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

Loop Capital started coverage on shares of DoorDash (NASDAQ:DASH) in a research report sent to investors on Friday morning, MarketBeat reports. The firm issued a buy rating and a $170.00 target price on the stock.

A number of other research firms have also recently weighed in on DASH. Royal Bank of Canada raised DoorDash from a sector perform rating to an outperform rating and increased their price objective for the stock from $130.00 to $175.00 in a research report on Monday, March 4th. Wells Fargo & Company lifted their target price on shares of DoorDash from $100.00 to $125.00 and gave the company an equal weight rating in a report on Thursday, April 4th. Susquehanna boosted their target price on DoorDash from $110.00 to $135.00 and gave the stock a positive rating in a research report on Tuesday, February 20th. Jefferies Financial Group raised DoorDash from a hold rating to a buy rating and raised their price target for the company from $90.00 to $130.00 in a report on Monday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on DoorDash from $140.00 to $155.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Nine equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $130.52.

DoorDash Stock Performance

NASDAQ:DASH opened at $127.27 on Friday. DoorDash has a 1 year low of $56.59 and a 1 year high of $143.34. The stock has a market cap of $51.42 billion, a P/E ratio of -89.00, a P/E/G ratio of 14.15 and a beta of 1.79. The stock has a 50-day simple moving average of $130.55 and a 200-day simple moving average of $107.54.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, February 15th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.24). DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the firm earned ($0.63) earnings per share. The business’s revenue was up 26.7% compared to the same quarter last year. On average, equities research analysts predict that DoorDash will post 0.21 EPS for the current year.

Insider Activity

In related news, insider Keith Yandell sold 3,500 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $104.89, for a total transaction of $367,115.00. Following the completion of the sale, the insider now directly owns 179,350 shares of the company’s stock, valued at approximately $18,812,021.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Keith Yandell sold 3,500 shares of DoorDash stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $104.89, for a total transaction of $367,115.00. Following the sale, the insider now owns 179,350 shares in the company, valued at $18,812,021.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 132,300 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $133.51, for a total transaction of $17,663,373.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 497,282 shares of company stock valued at $64,885,042. Company insiders own 9.59% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Versor Investments LP bought a new stake in shares of DoorDash during the 3rd quarter valued at about $556,000. Assenagon Asset Management S.A. raised its position in DoorDash by 1,725.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after buying an additional 1,052,198 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of DoorDash during the fourth quarter worth approximately $769,000. Angeles Investment Advisors LLC purchased a new stake in shares of DoorDash during the third quarter worth $336,000. Finally, Bank of Nova Scotia lifted its holdings in shares of DoorDash by 685.9% during the 3rd quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock valued at $3,715,000 after buying an additional 40,802 shares during the last quarter. 90.64% of the stock is currently owned by 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.