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

DoorDash (NASDAQ:DASH) had its price objective increased by equities research analysts at Wells Fargo & Company from $150.00 to $166.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 4.86% from the stock’s current price.

Other analysts have also issued reports about the stock. KeyCorp upped their price target on shares of DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. Raymond James began coverage on DoorDash in a research note on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price target for the company. Wolfe Research boosted their price objective on DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Argus raised DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Finally, BTIG Research upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Thursday, September 19th. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $175.97.

DoorDash Price Performance

Shares of DASH stock opened at $174.48 on Thursday. DoorDash has a 12-month low of $99.32 and a 12-month high of $181.78. The firm has a market capitalization of $72.48 billion, a price-to-earnings ratio of -387.73, a price-to-earnings-growth ratio of 1.77 and a beta of 1.71. The business has a 50 day simple moving average of $173.54 and a 200 day simple moving average of $145.27.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period last year, the company earned ($0.19) earnings per share. On average, equities analysts anticipate that DoorDash will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, General Counsel Tia Sherringham sold 12,950 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $2,201,241.00. Following the transaction, the general counsel now owns 145,917 shares of the company’s stock, valued at approximately $24,802,971.66. This trade represents a 8.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $255,375. This trade represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,019,333 shares of company stock valued at $177,556,541 in the last quarter. Company insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Asset Management One Co. Ltd. raised its holdings in DoorDash by 10.6% during the third quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock valued at $16,012,000 after buying an additional 10,755 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of DoorDash by 930.5% during the 2nd quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after acquiring an additional 610,388 shares during the last quarter. Forsta AP Fonden raised its stake in shares of DoorDash by 18.6% in the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after acquiring an additional 10,100 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in DoorDash by 48.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock worth $1,522,000 after purchasing an additional 3,498 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares during the last quarter. 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.