DoorDash, Inc. (NASDAQ:DASH) Receives Consensus Rating of “Moderate Buy” from Brokerages

DoorDash, Inc. (NASDAQ:DASH) has earned a consensus recommendation of “Moderate Buy” from the thirty-three research firms that are covering the company, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and twenty-three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $209.66.

Several research firms have commented on DASH. Piper Sandler reissued a “neutral” rating and set a $210.00 price objective (up previously from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. JPMorgan Chase & Co. cut their price target on DoorDash from $205.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Loop Capital lifted their price objective on DoorDash from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Evercore ISI reiterated an “outperform” rating on shares of DoorDash in a research report on Monday, March 10th. Finally, Wolfe Research boosted their price target on shares of DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd.

Insiders Place Their Bets

In other news, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total value of $8,228,746.10. Following the completion of the sale, the director now owns 18,285 shares of the company’s stock, valued at approximately $3,313,424.85. This represents a 71.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 1,398 shares of DoorDash stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $284,423.10. Following the transaction, the director now directly owns 14,778 shares in the company, valued at approximately $3,006,584.10. The trade was a 8.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 158,511 shares of company stock worth $30,394,673 in the last three months. Corporate insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Institutional investors have recently added to or reduced their stakes in the stock. Swedbank AB boosted its holdings in shares of DoorDash by 3.3% in the 4th quarter. Swedbank AB now owns 171,055 shares of the company’s stock valued at $28,694,000 after buying an additional 5,539 shares in the last quarter. LVW Advisors LLC acquired a new stake in DoorDash in the fourth quarter valued at approximately $236,000. Nordea Investment Management AB boosted its stake in DoorDash by 37.5% in the fourth quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company’s stock valued at $294,701,000 after acquiring an additional 476,360 shares in the last quarter. Retireful LLC grew its holdings in DoorDash by 121.4% in the fourth quarter. Retireful LLC now owns 9,621 shares of the company’s stock worth $1,614,000 after purchasing an additional 5,275 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of DoorDash during the fourth quarter worth $240,000. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

DASH stock opened at $205.09 on Monday. The company’s fifty day moving average price is $185.50 and its 200-day moving average price is $179.38. DoorDash has a one year low of $99.32 and a one year high of $215.25. The company has a market capitalization of $86.16 billion, a PE ratio of 759.59 and a beta of 1.69.

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.