DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

DoorDash (NASDAQ:DASH) had its price objective increased by Wells Fargo & Company from $198.00 to $201.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 12.76% from the company’s previous close.

Several other equities analysts have also weighed in on the company. Oppenheimer reissued a “hold” rating on shares of DoorDash in a report on Monday, March 10th. Bank of America raised their price target on DoorDash from $205.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley increased their price objective on DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Wedbush raised their price target on DoorDash from $160.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Finally, Susquehanna increased their price target on shares of DoorDash from $180.00 to $235.00 and gave the stock a “positive” rating in a research note on Thursday, February 13th. Ten research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $207.29.

DoorDash Trading Down 5.8 %

NASDAQ:DASH traded down $11.00 during mid-day trading on Thursday, hitting $178.25. 3,245,282 shares of the company’s stock were exchanged, compared to its average volume of 5,633,212. The company has a 50 day simple moving average of $192.48 and a 200-day simple moving average of $173.23. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $215.24. The firm has a market capitalization of $74.88 billion, a P/E ratio of 660.19 and a beta of 1.70.

Insider Buying and Selling at DoorDash

In related news, COO Prabir Adarkar sold 20,000 shares of DoorDash stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $185.58, for a total value of $3,711,600.00. Following the completion of the sale, the chief operating officer now owns 887,348 shares in the company, valued at approximately $164,674,041.84. This trade represents a 2.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ravi Inukonda sold 15,198 shares of DoorDash stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $204.11, for a total value of $3,102,063.78. Following the completion of the transaction, the chief financial officer now directly owns 351,970 shares of the company’s stock, valued at approximately $71,840,596.70. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 213,113 shares of company stock worth $38,998,374 over the last quarter. 7.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DASH. Vanguard Group Inc. raised its holdings in DoorDash by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock worth $5,254,501,000 after purchasing an additional 317,502 shares in the last quarter. Capital World Investors lifted its position in DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock valued at $2,038,712,000 after acquiring an additional 2,538,160 shares during the last quarter. State Street Corp boosted its stake in DoorDash by 3.8% in the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after acquiring an additional 272,659 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock worth $796,781,000 after purchasing an additional 949,414 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of DoorDash by 67.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock valued at $780,858,000 after purchasing an additional 1,869,866 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.