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

DoorDash (NASDAQ:DASH) had its price target hoisted by Loop Capital from $170.00 to $200.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Evercore ISI boosted their price objective on shares of DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Royal Bank of Canada upped their price target on DoorDash from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Bank of America upped their price target on shares of DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of DoorDash in a research report on Monday, October 7th. Finally, Wells Fargo & Company upped their price target on shares of DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, October 4th. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.03.

DoorDash Stock Performance

DoorDash stock opened at $169.43 on Tuesday. The company has a market capitalization 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 has a fifty-two week low of $92.56 and a fifty-two week high of $178.16. The company has a 50 day moving average price of $149.01 and a 200-day moving average price of $127.00.

DoorDash (NASDAQ:DASH) last issued 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 company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. DoorDash’s revenue was up 25.0% compared to the same quarter last year. During the same period last year, the company posted ($0.19) earnings per share. On average, analysts forecast that DoorDash will post 0.24 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now owns 18,089 shares in the company, valued at $2,355,187.80. This represents a 73.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Prabir Adarkar sold 32,124 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the sale, the chief operating officer now owns 963,094 shares of the company’s stock, valued at approximately $142,528,281.06. This represents a 3.23 % decrease in their position. 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 three months. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Large investors have recently bought and sold shares of the stock. Sender Co & Partners Inc. purchased a new position in DoorDash during the third quarter worth about $1,460,000. M&T Bank Corp grew its position in shares of DoorDash by 8.5% in the third quarter. M&T Bank Corp now owns 13,646 shares of the company’s stock valued at $1,947,000 after purchasing an additional 1,074 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of DoorDash by 14.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 110,273 shares of the company’s stock valued at $15,739,000 after buying an additional 14,310 shares during the period. Orion Portfolio Solutions LLC increased its holdings in DoorDash by 31.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 8,206 shares of the company’s stock worth $1,171,000 after acquiring an additional 1,946 shares during the period. Finally, iA Global Asset Management Inc. raised its position in shares of DoorDash by 4.6% in the third quarter. iA Global Asset Management Inc. now owns 39,208 shares of the company’s stock worth $5,596,000 after buying an additional 1,713 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.