DoorDash (NASDAQ:DASH) Receives Neutral Rating from Piper Sandler

DoorDash (NASDAQ:DASH)‘s stock had its “neutral” rating restated by equities research analysts at Piper Sandler in a research note issued on Wednesday,Benzinga reports. They currently have a $210.00 price target on the stock, up from their previous price target of $160.00. Piper Sandler’s price objective would indicate a potential upside of 5.21% from the company’s previous close.

Several other equities research analysts also recently weighed in on DASH. Loop Capital increased their target price on shares of DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Cantor Fitzgerald increased their price objective on DoorDash from $200.00 to $230.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group boosted their target price on DoorDash from $182.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Susquehanna increased their price target on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Finally, Argus raised shares of DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $189.70.

DoorDash Price Performance

DASH stock opened at $199.60 on Wednesday. DoorDash has a 12 month low of $99.32 and a 12 month high of $199.80. The company has a market cap of $82.91 billion, a price-to-earnings ratio of -440.32, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72. The company has a fifty day moving average price of $177.52 and a 200 day moving average price of $156.06.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 115,432 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total value of $20,432,618.32. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $265,515. This represents a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,040,758 shares of company stock valued at $181,434,201 over the last three months. 7.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rakuten Securities Inc. boosted its position in shares of DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares during the last quarter. Pittenger & Anderson Inc. acquired a new position in shares of DoorDash in the 4th quarter valued at $29,000. Denver PWM LLC acquired a new position in shares of DoorDash in the 4th quarter valued at $30,000. Princeton Global Asset Management LLC purchased a new stake in shares of DoorDash during the 4th quarter valued at $34,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of DoorDash in the 4th quarter worth $36,000. Institutional investors and hedge funds 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.