DoorDash, Inc. (NASDAQ:DASH) Forecasted to Post Q2 2024 Earnings of ($0.15) Per Share

DoorDash, Inc. (NASDAQ:DASH) – Research analysts at Seaport Res Ptn raised their Q2 2024 EPS estimates for shares of DoorDash in a research report issued on Wednesday, May 1st. Seaport Res Ptn analyst A. Kessler now expects that the company will post earnings per share of ($0.15) for the quarter, up from their prior forecast of ($0.17). The consensus estimate for DoorDash’s current full-year earnings is $0.17 per share. Seaport Res Ptn also issued estimates for DoorDash’s Q3 2024 earnings at ($0.05) EPS, Q4 2024 earnings at $0.07 EPS and FY2024 earnings at ($0.19) EPS.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.45 billion. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The business’s revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.41) EPS.

A number of other research firms have also weighed in on DASH. Mizuho boosted their price objective on shares of DoorDash from $140.00 to $152.00 and gave the company a “buy” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. raised their price target on shares of DoorDash from $108.00 to $111.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Oppenheimer boosted their price objective on DoorDash from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Wedbush restated a “neutral” rating and issued a $115.00 target price on shares of DoorDash in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada lowered their price objective on DoorDash from $175.00 to $165.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $129.96.

DoorDash Stock Down 1.7 %

DoorDash stock opened at $115.56 on Monday. DoorDash has a 52 week low of $62.83 and a 52 week high of $143.34. The firm’s 50-day simple moving average is $131.81 and its 200 day simple moving average is $110.94. The firm has a market capitalization of $46.69 billion, a PE ratio of -107.00, a P/E/G ratio of 15.89 and a beta of 1.78.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of DoorDash by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after buying an additional 2,259,976 shares during the period. Baillie Gifford & Co. boosted its holdings in DoorDash by 6.4% during the fourth quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock worth $1,263,381,000 after purchasing an additional 772,977 shares during the last quarter. Capital World Investors boosted its stake in shares of DoorDash by 0.6% in the 4th quarter. Capital World Investors now owns 9,395,743 shares of the company’s stock worth $929,145,000 after buying an additional 60,033 shares during the last quarter. First Trust Advisors LP grew its stake in DoorDash by 45.6% in the 4th quarter. First Trust Advisors LP now owns 3,079,083 shares of the company’s stock valued at $304,490,000 after purchasing an additional 964,860 shares during the period. Finally, Norges Bank purchased a new stake in DoorDash during the fourth quarter worth about $264,806,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total transaction of $17,458,308.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Tony Xu sold 132,300 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $131.96, for a total value of $17,458,308.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Tia Sherringham sold 1,880 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $120.15, for a total transaction of $225,882.00. Following the sale, the general counsel now owns 217,260 shares in the company, valued at $26,103,789. The disclosure for this sale can be found here. Insiders have sold 487,082 shares of company stock worth $63,970,010 over the last 90 days. Company insiders own 9.59% of the company’s stock.

About DoorDash

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.