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

Key Points

• Wells Fargo cut its price target on DoorDash from $200 to $199 while keeping an equal weight rating. The new target implies about 3.64% upside from the stock’s current price.
• Other analysts remain mixed on DASH, with ratings ranging from buy to hold; MarketBeat says the stock’s consensus view is Moderate Buy with an average target price of $256.08.
• DoorDash recently reported EPS of $0.42, beating estimates, while revenue came in at $4.04 billion, slightly below expectations. Revenue still rose 33.1% year over year, and analysts expect $2.41 EPS for the full year.

DoorDash (NASDAQ:DASH - Get Free Report) had its price target dropped by analysts at Wells Fargo & Company from $200.00 to $199.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would indicate a potential upside of 3.64% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. Guggenheim reissued a "buy" rating and set a $255.00 price objective on shares of DoorDash in a research report on Tuesday, June 23rd. Stifel Nicolaus lowered 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. DA Davidson dropped their price target on DoorDash from $224.00 to $200.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. Rothschild & Co Redburn set a $350.00 price target on DoorDash in a report on Tuesday, May 12th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $265.00 price objective on shares of DoorDash in a research report on Thursday, May 7th. 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $256.08.

DoorDash Stock Performance

NASDAQ DASH opened at $192.01 on Monday. DoorDash has a one year low of $143.30 and a one year high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market cap of $83.66 billion, a P/E ratio of 91.43 and a beta of 1.78. The stock's 50-day moving average is $165.99 and its 200-day moving average is $180.23.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.DoorDash's quarterly revenue was up 33.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. Sell-side analysts anticipate that DoorDash will post 2.41 earnings per share for the current fiscal year.

Insider Activity

In other DoorDash news, General Counsel Tia Sherringham sold 2,743 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total value of $441,046.97. Following the completion of the transaction, the general counsel directly owned 128,216 shares in the company, valued at $20,615,850.64. This trade represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, COO Prabir Adarkar sold 21,739 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the sale, the chief operating officer owned 959,076 shares in the company, valued at approximately $148,896,549. This represents a 2.22% 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 ninety days, insiders sold 42,707 shares of company stock valued at $7,113,039. Corporate insiders own 5.83% of the company's stock.

Institutional Trading of DoorDash

A number of large investors have recently added to or reduced their stakes in DASH. Norges Bank bought a new position in DoorDash during the fourth quarter worth about $1,093,650,000. Wellington Management Group LLP lifted its position in shares of DoorDash by 593.1% in the fourth quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company's stock valued at $1,241,494,000 after buying an additional 4,690,744 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of DoorDash by 32.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company's stock worth $3,161,234,000 after acquiring an additional 3,447,754 shares during the period. Janus Henderson Group PLC boosted its stake in shares of DoorDash by 40.2% during the 1st quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company's stock worth $1,159,377,000 after acquiring an additional 2,225,954 shares during the period. Finally, Coatue Management LLC increased its holdings in shares of DoorDash by 77.8% during the 4th quarter. Coatue Management LLC now owns 4,365,365 shares of the company's stock worth $988,668,000 after acquiring an additional 1,910,488 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

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.

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