Bank of America Has Lowered Expectations for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its target price lowered by Bank of America from $245.00 to $235.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently commented on DASH. Benchmark upped their target price on DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Needham & Company LLC restated a “buy” rating on shares of DoorDash in a research report on Monday, March 3rd. Barclays lifted their target price on shares of DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Royal Bank of Canada boosted their target price on shares of DoorDash from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, UBS Group raised their price target on shares of DoorDash from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $207.00.

DoorDash Price Performance

NASDAQ DASH opened at $166.30 on Monday. The company has a fifty day moving average of $191.57 and a 200 day moving average of $174.26. The company has a market capitalization of $69.86 billion, a PE ratio of 615.93 and a beta of 1.69. DoorDash has a 1 year low of $99.32 and a 1 year high of $215.25.

Insiders Place Their Bets

In other news, General Counsel Tia Sherringham sold 12,088 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $2,459,303.60. Following the transaction, the general counsel now owns 122,135 shares of the company’s stock, valued at $24,848,365.75. This represents a 9.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $170.01, for a total transaction of $8,500,500.00. Following the completion of the transaction, the director now directly owns 16,176 shares in the company, valued at $2,750,081.76. The trade was a 75.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,523 shares of company stock valued at $47,227,120 in the last three months. 7.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DoorDash

A number of institutional investors and hedge funds have recently made changes to their positions in DASH. Pittenger & Anderson Inc. purchased a new position in shares of DoorDash during the 4th quarter worth approximately $29,000. Denver PWM LLC acquired a new position in DoorDash during the fourth quarter worth $30,000. Princeton Global Asset Management LLC purchased a new position in shares of DoorDash during the fourth quarter worth $34,000. ORG Wealth Partners LLC acquired a new stake in shares of DoorDash in the fourth quarter valued at $36,000. Finally, IFP Advisors Inc raised its holdings in shares of DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after buying an additional 54 shares during the period. 90.64% of the stock is owned by hedge funds and other 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.