Wells Fargo & Company Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price objective increased by analysts at Wells Fargo & Company from $150.00 to $166.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 3.00% from the stock’s previous close.

DASH has been the topic of a number of other reports. Piper Sandler boosted their price objective on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Susquehanna boosted their price target on DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research note on Friday, November 1st. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price objective on shares of DoorDash in a research report on Thursday, January 2nd. 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 price objective on the stock. Finally, Barclays upped their price target on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.03.

DoorDash Stock Down 0.0 %

Shares of DASH stock traded down $0.05 during mid-day trading on Thursday, reaching $171.14. 241,287 shares of the stock traded hands, compared to its average volume of 2,205,563. The stock’s fifty day simple moving average is $173.54 and its two-hundred day simple moving average is $145.09. The company has a market cap of $71.09 billion, a price-to-earnings ratio of -380.31, a price-to-earnings-growth ratio of 1.77 and a beta of 1.71. DoorDash has a 1-year low of $99.32 and a 1-year high of $181.78.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm’s 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 research analysts anticipate that DoorDash will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $170.25, for a total value of $18,443,523.00. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $255,375. This represents a 98.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $179.76, for a total transaction of $1,258,320.00. Following the completion of the sale, the chief financial officer now owns 373,993 shares of the company’s stock, valued at $67,228,981.68. This trade represents a 1.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,019,321 shares of company stock valued at $177,554,465 in the last ninety days. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several large investors have recently bought and sold shares of DASH. Aaron Wealth Advisors LLC lifted its stake in DoorDash by 15.3% during the 4th quarter. Aaron Wealth Advisors LLC now owns 2,425 shares of the company’s stock valued at $407,000 after acquiring an additional 322 shares during the period. Moss Adams Wealth Advisors LLC purchased a new stake in shares of DoorDash during the 4th quarter valued at about $218,000. Kera Capital Partners Inc. bought a new position in shares of DoorDash in the 4th quarter worth approximately $236,000. Merit Financial Group LLC bought a new position in DoorDash in the fourth quarter worth approximately $503,000. Finally, Avanza Fonder AB purchased a new position in shares of DoorDash during the 4th quarter valued at about $4,657,000. 90.64% of the stock is currently 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.