DoorDash (NASDAQ:DASH) Price Target Raised to $166.00

DoorDash (NASDAQ:DASH) had its price target raised by Wells Fargo & Company from $150.00 to $166.00 in a research report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

DASH has been the topic of several other reports. Loop Capital raised their target price on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Morgan Stanley upped their target price on DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Benchmark boosted their price target on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of DoorDash in a research note on Monday, October 7th. Finally, Barclays boosted their target price on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.97.

DoorDash Trading Up 2.1 %

NASDAQ:DASH opened at $174.48 on Thursday. The stock has a 50 day simple moving average of $173.60 and a 200 day simple moving average of $145.99. DoorDash has a 1-year low of $99.32 and a 1-year high of $181.78. The stock has a market cap of $72.48 billion, a P/E ratio of -387.73, a PEG ratio of 1.77 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the business posted ($0.19) earnings per share. DoorDash’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, sell-side analysts forecast that DoorDash will post 0.26 EPS for the current year.

Insiders Place Their Bets

In other news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the transaction, the director now owns 16,176 shares of the company’s stock, valued at $2,722,744.32. This represents a 75.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $170.25, for a total value of $18,443,523.00. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $255,375. The trade was a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,019,333 shares of company stock worth $177,556,541. Corporate insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of large investors have recently modified their holdings of the company. Rakuten Securities Inc. raised its holdings in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after buying an additional 130 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of DoorDash during the fourth quarter worth about $36,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of DoorDash by 34.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after acquiring an additional 69 shares during the last quarter. Quest Partners LLC lifted its position in DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares in the last quarter. Finally, Hollencrest Capital Management acquired a new position in DoorDash during the 3rd quarter valued at about $54,000. 90.64% of the stock is currently owned by institutional investors.

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.