Wells Fargo & Company Raises DoorDash (NASDAQ:DASH) Price Target to $142.00

DoorDash (NASDAQ:DASH) had its price target raised by Wells Fargo & Company from $127.00 to $142.00 in a report issued on Friday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages also recently commented on DASH. Evercore ISI raised their price objective on DoorDash from $145.00 to $155.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. Oppenheimer raised their target price on DoorDash from $145.00 to $160.00 and gave the stock an outperform rating in a research report on Friday, September 27th. UBS Group boosted their price target on shares of DoorDash from $125.00 to $143.00 and gave the company a neutral rating in a report on Friday, August 2nd. Redburn Atlantic assumed coverage on shares of DoorDash in a research note on Friday, July 26th. They issued a buy rating and a $170.00 price objective for the company. Finally, Raymond James initiated coverage on shares of DoorDash in a research report on Tuesday, September 24th. They set an outperform rating and a $155.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $146.91.

DoorDash Trading Up 1.9 %

Shares of DoorDash stock opened at $144.86 on Friday. The company has a market cap of $59.24 billion, a price-to-earnings ratio of -134.13, a PEG ratio of 295.70 and a beta of 1.70. DoorDash has a 1 year low of $69.90 and a 1 year high of $146.36. The company’s fifty day simple moving average is $129.04 and its 200-day simple moving average is $122.30.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the firm posted ($0.44) EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, research analysts forecast that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $104.96, for a total transaction of $5,685,263.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $104.96, for a total transaction of $5,685,263.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now owns 18,089 shares in the company, valued at $2,355,187.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 281,503 shares of company stock worth $33,988,063. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DASH. Meeder Asset Management Inc. lifted its stake in DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares during the period. Headlands Technologies LLC acquired a new stake in shares of DoorDash in the 2nd quarter valued at approximately $32,000. Versant Capital Management Inc boosted its stake in DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares during the last quarter. ORG Partners LLC grew its holdings in DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 253 shares during the period. Finally, Quest Partners LLC increased its stake in DoorDash by 146.8% in 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. 90.64% of the stock is currently owned by institutional investors.

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.