DoorDash (NASDAQ:DASH) Price Target Raised to $198.00 at Wells Fargo & Company

DoorDash (NASDAQ:DASH) had its price objective increased by equities research analysts at Wells Fargo & Company from $166.00 to $198.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential downside of 0.73% from the company’s current price.

A number of other research analysts also recently weighed in on DASH. DA Davidson raised their price target on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Argus upgraded DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Truist Financial lifted their target price on DoorDash from $180.00 to $217.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. UBS Group lifted their target price on DoorDash from $182.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Susquehanna lifted their target price on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Nine investment 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, the company presently has an average rating of “Moderate Buy” and an average price target of $192.48.

DoorDash Price Performance

DASH stock traded up $6.37 during mid-day trading on Wednesday, reaching $199.46. The company had a trading volume of 3,798,604 shares, compared to its average volume of 2,818,003. The stock has a 50 day simple moving average of $177.52 and a two-hundred day simple moving average of $156.06. The company has a market capitalization of $82.86 billion, a price-to-earnings ratio of -443.24, a PEG ratio of 2.04 and a beta of 1.72. DoorDash has a 52 week low of $99.32 and a 52 week high of $200.60.

Insider Transactions at DoorDash

In other news, COO Prabir Adarkar sold 20,000 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $180.83, for a total transaction of $3,616,600.00. Following the completion of the transaction, the chief operating officer now owns 925,222 shares of the company’s stock, valued at approximately $167,307,894.26. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $183.20, for a total value of $261,060.00. Following the transaction, the chief financial officer now directly owns 366,993 shares of the company’s stock, valued at $67,233,117.60. This trade represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,040,758 shares of company stock valued at $181,434,201. Corporate insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in DoorDash during the 4th quarter worth $597,443,000. Baillie Gifford & Co. grew its position in DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after acquiring an additional 1,645,186 shares during the last quarter. Raymond James Financial Inc. bought a new stake in DoorDash during the 4th quarter worth $146,094,000. Allspring Global Investments Holdings LLC grew its position in DoorDash by 216.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after acquiring an additional 739,961 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in DoorDash by 14.5% during the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after acquiring an additional 700,465 shares during the last quarter. Institutional investors and hedge funds 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.