DoorDash’s (DASH) Market Outperform Rating Reiterated at JMP Securities

DoorDash (NASDAQ:DASH)‘s stock had its “market outperform” rating reissued by investment analysts at JMP Securities in a research note issued to investors on Thursday,Benzinga reports. They presently have a $200.00 price target on the stock. JMP Securities’ price target suggests a potential upside of 1.76% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Susquehanna lifted their target price on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a report on Friday, November 1st. Needham & Company LLC boosted their target price on DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Loop Capital increased their price objective on DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Jefferies Financial Group increased their price target on DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Argus raised shares of DoorDash from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $179.39.

DoorDash Price Performance

DoorDash stock traded up $0.55 during trading hours on Thursday, hitting $196.54. 393,055 shares of the stock traded hands, compared to its average volume of 2,492,197. DoorDash has a 1 year low of $99.32 and a 1 year high of $196.98. The stock has a market capitalization of $81.64 billion, a price-to-earnings ratio of -436.76, a P/E/G ratio of 1.97 and a beta of 1.72. The firm’s 50 day moving average price is $176.19 and its 200-day moving average price is $153.15.

Insider Buying and Selling

In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the completion of the transaction, the director now directly owns 16,176 shares in the company, valued at approximately $2,722,744.32. This trade represents a 75.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $170.25, for a total value of $18,443,523.00. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $255,375. This represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,040,758 shares of company stock valued at $181,434,201. Company insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. lifted its holdings in shares of DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares during the period. State Street Corp boosted its position in shares of DoorDash by 3.8% in the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock worth $1,055,616,000 after buying an additional 272,659 shares during the period. Janus Henderson Group PLC raised its stake in shares of DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after purchasing an additional 700,465 shares during the period. Geode Capital Management LLC lifted its holdings in DoorDash by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after buying an additional 267,855 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in DoorDash by 15.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after acquiring an additional 501,905 shares during the last quarter. 90.64% of the stock is 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.