FBN Securities Begins Coverage on DoorDash (NASDAQ:DASH)

Stock analysts at FBN Securities initiated coverage on shares of DoorDash (NASDAQ:DASH) in a research note issued to investors on Friday. The brokerage set an “outperform” rating and a $230.00 price target on the stock. FBN Securities’ price target indicates a potential upside of 18.54% from the stock’s previous close.

A number of other research firms also recently issued reports on DASH. Morgan Stanley boosted their price target on DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada boosted their target price on DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. increased their target price on shares of DoorDash from $155.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Mizuho lifted their price target on shares of DoorDash from $200.00 to $222.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Argus raised shares of DoorDash from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Ten analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $207.21.

DoorDash Stock Up 0.6 %

Shares of DASH opened at $194.02 on Friday. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $215.25. The company’s fifty day moving average is $191.84 and its two-hundred day moving average is $171.37. The firm has a market cap of $81.51 billion, a PE ratio of 718.59 and a beta of 1.70.

Insider Buying and Selling

In related news, CEO Tony Xu sold 108,332 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total transaction of $18,454,356.20. Following the sale, the chief executive officer now owns 1,500 shares in the company, valued at $255,525. This represents a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $169.32, for a total value of $1,185,240.00. Following the completion of the transaction, the chief financial officer now owns 366,993 shares of the company’s stock, valued at approximately $62,139,254.76. The trade was a 1.87 % 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 worth $63,443,370 over the last ninety days. 7.92% of the stock is owned by insiders.

Institutional Investors Weigh In On DoorDash

Several large investors have recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. bought a new position in shares of DoorDash during the fourth quarter worth about $29,000. Denver PWM LLC acquired a new position in DoorDash during the 4th quarter valued at about $30,000. Princeton Global Asset Management LLC bought a new position in DoorDash in the 4th quarter worth about $34,000. ORG Wealth Partners LLC acquired a new stake in shares of DoorDash in the fourth quarter valued at approximately $36,000. Finally, IFP Advisors Inc raised its holdings in shares of DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after buying an additional 54 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Company Profile

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.