DoorDash (NASDAQ:DASH) Price Target Lowered to $239.00 at Wells Fargo & Company

DoorDash (NASDAQ:DASH) had its target price decreased by Wells Fargo & Company from $301.00 to $239.00 in a report released on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group initiated coverage on shares of DoorDash in a research report on Monday, October 27th. They set a “buy” rating and a $315.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of DoorDash in a report on Wednesday, October 8th. Guggenheim raised DoorDash to a “strong-buy” rating in a report on Wednesday, October 15th. Royal Bank Of Canada dropped their price objective on shares of DoorDash from $300.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Wedbush decreased their target price on shares of DoorDash from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.62.

DoorDash Stock Performance

NASDAQ DASH traded up $7.85 during trading hours on Thursday, reaching $204.31. The stock had a trading volume of 9,522,053 shares, compared to its average volume of 4,258,160. The stock has a fifty day moving average of $259.57 and a 200 day moving average of $237.02. The stock has a market cap of $87.28 billion, a P/E ratio of 99.73 and a beta of 1.70. DoorDash has a 52-week low of $155.40 and a 52-week high of $285.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.07 and a current ratio of 2.04.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). The business had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The business’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 earnings per share. Sell-side analysts predict that DoorDash will post 2.22 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Shona L. Brown sold 1,250 shares of the business’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $277.47, for a total transaction of $346,837.50. Following the completion of the sale, the director directly owned 37,252 shares in the company, valued at approximately $10,336,312.44. The trade was a 3.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $263.86, for a total value of $376,000.50. Following the completion of the transaction, the chief financial officer owned 214,147 shares in the company, valued at approximately $56,504,827.42. This trade represents a 0.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 876,527 shares of company stock valued at $218,129,954. Corporate insiders own 5.83% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DASH. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in DoorDash by 11.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 368,157 shares of the company’s stock worth $99,881,000 after purchasing an additional 37,673 shares during the last quarter. Fiera Capital Corp raised its position in shares of DoorDash by 85.4% in the third quarter. Fiera Capital Corp now owns 58,076 shares of the company’s stock valued at $15,796,000 after buying an additional 26,746 shares during the last quarter. NewEdge Wealth LLC lifted its stake in shares of DoorDash by 20.9% in the third quarter. NewEdge Wealth LLC now owns 4,934 shares of the company’s stock worth $1,342,000 after buying an additional 853 shares in the last quarter. Cercano Management LLC acquired a new position in DoorDash during the third quarter worth about $7,019,000. Finally, Syon Capital LLC grew its stake in DoorDash by 0.3% during the 3rd quarter. Syon Capital LLC now owns 256,180 shares of the company’s stock valued at $69,678,000 after acquiring an additional 833 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

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.