Wells Fargo & Company Increases DoorDash (NASDAQ:DASH) Price Target to $127.00

DoorDash (NASDAQ:DASH) had its target price raised by Wells Fargo & Company from $125.00 to $127.00 in a research report released on Friday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also issued reports on DASH. Deutsche Bank Aktiengesellschaft boosted their price target on shares of DoorDash from $140.00 to $155.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Royal Bank of Canada cut their target price on shares of DoorDash from $175.00 to $165.00 and set an outperform rating on the stock in a research note on Thursday, May 2nd. Needham & Company LLC upped their target price on shares of DoorDash from $137.00 to $145.00 and gave the stock a buy rating in a research note on Friday. Redburn Atlantic started coverage on shares of DoorDash in a research note on Friday, July 26th. They set a buy rating and a $170.00 target price on the stock. Finally, Argus assumed coverage on DoorDash in a report on Tuesday, July 23rd. They issued a hold rating for the company. Eleven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $141.93.

DoorDash Stock Up 2.1 %

NASDAQ:DASH traded up $2.52 on Friday, reaching $123.82. 4,380,292 shares of the company’s stock were exchanged, compared to its average volume of 4,112,133. The firm has a market capitalization of $50.63 billion, a price-to-earnings ratio of -112.54, a price-to-earnings-growth ratio of 40.25 and a beta of 1.67. The business has a fifty day moving average of $109.52 and a 200-day moving average of $118.57. DoorDash has a 52-week low of $69.90 and a 52-week high of $143.34.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative return on equity of 6.00% and a negative net margin of 4.24%. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.44) earnings per share. As a group, equities analysts anticipate that DoorDash will post 0.07 earnings per share for the current year.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 131,590 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $111.61, for a total transaction of $14,686,759.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Shona L. Brown sold 1,712 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $110.97, for a total value of $189,980.64. Following the transaction, the director now owns 70,191 shares in the company, valued at $7,789,095.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Tony Xu sold 131,590 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $111.61, for a total transaction of $14,686,759.90. The disclosure for this sale can be found here. Insiders have sold a total of 459,016 shares of company stock worth $50,325,396 in the last three months. Company insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Hedge funds have recently made changes to their positions in the company. Spire Wealth Management purchased a new stake in shares of DoorDash during the first quarter valued at approximately $25,000. Venturi Wealth Management LLC raised its stake in shares of DoorDash by 54.5% during the first quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock valued at $35,000 after purchasing an additional 90 shares during the period. ORG Partners LLC raised its stake 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 purchasing an additional 253 shares during the period. Hollencrest Capital Management purchased a new stake in shares of DoorDash during the first quarter valued at approximately $42,000. Finally, Versant Capital Management Inc grew its position in shares of DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after buying an additional 259 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.