DoorDash (NASDAQ:DASH) Given New $198.00 Price Target at Wells Fargo & Company

DoorDash (NASDAQ:DASH) had its price target lowered by research analysts at Wells Fargo & Company from $221.00 to $198.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 32.48% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. BMO Capital Markets reissued an “outperform” rating on shares of DoorDash in a report on Friday, December 12th. Evercore set a $300.00 target price on shares of DoorDash in a research note on Thursday, February 19th. Citizens Jmp decreased their target price on shares of DoorDash from $285.00 to $250.00 and set a “market outperform” rating for the company in a research report on Friday, February 20th. Guggenheim dropped their price target on shares of DoorDash from $275.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Finally, Truist Financial lifted their price target on DoorDash from $330.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $263.12.

DoorDash Stock Performance

Shares of DoorDash stock traded up $2.85 on Monday, reaching $149.45. 1,796,926 shares of the company were exchanged, compared to its average volume of 5,019,466. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.41 and a current ratio of 1.41. The company’s 50-day moving average is $178.64 and its two-hundred day moving average is $216.17. The firm has a market cap of $64.93 billion, a price-to-earnings ratio of 70.31 and a beta of 1.82. DoorDash has a 1-year low of $143.30 and a 1-year high of $285.50.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.10). The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.98 billion. DoorDash had a return on equity of 10.15% and a net margin of 6.82%.The company’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. As a group, research analysts expect that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Prabir Adarkar sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $204.59, for a total value of $3,068,850.00. Following the completion of the transaction, the chief operating officer directly owned 874,130 shares in the company, valued at $178,838,256.70. This trade represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andy Fang sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $222.52, for a total transaction of $6,675,600.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 167,317 shares of company stock worth $35,720,931 in the last 90 days. 5.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

A number of institutional investors have recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. increased its position in shares of DoorDash by 284.0% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock valued at $26,000 after purchasing an additional 71 shares during the period. MV Capital Management Inc. bought a new position in DoorDash during the fourth quarter valued at about $26,000. Eastern Bank boosted its stake in DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after buying an additional 100 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after acquiring an additional 67 shares during the period. Finally, Swiss RE Ltd. bought a new stake in DoorDash in the fourth quarter worth about $28,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.