Loop Capital Increases DoorDash (NASDAQ:DASH) Price Target to $200.00

DoorDash (NASDAQ:DASH) had its price objective raised by equities research analysts at Loop Capital from $170.00 to $200.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s price target indicates a potential upside of 13.08% from the stock’s previous close.

Several other brokerages have also commented on DASH. KeyCorp upped their price target on DoorDash from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. DA Davidson upped their price target on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada raised their target price on shares of DoorDash from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Bank of America lifted their price target on DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Raymond James initiated coverage on shares of DoorDash in a research note on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.03.

DoorDash Trading Up 1.1 %

Shares of DASH traded up $1.92 during mid-day trading on Tuesday, reaching $176.87. The company’s stock had a trading volume of 1,304,419 shares, compared to its average volume of 3,823,443. The company’s fifty day moving average price is $145.10 and its two-hundred day moving average price is $125.75. DoorDash has a 52 week low of $86.33 and a 52 week high of $177.22. The stock has a market cap of $73.47 billion, a PE ratio of -393.04, a P/E/G ratio of 14.42 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business’s revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) EPS. Research analysts anticipate that DoorDash will post 0.24 EPS for the current year.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the sale, the chief financial officer now directly owns 396,152 shares of the company’s stock, valued at $50,651,994.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The disclosure for this sale can be found here. Insiders have sold 324,539 shares of company stock worth $46,439,330 over the last ninety days. 7.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. boosted its position in shares of DoorDash by 98.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,732 shares of the company’s stock worth $789,000 after purchasing an additional 2,848 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of DoorDash by 31.6% during the first quarter. Empowered Funds LLC now owns 5,732 shares of the company’s stock valued at $789,000 after buying an additional 1,375 shares during the last quarter. US Bancorp DE raised its holdings in DoorDash by 15.6% in the 1st quarter. US Bancorp DE now owns 7,948 shares of the company’s stock worth $1,095,000 after purchasing an additional 1,074 shares during the period. Bleakley Financial Group LLC lifted its holdings in DoorDash by 8.7% during the first quarter. Bleakley Financial Group LLC now owns 5,245 shares of the company’s stock valued at $722,000 after purchasing an additional 418 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of DoorDash by 1,568.8% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 41,169 shares of the company’s stock valued at $5,670,000 after buying an additional 38,702 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.