FBN Securities Initiates Coverage on DoorDash (NASDAQ:DASH)

Investment analysts at FBN Securities began coverage on shares of DoorDash (NASDAQ:DASH) in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $230.00 price target on the stock. FBN Securities’ price target suggests a potential upside of 25.95% from the company’s previous close.

Several other equities analysts also recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of DoorDash from $166.00 to $198.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Oppenheimer restated a “hold” rating on shares of DoorDash in a research note on Monday, March 10th. UBS Group increased their price target on DoorDash from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Loop Capital boosted their price objective on DoorDash from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Finally, The Goldman Sachs Group increased their target price on DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.21.

DoorDash Stock Performance

NASDAQ:DASH opened at $182.61 on Friday. The stock has a 50-day simple moving average of $192.00 and a two-hundred day simple moving average of $172.10. The firm has a market capitalization of $76.71 billion, a PE ratio of 676.33 and a beta of 1.70. DoorDash has a 52-week low of $99.32 and a 52-week high of $215.25.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $170.35, for a total value of $18,454,356.20. Following the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $255,525. This represents a 98.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Keith Yandell sold 8,116 shares of DoorDash stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $1,651,200.20. Following the sale, the insider now owns 105,162 shares of the company’s stock, valued at approximately $21,395,208.90. This trade represents a 7.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 358,445 shares of company stock valued at $63,443,370 in the last ninety days. 7.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently added to or reduced their stakes in DASH. Raymond James Trust N.A. bought a new position in DoorDash in the third quarter worth approximately $216,000. Townsquare Capital LLC grew its position in shares of DoorDash by 129.6% during the 3rd quarter. Townsquare Capital LLC now owns 5,640 shares of the company’s stock worth $805,000 after buying an additional 3,184 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of DoorDash by 108.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 73,117 shares of the company’s stock valued at $10,436,000 after buying an additional 38,076 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of DoorDash by 10.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,539 shares of the company’s stock valued at $244,859,000 after acquiring an additional 159,449 shares in the last quarter. Finally, Vinva Investment Management Ltd lifted its stake in DoorDash by 2.9% in the third quarter. Vinva Investment Management Ltd now owns 13,628 shares of the company’s stock worth $1,938,000 after acquiring an additional 383 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.