Wells Fargo & Company Issues Pessimistic Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH - Get Free Report) had its price target cut by equities research analysts at Wells Fargo & Company from $201.00 to $198.00 in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would indicate a potential upside of 7.87% from the stock's current price.

Several other brokerages have also recently weighed in on DASH. The Goldman Sachs Group upped their target price on DoorDash from $192.00 to $212.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Mizuho increased their target price on shares of DoorDash from $200.00 to $222.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. reduced their price target on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Bank of America lowered their price target on shares of DoorDash from $245.00 to $235.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, UBS Group lifted their price objective on shares of DoorDash from $200.00 to $204.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $209.97.

DoorDash Stock Up 0.3 %

DASH stock traded up $0.60 during trading on Wednesday, hitting $183.56. The company had a trading volume of 3,422,208 shares, compared to its average volume of 4,179,111. DoorDash has a 52-week low of $99.32 and a 52-week high of $215.25. The company has a 50 day simple moving average of $184.61 and a 200-day simple moving average of $180.63. The firm has a market capitalization of $77.11 billion, a P/E ratio of 679.85 and a beta of 1.68.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The company's revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. Sell-side analysts forecast that DoorDash will post 2.22 earnings per share for the current year.

Insider Activity at DoorDash

In other news, General Counsel Tia Sherringham sold 12,088 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $2,459,303.60. Following the sale, the general counsel now directly owns 122,135 shares of the company's stock, valued at $24,848,365.75. This represents a 9.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 15,198 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $204.11, for a total transaction of $3,102,063.78. Following 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 trade represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 158,573 shares of company stock worth $30,407,073 over the last quarter. Insiders own 7.92% of the company's stock.

Institutional Trading of DoorDash

Hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its stake in shares of DoorDash by 25.0% during the 3rd quarter. Principal Financial Group Inc. now owns 90,786 shares of the company's stock worth $12,958,000 after acquiring an additional 18,155 shares in the last quarter. GAMMA Investing LLC raised its position in shares of DoorDash by 19.9% during the 4th quarter. GAMMA Investing LLC now owns 1,128 shares of the company's stock worth $189,000 after purchasing an additional 187 shares during the last quarter. Diversified Trust Co boosted its holdings in DoorDash by 34.0% in the 4th quarter. Diversified Trust Co now owns 11,749 shares of the company's stock worth $1,971,000 after buying an additional 2,978 shares during the last quarter. Fulton Bank N.A. boosted its stake in shares of DoorDash by 6.3% in the fourth quarter. Fulton Bank N.A. now owns 3,197 shares of the company's stock worth $536,000 after acquiring an additional 190 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in DoorDash by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company's stock worth $1,970,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors 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.