DoorDash (NASDAQ:DASH) Price Target Lowered to $199.00 at Wells Fargo & Company

DoorDash (NASDAQ:DASH) had its price objective cut by research analysts at Wells Fargo & Company from $200.00 to $199.00 in a report released on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 3.64% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Piper Sandler lowered their target price on DoorDash from $220.00 to $205.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Stifel Nicolaus dropped their target price on DoorDash from $215.00 to $185.00 and set a “hold” rating for the company in a report on Monday, April 13th. BTIG Research reduced their target price on shares of DoorDash from $280.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, June 12th. DA Davidson decreased their price target on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Finally, Argus set a $190.00 price target on shares of DoorDash in a research report on Thursday, June 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $256.08.

DoorDash Stock Performance

Shares of DASH stock opened at $192.01 on Monday. The company has a market capitalization of $83.66 billion, a price-to-earnings ratio of 91.43 and a beta of 1.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The company has a 50-day simple moving average of $165.99 and a 200 day simple moving average of $180.23. DoorDash has a 52 week low of $143.30 and a 52 week high of $285.50.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The business’s revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. On average, sell-side analysts predict that DoorDash will post 2.41 earnings per share for the current year.

Insider Transactions at DoorDash

In related news, COO Prabir Adarkar sold 21,739 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the completion of the sale, the chief operating officer directly owned 959,076 shares in the company, valued at $148,896,549. This represents a 2.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shona L. Brown sold 582 shares of DoorDash stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $177.06, for a total value of $103,048.92. Following the completion of the transaction, the director owned 31,156 shares in the company, valued at approximately $5,516,481.36. This represents a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 42,707 shares of company stock worth $7,113,039. 5.83% of the stock is owned by insiders.

Institutional Trading of DoorDash

Several institutional investors have recently added to or reduced their stakes in the stock. Eastern Bank raised its holdings in DoorDash by 714.3% during the 4th quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. MV Capital Management Inc. acquired a new stake in shares of DoorDash during the fourth quarter worth $26,000. Swiss RE Ltd. bought a new position in DoorDash during the fourth quarter worth $28,000. ST Germain D J Co. Inc. acquired a new position in DoorDash in the fourth quarter valued at $29,000. Finally, Kemnay Advisory Services Inc. bought a new stake in DoorDash during the fourth quarter valued at $32,000. 90.64% of the stock is currently owned by institutional investors.

About DoorDash

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.