Wells Fargo & Company Forecasts Strong Price Appreciation for DoorDash (NASDAQ:DASH) Stock

DoorDash (NASDAQ:DASH) had its price objective increased by equities researchers at Wells Fargo & Company from $198.00 to $201.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 23.19% from the company’s previous close.

A number of other equities analysts also recently issued reports on DASH. Evercore ISI reaffirmed an “outperform” rating on shares of DoorDash in a report on Monday, March 10th. The Goldman Sachs Group lifted their target price on shares of DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. KeyCorp upped their target price on DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Argus raised DoorDash from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Finally, Susquehanna raised their price objective on shares of DoorDash from $180.00 to $235.00 and gave the stock a “positive” rating in a report on Thursday, February 13th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $207.29.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $163.16 on Thursday. The stock has a market cap of $68.54 billion, a price-to-earnings ratio of 604.30 and a beta of 1.70. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $215.25. The firm’s 50-day simple moving average is $191.90 and its 200 day simple moving average is $173.46.

Insiders Place Their Bets

In related news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $170.01, for a total transaction of $8,500,500.00. Following the transaction, the director now owns 16,176 shares in the company, valued at $2,750,081.76. The trade was a 75.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total value of $8,228,746.10. Following the completion of the sale, the director now owns 18,285 shares of the company’s stock, valued at approximately $3,313,424.85. This trade represents a 71.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 258,523 shares of company stock valued at $47,227,120. 7.92% of the stock is currently owned by corporate insiders.

Institutional Trading of DoorDash

Several large investors have recently added to or reduced their stakes in DASH. Versant Capital Management Inc raised its holdings in DoorDash by 185.6% in the 1st quarter. Versant Capital Management Inc now owns 2,570 shares of the company’s stock worth $470,000 after purchasing an additional 1,670 shares in the last quarter. Kera Capital Partners Inc. lifted its holdings in DoorDash by 28.4% in the first quarter. Kera Capital Partners Inc. now owns 1,804 shares of the company’s stock worth $330,000 after buying an additional 399 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in shares of DoorDash by 80.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 492 shares of the company’s stock worth $90,000 after acquiring an additional 220 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of DoorDash by 234.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 38,990 shares of the company’s stock worth $6,541,000 after acquiring an additional 27,330 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of DoorDash in the 4th quarter valued at approximately $16,876,000. Institutional investors own 90.64% of the company’s stock.

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.