DoorDash, Inc. Forecasted to Earn Q3 2024 Earnings of $0.05 Per Share (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) – William Blair lifted their Q3 2024 EPS estimates for DoorDash in a research report issued on Wednesday, May 1st. William Blair analyst R. Schackart now anticipates that the company will earn $0.05 per share for the quarter, up from their previous forecast of ($0.13). The consensus estimate for DoorDash’s current full-year earnings is $0.17 per share. William Blair also issued estimates for DoorDash’s Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($0.23) EPS, Q1 2025 earnings at ($0.10) EPS, Q2 2025 earnings at ($0.13) EPS, Q3 2025 earnings at ($0.02) EPS, Q4 2025 earnings at $0.03 EPS and FY2025 earnings at ($0.21) EPS.

A number of other equities analysts have also weighed in on DASH. Roth Mkm reduced their price objective on DoorDash from $121.00 to $118.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Benchmark decreased their price target on DoorDash from $165.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Loop Capital initiated coverage on shares of DoorDash in a research note on Friday, April 19th. They set a “buy” rating and a $170.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of DoorDash from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Piper Sandler upgraded shares of DoorDash from an “underweight” rating to a “neutral” rating and raised their price target for the company from $53.00 to $127.00 in a research report on Friday, March 15th. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.96.

DoorDash Stock Down 1.7 %

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

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the prior year, the business posted ($0.41) EPS. DoorDash’s revenue for the quarter was up 23.5% compared to the same quarter last year.

Insiders Place Their Bets

In other DoorDash news, Director Shona L. Brown sold 700 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $141.60, for a total transaction of $99,120.00. Following the transaction, the director now owns 70,111 shares of the company’s stock, valued at $9,927,717.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other DoorDash news, Director Shona L. Brown sold 700 shares of DoorDash stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $141.60, for a total transaction of $99,120.00. Following the transaction, the director now directly owns 70,111 shares of the company’s stock, valued at $9,927,717.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Keith Yandell sold 3,500 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $124.50, for a total transaction of $435,750.00. Following the completion of the sale, the insider now directly owns 161,102 shares of the company’s stock, valued at approximately $20,057,199. The disclosure for this sale can be found here. Insiders have sold 487,082 shares of company stock valued at $63,970,010 in the last ninety days. 9.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of DoorDash during the 4th quarter worth $264,806,000. Vanguard Group Inc. lifted its position in DoorDash by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after buying an additional 2,259,976 shares during the last quarter. Franklin Resources Inc. boosted its stake in DoorDash by 294.5% during the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock worth $158,993,000 after buying an additional 1,200,181 shares during the period. Assenagon Asset Management S.A. increased its position in shares of DoorDash by 1,725.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after acquiring an additional 1,052,198 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of DoorDash by 40,319.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,039,592 shares of the company’s stock valued at $102,805,000 after acquiring an additional 1,037,020 shares during the period. Institutional investors and hedge funds own 90.64% 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.