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

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

Other equities research analysts have also recently issued reports about the stock. Argus assumed coverage on shares of DoorDash in a report on Tuesday, July 23rd. They set a hold rating for the company. Susquehanna boosted their target price on DoorDash from $135.00 to $140.00 and gave the stock a positive rating in a report on Monday, August 5th. Oppenheimer raised their price target on DoorDash from $145.00 to $160.00 and gave the company an outperform rating in a report on Friday, September 27th. JPMorgan Chase & Co. boosted their price objective on DoorDash from $111.00 to $137.00 and gave the stock a neutral rating in a research note on Friday, August 2nd. Finally, BTIG Research upgraded DoorDash from a neutral rating to a buy rating and set a $155.00 target price for the company in a research note on Thursday, September 19th. Ten analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $146.91.

DoorDash Stock Down 1.9 %

Shares of DASH opened at $142.08 on Friday. DoorDash has a 12 month low of $69.90 and a 12 month high of $146.36. The company’s fifty day moving average is $129.04 and its 200-day moving average is $122.20. The firm has a market cap of $58.10 billion, a price-to-earnings ratio of -133.01, a price-to-earnings-growth ratio of 295.70 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the prior year, the firm earned ($0.44) EPS. DoorDash’s quarterly revenue was up 23.3% on a year-over-year basis. As a group, research analysts predict that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total value of $5,278,500.00. Following the completion of the sale, the director now owns 19,982 shares in the company, valued at $2,109,499.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other DoorDash 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 value of $5,685,263.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the completion of the transaction, the director now owns 19,982 shares of the company’s stock, valued at $2,109,499.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 281,503 shares of company stock valued at $33,988,063 over the last three months. 7.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Several institutional investors have recently added to or reduced their stakes in DASH. Janus Henderson Group PLC raised its stake in shares of DoorDash by 11,416.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after purchasing an additional 3,425,115 shares during the period. Vanguard Group Inc. raised its position in DoorDash by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after buying an additional 2,259,976 shares during the last quarter. Dragoneer Investment Group LLC lifted its stake in DoorDash by 77.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after acquiring an additional 1,246,567 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in DoorDash by 595.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock worth $122,830,000 after acquiring an additional 763,579 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in DoorDash by 3,284.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock worth $79,385,000 after acquiring an additional 708,218 shares during the last quarter. 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.