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

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

Other equities analysts have also recently issued reports about the company. Wolfe Research increased their target price on DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Benchmark increased their price objective on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Oppenheimer boosted their target price on shares of DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Needham & Company LLC increased their target price on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of DoorDash in a report on Monday, October 7th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $175.03.

DoorDash Price Performance

Shares of DASH traded down $0.05 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 50-day moving average price is $173.54 and its 200-day moving average price is $145.09. The firm has a market cap of $71.09 billion, a price-to-earnings ratio of -380.31, a P/E/G ratio of 1.77 and a beta of 1.71. DoorDash has a 12 month low of $99.32 and a 12 month high of $181.78.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 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 net margin of 1.69% and a negative return on equity of 2.41%. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.19) EPS. As a group, equities research analysts forecast that DoorDash will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction 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. The trade was a 98.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $168.32, for a total value of $8,416,000.00. Following the completion of the sale, the director now owns 16,176 shares in the company, valued at approximately $2,722,744.32. This trade represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,019,321 shares of company stock valued at $177,554,465 in the last quarter. Company insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Aaron Wealth Advisors LLC grew its position in shares of DoorDash by 15.3% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,425 shares of the company’s stock valued at $407,000 after purchasing an additional 322 shares during the last quarter. Moss Adams Wealth Advisors LLC bought a new stake in DoorDash in the 4th quarter valued at $218,000. Kera Capital Partners Inc. acquired a new position in DoorDash in the 4th quarter valued at $236,000. Merit Financial Group LLC bought a new position in DoorDash during the 4th quarter worth $503,000. Finally, Avanza Fonder AB acquired a new stake in DoorDash in the 4th quarter worth about $4,657,000. Institutional investors and hedge funds 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.