Wells Fargo & Company Has Lowered Expectations for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price target cut by analysts at Wells Fargo & Company from $221.00 to $198.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 32.48% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. Guggenheim lowered their price target on DoorDash from $275.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. BNP Paribas Exane assumed coverage on DoorDash in a report on Wednesday, January 14th. They set an “outperform” rating and a $280.00 target price for the company. The Goldman Sachs Group set a $267.00 price target on shares of DoorDash in a report on Monday, February 2nd. Citigroup decreased their price objective on shares of DoorDash from $283.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Finally, Barclays cut their target price on shares of DoorDash from $238.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and a consensus price target of $263.12.

DoorDash Trading Up 1.9%

Shares of DoorDash stock traded up $2.85 during mid-day trading on Monday, hitting $149.45. 1,796,926 shares of the stock were exchanged, compared to its average volume of 5,019,466. DoorDash has a twelve month low of $143.30 and a twelve month high of $285.50. The stock has a market capitalization of $64.93 billion, a price-to-earnings ratio of 70.31 and a beta of 1.82. The company has a 50-day simple moving average of $178.64 and a 200 day simple moving average of $216.17. 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 issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). DoorDash had a return on equity of 10.15% and a net margin of 6.82%.The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.98 billion. During the same period in the previous year, the business posted $0.33 earnings per share. The firm’s quarterly revenue was up 37.7% on a year-over-year basis. Research analysts forecast that DoorDash will post 2.22 EPS for the current year.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 16,667 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $230.00, for a total value of $3,833,410.00. Following the completion of the transaction, the chief executive officer directly owned 1,500 shares in the company, valued at approximately $345,000. This represents a 91.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $209.01, for a total transaction of $9,491,144.10. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 167,317 shares of company stock valued at $35,720,931. 5.83% of the stock is owned by company insiders.

Institutional Trading of DoorDash

Hedge funds and other institutional investors have recently modified their holdings of the business. Resonant Capital Advisors LLC boosted its holdings in DoorDash by 3.5% in the third quarter. Resonant Capital Advisors LLC now owns 1,229 shares of the company’s stock worth $334,000 after purchasing an additional 42 shares during the period. Premier Path Wealth Partners LLC raised its holdings in shares of 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 purchasing an additional 45 shares during the period. Quotient Wealth Partners LLC lifted its position in shares of DoorDash by 3.2% in the 3rd 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 last quarter. Hobart Private Capital LLC boosted its holdings in shares of DoorDash by 2.4% in the 3rd quarter. Hobart Private Capital LLC now owns 2,164 shares of the company’s stock valued at $589,000 after buying an additional 50 shares during the period. Finally, SageView Advisory Group LLC boosted its holdings in shares of DoorDash by 3.6% in the 2nd quarter. SageView Advisory Group LLC now owns 1,486 shares of the company’s stock valued at $366,000 after buying an additional 51 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.