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

DoorDash (NASDAQ:DASH) had its price objective increased by equities research analysts at Wells Fargo & Company from $166.00 to $198.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential downside of 0.73% from the company’s current price.

A number of other research analysts have also commented on DASH. UBS Group upped their target price on DoorDash from $182.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Needham & Company LLC upped their target price on DoorDash from $180.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $200.00 price target on shares of DoorDash in a research report on Thursday, February 6th. Truist Financial upped their price target on DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Finally, Morgan Stanley upped their price target on DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $192.48.

DoorDash Stock Up 3.3 %

Shares of DASH stock traded up $6.37 during trading hours on Wednesday, reaching $199.46. 3,798,604 shares of the company’s stock were exchanged, compared to its average volume of 2,818,003. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $200.60. The stock has a market capitalization of $82.86 billion, a P/E ratio of -443.24, a P/E/G ratio of 2.04 and a beta of 1.72. The business has a fifty day moving average price of $177.52 and a 200-day moving average price of $156.06.

Insider Transactions at DoorDash

In other news, COO Prabir Adarkar sold 20,000 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $180.83, for a total transaction of $3,616,600.00. Following the sale, the chief operating officer now owns 925,222 shares of the company’s stock, valued at $167,307,894.26. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $170.25, for a total value of $18,443,523.00. Following the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $255,375. This represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,040,758 shares of company stock valued at $181,434,201 over the last 90 days. 7.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Orion Portfolio Solutions LLC raised its position in DoorDash by 11.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 9,163 shares of the company’s stock valued at $1,537,000 after buying an additional 957 shares during the last quarter. Riverchase Wealth Management LLC acquired a new stake in DoorDash in the 4th quarter valued at approximately $336,000. Pictet Asset Management Holding SA raised its position in DoorDash by 12.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 172,062 shares of the company’s stock valued at $28,863,000 after buying an additional 18,401 shares during the last quarter. Norges Bank acquired a new stake in DoorDash in the 4th quarter valued at approximately $597,443,000. Finally, Blair William & Co. IL raised its position in DoorDash by 18.2% in the 4th quarter. Blair William & Co. IL now owns 4,304 shares of the company’s stock valued at $722,000 after buying an additional 664 shares during the last quarter. Institutional investors and hedge funds 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.