JPMorgan Chase & Co. Cuts DoorDash (NASDAQ:DASH) Price Target to $175.00
JPMorgan Chase & Co. has lowered its price target for DoorDash (NASDAQ:DASH) from $205.00 to $175.00, maintaining a "neutral" rating. This adjustment suggests a potential upside of 1.72% from the stock's previous close. Other analysts have varied opinions, with some maintaining higher targets. Currently, DoorDash's stock is trading at $172.04, with a market cap of $72.27 billion. Recent insider sales have also been noted, with significant shares sold by directors. Hedge funds have made adjustments to their positions in the company as well.
DoorDash (NASDAQ:DASH - Get Free Report) had its target price dropped by stock analysts at JPMorgan Chase & Co. from $205.00 to $175.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 1.72% from the stock's previous close.
- Ibotta Stock: Why the Buyback Looks Like a Bullish Bet
A number of other research analysts have also recently commented on DASH. Evercore ISI restated an "outperform" rating on shares of DoorDash in a research note on Monday, March 10th. Roth Mkm boosted their price objective on DoorDash from $165.00 to $193.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Truist Financial boosted their price objective on shares of DoorDash from $217.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. The Goldman Sachs Group upped their price target on shares of DoorDash from $192.00 to $212.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Finally, Piper Sandler reissued a "neutral" rating and issued a $210.00 price objective (up from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $206.12.
Read Our Latest Stock Report on DASH
DoorDash Trading Up 3.5 %
- February’s Top 3 Stock Upgrades: What Investors Need to Know
Shares of DASH traded up $5.74 during mid-day trading on Tuesday, reaching $172.04. The company had a trading volume of 1,220,886 shares, compared to its average volume of 4,183,085. The stock has a market cap of $72.27 billion, a price-to-earnings ratio of 636.69 and a beta of 1.69. The firm has a fifty day simple moving average of $191.57 and a 200-day simple moving average of $174.26. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $215.25.
Insiders Place Their Bets
In other DoorDash news, Director Andy Fang sold 50,000 shares of the business's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $170.01, for a total value of $8,500,500.00. Following the transaction, the director now owns 16,176 shares of the company's stock, valued at approximately $2,750,081.76. The trade was a 75.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the sale, the director now directly owns 18,285 shares in the company, valued at approximately $3,313,424.85. This trade represents a 71.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 258,523 shares of company stock worth $47,227,120. 7.92% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
- Rideshare Rivalry: Lyft Stock Shows Potential to Outperform Uber
A number of hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC lifted its stake in DoorDash by 4.6% in the third quarter. HighTower Advisors LLC now owns 21,538 shares of the company's stock worth $3,054,000 after purchasing an additional 944 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of DoorDash by 23.0% during the third quarter. Stifel Financial Corp now owns 21,724 shares of the company's stock valued at $3,101,000 after acquiring an additional 4,056 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of DoorDash during the third quarter valued at approximately $829,000. Orion Portfolio Solutions LLC increased its holdings in shares of DoorDash by 31.1% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 8,206 shares of the company's stock worth $1,171,000 after purchasing an additional 1,946 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of DoorDash by 14.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 110,273 shares of the company's stock valued at $15,739,000 after purchasing an additional 14,310 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.
About DoorDash
(Get Free Report)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.
See Also
- Five stocks we like better than DoorDash
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- Tariff-Proof Stocks: 3 Big Bargains With Huge Upside Potential
- What Are Treasury Bonds?
- Qualcomm Breaks Down But RSI Signals It’s Severely Oversold
- The 3 Best Retail Stocks to Shop for in August
- Tesla’s #1 Bull Cuts Target But Says It’s Still a Buy
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in DoorDash Right Now?
Before you consider DoorDash, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DoorDash wasn't on the list.
While DoorDash currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
