Loop Capital Boosts DoorDash (NASDAQ:DASH) Price Target to $235.00

DoorDash (NASDAQ:DASH - Get Free Report) had its target price increased by stock analysts at Loop Capital from $200.00 to $235.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Loop Capital's target price would indicate a potential upside of 18.33% from the stock's current price.

A number of other research analysts also recently weighed in on the company. Bank of America raised their price objective on DoorDash from $205.00 to $245.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Needham & Company LLC boosted their target price on DoorDash from $180.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Royal Bank of Canada upped their target price on shares of DoorDash from $215.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Wells Fargo & Company increased their price objective 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. Finally, Barclays boosted their price target on shares of DoorDash from $163.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, February 13th. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $206.52.

DoorDash Stock Performance

DASH stock opened at $198.60 on Monday. The stock has a market cap of $83.43 billion, a P/E ratio of 735.56 and a beta of 1.72. The firm has a 50 day simple moving average of $183.84 and a 200 day simple moving average of $162.54. DoorDash has a 52 week low of $99.32 and a 52 week high of $215.24.

Insider Activity

In related news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $179.76, for a total value of $1,258,320.00. Following the completion of the sale, the chief financial officer now directly owns 373,993 shares in the company, valued at approximately $67,228,981.68. This trade represents a 1.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Keith Yandell sold 8,116 shares of DoorDash stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the completion of the sale, the insider now owns 105,162 shares of the company's stock, valued at $21,395,208.90. This represents a 7.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 760,662 shares of company stock worth $134,448,673. Corporate insiders own 7.92% of the company's stock.

Institutional Investors Weigh In On DoorDash

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in DoorDash in the 3rd quarter worth about $1,772,000. Ballentine Partners LLC boosted its holdings in shares of DoorDash by 29.8% in the 3rd quarter. Ballentine Partners LLC now owns 2,850 shares of the company's stock valued at $407,000 after buying an additional 655 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of DoorDash by 14.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,676 shares of the company's stock worth $10,763,000 after purchasing an additional 9,359 shares in the last quarter. Forsta AP Fonden raised its stake in DoorDash by 18.6% in the third quarter. Forsta AP Fonden now owns 64,500 shares of the company's stock valued at $9,206,000 after buying an additional 10,100 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in DoorDash by 8.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,660 shares of the company's stock worth $1,664,000 after purchasing an additional 942 shares in 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.