DoorDash (NASDAQ:DASH) Given New $166.00 Price Target at Wells Fargo & Company

DoorDash (NASDAQ:DASH) had its target price boosted by research analysts at Wells Fargo & Company from $150.00 to $166.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential downside of 4.86% from the company’s current price.

Several other equities analysts have also recently commented on the stock. Truist Financial upped their target price on shares of DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Bank of America upped their price objective on shares of DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Thursday, September 19th. Argus upgraded DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Finally, Raymond James initiated coverage on DoorDash in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price objective for the company. Nine 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.97.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $174.48 on Thursday. The stock’s 50-day moving average is $173.54 and its 200-day moving average is $145.27. The company has a market cap of $72.48 billion, a P/E ratio of -387.73, a P/E/G ratio of 1.77 and a beta of 1.71. DoorDash has a 52-week low of $99.32 and a 52-week high of $181.78.

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

Insiders Place Their Bets

In other news, insider Keith Yandell sold 7,980 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $1,356,440.40. Following the completion of the sale, the insider now directly owns 124,221 shares in the company, valued at approximately $21,115,085.58. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Tony Xu sold 108,334 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $180.07, for a total transaction of $19,507,703.38. Following the transaction, the chief executive officer now owns 1,500 shares in the company, valued at approximately $270,105. This trade represents a 98.63 % decrease in their position. 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 currently owned by corporate insiders.

Institutional Trading of DoorDash

Hedge funds have recently modified their holdings of the stock. Rakuten Securities Inc. raised its position in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of DoorDash in the 4th quarter valued at $36,000. Quest Partners LLC raised its position in shares of DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 204 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of DoorDash by 34.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock valued at $46,000 after acquiring an additional 69 shares during the period. Finally, Hollencrest Capital Management bought a new position in DoorDash in the third quarter valued at about $54,000. 90.64% of the stock is owned by institutional investors.

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.