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

DoorDash (NASDAQ:DASH) had its price objective upped by research analysts at Wells Fargo & Company from $127.00 to $142.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 1.61% from the stock’s current price.

A number of other equities research analysts have also recently commented on DASH. Morgan Stanley increased their price target on shares of DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Benchmark reaffirmed a “buy” rating and set a $150.00 price target on shares of DoorDash in a report on Tuesday, July 30th. Roth Mkm increased their price objective on DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Susquehanna boosted their target price on DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of DoorDash from $111.00 to $137.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $146.91.

DoorDash Stock Up 1.5 %

Shares of DASH stock traded up $2.20 during trading hours on Friday, hitting $144.32. 270,802 shares of the company’s stock traded hands, compared to its average volume of 3,897,843. The stock has a market cap of $59.01 billion, a price-to-earnings ratio of -133.63, a PEG ratio of 295.70 and a beta of 1.70. The stock’s fifty day simple moving average is $127.41 and its two-hundred day simple moving average is $122.12. DoorDash has a 12-month low of $69.90 and a 12-month high of $146.36.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, August 1st. The company reported ($0.38) 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 during the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the firm posted ($0.44) earnings per share. The company’s revenue was up 23.3% compared to the same quarter last year. On average, equities analysts forecast that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the sale, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 281,503 shares of company stock valued at $33,988,063. 7.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. ORG Partners LLC grew its holdings in shares of 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 buying an additional 253 shares during the last quarter. Headlands Technologies LLC purchased a new stake in DoorDash in the second quarter valued at approximately $32,000. Meeder Asset Management Inc. raised its position in DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares during the last quarter. Hollencrest Capital Management purchased a new stake in shares of DoorDash in the 1st quarter valued at $42,000. Finally, Versant Capital Management Inc increased its stake in shares of DoorDash by 340.8% in the second 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 period. 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.