DoorDash (NASDAQ:DASH) Price Target Lowered to $198.00 at Wells Fargo & Company

DoorDash (NASDAQ:DASH) had its price target reduced by Wells Fargo & Company from $221.00 to $198.00 in a research note released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other equities research analysts have also issued reports on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of DoorDash in a report on Friday, December 12th. Roth Mkm reaffirmed a “neutral” rating and set a $200.00 target price on shares of DoorDash in a research note on Thursday, February 19th. UBS Group lowered their price target on shares of DoorDash from $245.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, February 19th. Argus dropped their price target on DoorDash from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, December 12th. Finally, Piper Sandler reissued a “neutral” rating and set a $220.00 price objective (down from $230.00) on shares of DoorDash in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average price target of $263.12.

DoorDash Stock Performance

NASDAQ:DASH opened at $148.01 on Monday. DoorDash has a twelve month low of $143.30 and a twelve month high of $285.50. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.27. The stock’s 50-day simple moving average is $177.50 and its 200 day simple moving average is $215.38. The firm has a market capitalization of $64.30 billion, a PE ratio of 69.82 and a beta of 1.82.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, February 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.10). The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.98 billion. DoorDash had a return on equity of 10.15% and a net margin of 6.82%.The firm’s revenue was up 37.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 EPS. On average, analysts anticipate that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Activity

In related news, COO Prabir Adarkar sold 15,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $204.59, for a total transaction of $3,068,850.00. Following the completion of the transaction, the chief operating officer directly owned 874,130 shares of the company’s stock, valued at $178,838,256.70. This trade represents a 1.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tony Xu sold 16,667 shares of DoorDash stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $230.00, for a total value of $3,833,410.00. Following the transaction, the chief executive officer directly owned 1,500 shares in the company, valued at $345,000. The trade was a 91.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 167,317 shares of company stock valued at $35,720,931. 5.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC increased its position in DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after purchasing an additional 1,807 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of DoorDash by 21.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock worth $314,000 after purchasing an additional 303 shares during the period. Empowered Funds LLC boosted its stake in shares of DoorDash by 3.6% in the 1st quarter. Empowered Funds LLC now owns 8,130 shares of the company’s stock valued at $1,486,000 after purchasing an additional 285 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of DoorDash by 92.9% during the second quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company’s stock worth $1,049,000 after buying an additional 2,049 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of DoorDash by 43.4% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 5,144 shares of the company’s stock worth $1,268,000 after buying an additional 1,557 shares during the period. 90.64% of the stock is currently owned by institutional investors.

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.