DoorDash (NASDAQ:DASH) Given “Outperform” Rating at BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of DoorDash (NASDAQ:DASH) in a report issued on Wednesday,Benzinga reports. The firm currently has a $240.00 price objective on the stock, up from their previous price objective of $180.00.

Several other equities research analysts also recently issued reports on DASH. Mizuho upped their price target on DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a report on Wednesday. Morgan Stanley upped their price target on DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company upped their price objective on DoorDash from $150.00 to $166.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Royal Bank of Canada upped their price objective on DoorDash from $175.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, KeyCorp upped their price objective on DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.45.

DoorDash Trading Up 3.8 %

Shares of DoorDash stock opened at $213.38 on Wednesday. The stock has a fifty day simple moving average of $179.29 and a 200 day simple moving average of $157.46. DoorDash has a 12-month low of $99.32 and a 12-month high of $214.64. The company has a market capitalization of $88.64 billion, a P/E ratio of -474.18, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $168.32, for a total value of $8,416,000.00. Following the transaction, the director now directly owns 16,176 shares in the company, valued at $2,722,744.32. This represents a 75.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Keith Yandell sold 7,980 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $1,356,440.40. Following the completion of the transaction, the insider now owns 124,221 shares in the company, valued at $21,115,085.58. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 932,426 shares of company stock worth $162,990,678 in the last ninety days. 7.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DoorDash

A number of institutional investors have recently added to or reduced their stakes in the business. Rakuten Securities Inc. increased its position in shares of DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares during the last quarter. Pittenger & Anderson Inc. bought a new position in shares of DoorDash during the 4th quarter valued at about $29,000. Denver PWM LLC bought a new position in shares of DoorDash during the 4th quarter valued at about $30,000. Princeton Global Asset Management LLC bought a new position in shares of DoorDash during the 4th quarter valued at about $34,000. Finally, ORG Wealth Partners LLC bought a new position in shares of DoorDash during the 4th quarter valued at about $36,000. 90.64% of the stock is currently owned by institutional investors.

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.