DoorDash (NASDAQ:DASH) Coverage Initiated by Analysts at Loop Capital

Loop Capital started coverage on shares of DoorDash (NASDAQ:DASH) in a research note released on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $170.00 target price on the stock.

A number of other research analysts have also recently commented on the stock. Truist Financial upped their target price on shares of DoorDash from $140.00 to $155.00 and gave the company a buy rating in a research report on Wednesday, March 27th. Jefferies Financial Group raised shares of DoorDash from a hold rating to a buy rating and upped their target price for the company from $90.00 to $130.00 in a research report on Monday, January 8th. Morgan Stanley raised shares of DoorDash from an equal weight rating to an overweight rating and upped their target price for the company from $135.00 to $145.00 in a research report on Thursday, February 22nd. Moffett Nathanson raised shares of DoorDash from a neutral rating to a buy rating and upped their target price for the company from $118.00 to $164.00 in a research report on Thursday, April 11th. Finally, UBS Group decreased their target price on shares of DoorDash from $123.00 to $118.00 and set a neutral rating on the stock in a research report on Friday, February 16th. Nine research 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.com, the stock has an average rating of Moderate Buy and an average target price of $130.52.

DoorDash Trading Down 2.2 %

Shares of DASH stock opened at $127.18 on Friday. The company’s 50-day moving average price is $130.37 and its 200-day moving average price is $106.75. The stock has a market cap of $51.38 billion, a price-to-earnings ratio of -88.94, a PEG ratio of 15.34 and a beta of 1.79. DoorDash has a twelve month low of $56.59 and a twelve month high of $143.34.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.24). The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.25 billion. DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. The company’s revenue was up 26.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.63) EPS. As a group, equities research analysts predict that DoorDash will post 0.2 EPS for the current year.

Insider Buying and Selling

In related news, CEO Tony Xu sold 132,300 shares of the company’s stock in a transaction that occurred on 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 SEC, which can be accessed through this hyperlink. In other DoorDash news, CEO Tony Xu sold 132,300 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total value of $17,663,373.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Andy Fang sold 67,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $110.57, for a total transaction of $7,408,190.00. Following the completion of the transaction, the director now owns 40,969 shares in the company, valued at $4,529,942.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 497,282 shares of company stock worth $64,885,042. Company insiders own 9.59% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its stake in DoorDash by 448.8% in the third quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after purchasing an additional 359 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of DoorDash by 361.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock worth $39,000 after acquiring an additional 307 shares during the last quarter. Covestor Ltd grew its position in shares of DoorDash by 101.2% during the third quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $40,000 after acquiring an additional 253 shares during the last quarter. Valley National Advisers Inc. purchased a new position in shares of DoorDash during the fourth quarter worth approximately $43,000. Finally, SJS Investment Consulting Inc. grew its position in shares of DoorDash by 26.9% during the fourth quarter. SJS Investment Consulting Inc. now owns 462 shares of the company’s stock worth $46,000 after acquiring an additional 98 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.