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

Key Points

• Wells Fargo & Company has raised its price target for DoorDash from $239 to $280, indicating a potential upside of 4.33% from the current stock price.
• DoorDash recently reported earnings of $0.65 per share, exceeding analysts' expectations, with a revenue of $3.28 billion, which represents a 24.9% year-over-year increase.
• Overall, DoorDash has received mixed ratings, with 24 analysts giving a "buy" rating, while maintaining an average rating of "Moderate Buy."

DoorDash (NASDAQ:DASH - Get Free Report) had its price objective boosted by stock analysts at Wells Fargo & Company from $239.00 to $280.00 in a report released on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 4.33% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Loop Capital reissued a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. Benchmark boosted their target price on DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a research report on Thursday. Wall Street Zen upgraded shares of DoorDash from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Piper Sandler boosted their price objective on shares of DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, BTIG Research lifted their price target on shares of DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, DoorDash currently has an average rating of "Moderate Buy" and an average target price of $253.59.

DoorDash Stock Performance

NASDAQ DASH traded up $10.30 on Thursday, reaching $268.38. The company's stock had a trading volume of 5,070,245 shares, compared to its average volume of 4,750,376. DoorDash has a twelve month low of $121.18 and a twelve month high of $278.15. The stock has a market cap of $113.72 billion, a PE ratio of 347.36 and a beta of 1.70. The firm's 50 day moving average is $233.72 and its two-hundred day moving average is $205.22.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.23. The business had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The firm's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.38) earnings per share. Equities research analysts anticipate that DoorDash will post 2.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following the transaction, the director directly owned 26,070 shares of the company's stock, valued at approximately $6,442,157.70. This trade represents a 63.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Shona L. Brown sold 825 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $250.00, for a total value of $206,250.00. Following the completion of the sale, the director owned 43,477 shares in the company, valued at $10,869,250. The trade was a 1.86% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 583,537 shares of company stock worth $133,720,004. Company insiders own 5.83% of the company's stock.

Hedge Funds Weigh In On DoorDash

Several large investors have recently made changes to their positions in DASH. Gilbert & Cook Inc. increased its holdings in DoorDash by 2.6% during the 2nd quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company's stock valued at $415,000 after acquiring an additional 42 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of DoorDash by 1.3% during the second quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company's stock worth $912,000 after purchasing an additional 46 shares during the period. GeoWealth Management LLC grew its position in DoorDash by 3.7% in the 4th quarter. GeoWealth Management LLC now owns 1,428 shares of the company's stock worth $240,000 after purchasing an additional 51 shares during the last quarter. Yeomans Consulting Group Inc. lifted its holdings in DoorDash by 3.9% in the 2nd quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company's stock valued at $326,000 after acquiring an additional 51 shares during the last quarter. Finally, Palo Alto Wealth Advisors LLC increased its stake in DoorDash by 0.4% in the 1st quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company's stock worth $2,385,000 after purchasing an additional 54 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.

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