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

DoorDash (NASDAQ:DASH) had its price objective decreased by research analysts at Wells Fargo & Company from $221.00 to $198.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 31.87% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Argus reduced their price target on shares of DoorDash from $275.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. Sanford C. Bernstein dropped their price objective on shares of DoorDash from $285.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Jefferies Financial Group boosted their target price on shares of DoorDash from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Mizuho dropped their price target on DoorDash from $320.00 to $255.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Finally, The Goldman Sachs Group set a $267.00 price objective on DoorDash in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.12.

DoorDash Price Performance

NASDAQ:DASH opened at $150.15 on Monday. The business’s 50-day moving average is $176.39 and its 200 day moving average is $214.62. DoorDash has a 12 month low of $143.30 and a 12 month high of $285.50. The company has a market capitalization of $65.23 billion, a P/E ratio of 70.83 and a beta of 1.82. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.10). The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.98 billion. DoorDash had a net margin of 6.82% and a return on equity of 10.15%. The business’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS. On average, equities research analysts forecast that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Tony Xu sold 16,667 shares of DoorDash stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $230.00, for a total value of $3,833,410.00. Following the completion of the sale, the chief executive officer directly owned 1,500 shares in the company, valued at $345,000. The trade was a 91.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Prabir Adarkar sold 10,000 shares of the company’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $158.97, for a total transaction of $1,589,700.00. Following the completion of the sale, the chief operating officer directly owned 843,678 shares of the company’s stock, valued at approximately $134,119,491.66. This trade represents a 1.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 167,317 shares of company stock worth $35,720,931. 5.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On DoorDash

Large investors have recently modified their holdings of the business. Resonant Capital Advisors LLC increased its holdings in DoorDash by 3.5% during the third quarter. Resonant Capital Advisors LLC now owns 1,229 shares of the company’s stock valued at $334,000 after buying an additional 42 shares during the period. Premier Path Wealth Partners LLC lifted its holdings in DoorDash by 1.9% during the third quarter. Premier Path Wealth Partners LLC now owns 2,414 shares of the company’s stock worth $657,000 after buying an additional 45 shares during the period. Quotient Wealth Partners LLC lifted its holdings in DoorDash by 3.2% during the third quarter. Quotient Wealth Partners LLC now owns 1,537 shares of the company’s stock worth $418,000 after buying an additional 48 shares during the period. Hobart Private Capital LLC boosted its position in DoorDash by 2.4% during the 3rd quarter. Hobart Private Capital LLC now owns 2,164 shares of the company’s stock valued at $589,000 after acquiring an additional 50 shares in the last quarter. Finally, SageView Advisory Group LLC boosted its position in DoorDash by 3.6% during the 2nd quarter. SageView Advisory Group LLC now owns 1,486 shares of the company’s stock valued at $366,000 after acquiring an additional 51 shares in the last quarter. Institutional investors 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.