 over the last quarter. 7.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoorDash

Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of DoorDash in the fourth quarter valued at approximately $597,443,000. Capital World Investors grew its position in DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock valued at $2,038,712,000 after purchasing an additional 2,538,160 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in DoorDash by 67.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after buying an additional 1,869,866 shares in the last quarter. Franklin Resources Inc. lifted its position in DoorDash by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock worth $796,781,000 after buying an additional 949,414 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of DoorDash during the 4th quarter worth about $146,094,000. Institutional investors own 90.64% of the company’s stock.

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.