Loop Capital Initiates Coverage on DoorDash (NASDAQ:DASH)

Loop Capital started coverage on shares of DoorDash (NASDAQ:DASH) in a research report sent to investors on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $170.00 price objective on the stock.

A number of other research firms have also recently commented on DASH. The Goldman Sachs Group raised their target price on shares of DoorDash from $109.00 to $122.00 and gave the stock a neutral rating in a research note on Friday, February 16th. Susquehanna lifted their target price on DoorDash from $110.00 to $135.00 and gave the company a positive rating in a research note on Tuesday, February 20th. Wells Fargo & Company upped their target price on shares of DoorDash from $100.00 to $125.00 and gave the stock an equal weight rating in a research report on Thursday, April 4th. Piper Sandler upgraded DoorDash from an underweight rating to a neutral rating and raised their price target for the company from $53.00 to $127.00 in a report on Friday, March 15th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $133.00 price objective on shares of DoorDash in a report on Tuesday, February 6th. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $130.52.

DoorDash Price Performance

NASDAQ DASH opened at $127.27 on Friday. The stock has a market capitalization of $51.42 billion, a price-to-earnings ratio of -89.00, a PEG ratio of 14.15 and a beta of 1.79. The business’s fifty day moving average price is $130.55 and its 200-day moving average price is $107.54. DoorDash has a 1-year low of $56.59 and a 1-year high of $143.34.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.24). DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the business posted ($0.63) earnings per share. The firm’s revenue was up 26.7% on a year-over-year basis. Equities research analysts anticipate that DoorDash will post 0.21 EPS for the current year.

Insider Buying and Selling

In other DoorDash news, Director Andy Fang sold 67,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $110.57, for a total value of $7,408,190.00. Following the sale, the director now owns 40,969 shares in the company, valued at $4,529,942.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total transaction of $17,458,308.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andy Fang sold 67,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $110.57, for a total value of $7,408,190.00. Following the transaction, the director now owns 40,969 shares in the company, valued at $4,529,942.33. The disclosure for this sale can be found here. In the last three months, insiders sold 497,282 shares of company stock valued at $64,885,042. Insiders own 9.59% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently made changes to their positions in DASH. National Bank of Canada FI grew its holdings in DoorDash by 13.1% during the 3rd quarter. National Bank of Canada FI now owns 1,081 shares of the company’s stock worth $86,000 after acquiring an additional 125 shares in the last quarter. CWM LLC lifted its holdings in DoorDash by 19.4% during the third quarter. CWM LLC now owns 2,684 shares of the company’s stock worth $213,000 after buying an additional 437 shares during the period. DnB Asset Management AS boosted its position in DoorDash by 41.1% during the third quarter. DnB Asset Management AS now owns 48,827 shares of the company’s stock valued at $3,880,000 after purchasing an additional 14,216 shares in the last quarter. SG Americas Securities LLC grew its stake in DoorDash by 1,139.2% in the third quarter. SG Americas Securities LLC now owns 24,994 shares of the company’s stock valued at $1,986,000 after purchasing an additional 22,977 shares during the last quarter. Finally, Barton Investment Management bought a new position in DoorDash in the third quarter worth about $477,000. Institutional investors 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.