DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Loop Capital Analyst Says

DoorDash (NASDAQ:DASH) had its target price hoisted by Loop Capital from $200.00 to $235.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $200.00 price objective on shares of DoorDash in a research note on Thursday, February 6th. Bank of America lifted their price objective on shares of DoorDash from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. DA Davidson upped their target price on DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. KeyCorp lifted their price target on DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Finally, Citigroup upped their price objective on DoorDash from $211.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $206.52.

DoorDash Trading Up 3.8 %

Shares of NASDAQ DASH opened at $198.60 on Monday. The firm has a market cap of $83.43 billion, a P/E ratio of 735.56 and a beta of 1.72. The business’s 50 day moving average is $183.84 and its 200-day moving average is $162.54. DoorDash has a 1-year low of $99.32 and a 1-year high of $215.24.

Insider Transactions at DoorDash

In other DoorDash news, insider Keith Yandell sold 4,474 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $177.36, for a total value of $793,508.64. Following the completion of the sale, the insider now owns 114,238 shares in the company, valued at approximately $20,261,251.68. The trade was a 3.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 115,432 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total transaction of $20,432,618.32. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $265,515. This trade represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 760,662 shares of company stock worth $134,448,673. 7.92% of the stock is currently owned by corporate insiders.

Institutional Trading of DoorDash

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in DoorDash in the third quarter worth about $1,772,000. Ballentine Partners LLC lifted its stake in shares of DoorDash by 29.8% in the 3rd quarter. Ballentine Partners LLC now owns 2,850 shares of the company’s stock valued at $407,000 after purchasing an additional 655 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of DoorDash by 14.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,676 shares of the company’s stock valued at $10,763,000 after purchasing an additional 9,359 shares in the last quarter. Forsta AP Fonden boosted its position in shares of DoorDash by 18.6% during the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after purchasing an additional 10,100 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in DoorDash by 8.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,660 shares of the company’s stock worth $1,664,000 after purchasing an additional 942 shares during the period. Hedge funds and other 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.