Research analysts at Morgan Stanley initiated coverage on shares of DoorDash (NYSE:DASH – Get Rating) in a research note issued to investors on Monday, The Fly reports. The firm set an “equal weight” rating and a $100.00 price target on the stock. Morgan Stanley’s price objective points to a potential upside of 12.36% from the company’s previous close.
Other equities analysts have also issued reports about the company. Citigroup assumed coverage on DoorDash in a report on Tuesday, April 19th. They set a “buy” rating and a $155.00 price objective for the company. Susquehanna reduced their price objective on DoorDash from $260.00 to $145.00 and set a “positive” rating for the company in a report on Thursday, February 17th. Zacks Investment Research raised DoorDash from a “sell” rating to a “hold” rating in a report on Tuesday, April 19th. JPMorgan Chase & Co. reduced their price objective on DoorDash from $175.00 to $162.00 and set a “neutral” rating for the company in a report on Thursday, February 17th. Finally, Northcoast Research started coverage on DoorDash in a report on Wednesday, January 19th. They issued a “neutral” rating for the company. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $175.75.
DASH stock opened at $89.00 on Monday. The firm has a market cap of $31.01 billion and a PE ratio of -64.03. The business has a 50 day moving average of $102.48 and a 200-day moving average of $142.78. DoorDash has a 12-month low of $74.32 and a 12-month high of $257.25.
In related news, Director Alfred Lin bought 183,224 shares of the firm’s stock in a transaction on Wednesday, March 9th. The stock was acquired at an average cost of $92.38 per share, for a total transaction of $16,926,233.12. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stanley Tang sold 80,000 shares of the business’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $120.17, for a total transaction of $9,613,600.00. The disclosure for this sale can be found here. Insiders have sold 449,099 shares of company stock valued at $46,872,703 over the last quarter. Company insiders own 15.54% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Truist Financial Corp bought a new position in shares of DoorDash in the 1st quarter valued at about $319,000. UMB Bank N A MO raised its stake in shares of DoorDash by 68.3% during the first quarter. UMB Bank N A MO now owns 680 shares of the company’s stock valued at $80,000 after acquiring an additional 276 shares in the last quarter. Strs Ohio bought a new stake in shares of DoorDash during the first quarter valued at approximately $515,000. Oregon Public Employees Retirement Fund increased its holdings in DoorDash by 2.6% during the first quarter. Oregon Public Employees Retirement Fund now owns 15,787 shares of the company’s stock valued at $1,850,000 after buying an additional 400 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in DoorDash by 71.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,997 shares of the company’s stock valued at $6,211,000 after buying an additional 22,166 shares during the period. 75.44% of the stock is owned by hedge funds and other institutional investors.
About DoorDash (Get Rating)
DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.
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