Wells Fargo & Company Raises DoorDash (NASDAQ:DASH) Price Target to $166.00

DoorDash (NASDAQ:DASH - Get Free Report) had its price objective lifted by analysts at Wells Fargo & Company from $150.00 to $166.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would indicate a potential downside of 2.84% from the stock's previous close.

Several other research analysts have also recently weighed in on the company. Susquehanna upped their price objective on DoorDash from $140.00 to $180.00 and gave the stock a "positive" rating in a research report on Friday, November 1st. Truist Financial upped their price target on DoorDash from $180.00 to $217.00 and gave the stock a "buy" rating in a research report on Tuesday, December 17th. Royal Bank of Canada raised their price target on shares of DoorDash from $175.00 to $215.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Citigroup increased their target price on shares of DoorDash from $155.00 to $211.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Finally, Evercore ISI raised their target price on shares of DoorDash from $155.00 to $200.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, DoorDash has an average rating of "Moderate Buy" and a consensus target price of $175.97.

DoorDash Stock Performance

DASH stock traded down $0.34 during mid-day trading on Thursday, hitting $170.85. 2,007,999 shares of the company were exchanged, compared to its average volume of 2,387,400. DoorDash has a 1-year low of $99.32 and a 1-year high of $181.78. The firm's 50 day simple moving average is $173.54 and its 200 day simple moving average is $145.09. The firm has a market cap of $70.97 billion, a P/E ratio of -379.67, a P/E/G ratio of 1.77 and a beta of 1.71.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 25.0% on a year-over-year basis. During the same period last year, the business posted ($0.19) earnings per share. On average, equities research analysts predict that DoorDash will post 0.26 EPS for the current fiscal year.

Insider Activity

In other news, CEO Tony Xu sold 108,334 shares of DoorDash stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $180.07, for a total value of $19,507,703.38. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $270,105. The trade was a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $172.67, for a total value of $8,633,500.00. Following the completion of the sale, the director now owns 18,089 shares of the company's stock, valued at approximately $3,123,427.63. This trade represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,019,333 shares of company stock valued at $177,556,541. 7.92% of the stock is owned by insiders.

Institutional Investors Weigh In On DoorDash

A number of large investors have recently bought and sold shares of DASH. Rakuten Securities Inc. raised its position in shares of DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company's stock valued at $25,000 after buying an additional 130 shares in the last quarter. ORG Wealth Partners LLC bought a new position in DoorDash in the fourth quarter valued at approximately $36,000. Quest Partners LLC raised its position in DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company's stock valued at $37,000 after purchasing an additional 204 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in DoorDash by 34.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company's stock worth $46,000 after purchasing an additional 69 shares during the last quarter. Finally, Hollencrest Capital Management bought a new stake in DoorDash during the third quarter worth $54,000. 90.64% of the stock is currently 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.