Loop Capital Begins Coverage on DoorDash (NASDAQ:DASH)

Equities researchers at Loop Capital initiated coverage on shares of DoorDash (NASDAQ:DASH) in a research report issued on Friday, Marketbeat.com reports. The firm set a “buy” rating and a $170.00 price target on the stock. Loop Capital’s target price points to a potential upside of 33.67% from the stock’s previous close.

A number of other equities analysts also recently weighed in on DASH. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 price target on shares of DoorDash in a research note on Tuesday, February 6th. Oppenheimer increased their price target on shares of DoorDash from $110.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Wells Fargo & Company increased their price target on shares of DoorDash from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. The Goldman Sachs Group increased their price target 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. Finally, Mizuho increased their price target on shares of DoorDash from $140.00 to $152.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average target price of $130.52.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $127.18 on Friday. DoorDash has a 1 year low of $56.59 and a 1 year high of $143.34. The firm’s 50 day moving average price is $130.37 and its 200 day moving average price is $106.96. The firm has a market cap of $51.38 billion, a P/E ratio of -88.94, a price-to-earnings-growth ratio of 14.48 and a beta of 1.79.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, February 15th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the business posted ($0.63) EPS. The firm’s revenue was up 26.7% compared to the same quarter last year. As a group, equities analysts predict that DoorDash will post 0.21 EPS for the current year.

Insider Activity

In other news, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total value of $17,663,373.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other DoorDash news, CEO Tony Xu sold 132,300 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total transaction of $17,663,373.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ravi Inukonda sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $109.73, for a total transaction of $548,650.00. Following the transaction, the chief financial officer now directly owns 414,738 shares of the company’s stock, valued at $45,509,200.74. 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. Company insiders own 9.59% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DASH. Norges Bank bought a new stake in shares of DoorDash during the 4th quarter worth about $132,721,000. Vanguard Group Inc. raised its position in shares of DoorDash by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after buying an additional 2,259,976 shares in the last quarter. Amundi raised its position in shares of DoorDash by 1,801.6% during the 4th quarter. Amundi now owns 1,797,416 shares of the company’s stock worth $93,106,000 after buying an additional 1,702,894 shares in the last quarter. State Street Corp raised its position in shares of DoorDash by 49.4% during the 2nd quarter. State Street Corp now owns 4,358,288 shares of the company’s stock worth $279,671,000 after buying an additional 1,441,028 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of DoorDash by 5.0% during the 4th quarter. Morgan Stanley now owns 29,086,197 shares of the company’s stock worth $1,419,988,000 after buying an additional 1,384,006 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

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.