DoorDash (NASDAQ:DASH) Given New $200.00 Price Target at Loop Capital

DoorDash (NASDAQ:DASH) had its price target increased by Loop Capital from $170.00 to $200.00 in a report published on Tuesday,Benzinga reports. Loop Capital currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Argus began coverage on DoorDash in a research note on Tuesday, July 23rd. They set a “hold” rating on the stock. The Goldman Sachs Group raised their price target on shares of DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their target price on DoorDash from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Redburn Atlantic started coverage on DoorDash in a research note on Friday, July 26th. They issued a “buy” rating and a $170.00 price target on the stock. Finally, Morgan Stanley raised their target price on shares of DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.03.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $169.43 on Tuesday. DoorDash has a 52-week low of $92.56 and a 52-week high of $178.16. The firm’s 50 day moving average price is $149.01 and its 200-day moving average price is $127.00. The company has a market cap of $70.38 billion, a PE ratio of -376.51, a P/E/G ratio of 14.79 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.19) earnings per share. On average, analysts forecast that DoorDash will post 0.24 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the transaction, the chief financial officer now directly owns 396,152 shares in the company, valued at $50,651,994.72. The trade was a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $149.83, for a total value of $7,491,500.00. Following the completion of the sale, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,710,274.87. This trade represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 324,539 shares of company stock valued at $46,439,330 over the last quarter. 7.92% of the stock is owned by insiders.

Institutional Investors Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC raised its holdings in shares of DoorDash by 11,416.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after buying an additional 3,425,115 shares during the period. Baillie Gifford & Co. lifted its position in DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares during the last quarter. Dragoneer Investment Group LLC boosted its position in DoorDash by 77.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after acquiring an additional 1,246,567 shares during the period. Canada Pension Plan Investment Board lifted its holdings in DoorDash by 595.2% in the first quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock worth $122,830,000 after purchasing an additional 763,579 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of DoorDash by 216.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after buying an additional 739,961 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Company Profile

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.