Loop Capital Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its price objective lifted by equities researchers at Loop Capital from $170.00 to $200.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s target price would suggest a potential upside of 13.79% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. UBS Group increased their target price on DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Bank of America increased their price objective on DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Mizuho lifted their target price on shares of DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Truist Financial increased their price target on shares of DoorDash from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Piper Sandler boosted their price objective on shares of DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.03.

DoorDash Price Performance

Shares of DASH opened at $175.76 on Tuesday. DoorDash has a 1 year low of $90.87 and a 1 year high of $178.16. The stock has a 50 day simple moving average of $147.14 and a two-hundred day simple moving average of $126.41. The firm has a market cap of $73.01 billion, a P/E ratio of -390.58, a P/E/G ratio of 14.85 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion during 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 firm’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) EPS. On average, equities analysts anticipate that DoorDash will post 0.24 earnings per share for the current year.

Insider Buying and Selling

In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 396,152 shares in the company, valued at approximately $50,651,994.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Tony Xu sold 81,249 shares of DoorDash stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the company’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 owns 396,152 shares in the company, valued at $50,651,994.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 324,539 shares of company stock worth $46,439,330 in the last quarter. Corporate insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

A number of large investors have recently made changes to their positions in the stock. Rakuten Securities Inc. boosted its holdings in DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of DoorDash in the second quarter worth $32,000. Versant Capital Management Inc increased its position in DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares during the last quarter. Finally, Quest Partners LLC lifted its holdings in DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares during the period. 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.