DoorDash (NASDAQ:DASH) Coverage Initiated at FBN Securities

Equities researchers at FBN Securities began coverage on shares of DoorDash (NASDAQ:DASH) in a note issued to investors on Friday. The firm set an “outperform” rating and a $230.00 price target on the stock. FBN Securities’ target price would suggest a potential upside of 18.54% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Royal Bank of Canada upped their price target on shares of DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Truist Financial upped their target price on DoorDash from $217.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Mizuho boosted their price objective on DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Barclays raised their target price on DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Finally, Benchmark upped their price target on shares of DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $207.21.

DoorDash Stock Up 0.6 %

DASH stock opened at $194.02 on Friday. The company has a 50-day simple moving average of $191.84 and a 200 day simple moving average of $171.37. The company has a market capitalization of $81.51 billion, a P/E ratio of 718.59 and a beta of 1.70. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $215.25.

Insider Buying and Selling

In related news, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $170.35, for a total transaction of $18,454,356.20. Following the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $255,525. This trade represents a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ravi Inukonda sold 14,715 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $196.52, for a total value of $2,891,791.80. Following the completion of the transaction, the chief financial officer now directly owns 338,055 shares of the company’s stock, valued at approximately $66,434,568.60. This trade represents a 4.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 358,445 shares of company stock worth $63,443,370. 7.92% of the stock is currently owned by insiders.

Institutional Trading of DoorDash

Institutional investors and hedge funds have recently modified their holdings of the company. Pittenger & Anderson Inc. acquired a new stake in DoorDash during the fourth quarter worth $29,000. Denver PWM LLC bought a new position in shares of DoorDash during the 4th quarter worth about $30,000. Princeton Global Asset Management LLC acquired a new stake in shares of DoorDash during the 4th quarter valued at about $34,000. ORG Wealth Partners LLC bought a new stake in DoorDash in the fourth quarter valued at about $36,000. Finally, IFP Advisors Inc lifted its stake in DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after purchasing an additional 54 shares during the period. 90.64% of the stock is currently owned by institutional investors.

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.