Wedbush Weighs in on DoorDash, Inc.’s Q3 2024 Earnings (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) – Equities researchers at Wedbush increased their Q3 2024 earnings per share (EPS) estimates for DoorDash in a research report issued on Wednesday, May 1st. Wedbush analyst S. Devitt now anticipates that the company will post earnings per share of $0.04 for the quarter, up from their prior forecast of $0.03. Wedbush currently has a “Neutral” rating and a $115.00 target price on the stock. The consensus estimate for DoorDash’s current full-year earnings is $0.21 per share.

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

A number of other brokerages have also recently weighed in on DASH. Loop Capital started coverage on DoorDash in a research report on Friday, April 19th. They issued a “buy” rating and a $170.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price objective on DoorDash from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Royal Bank of Canada decreased their price objective on DoorDash from $175.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday. UBS Group decreased their price objective on DoorDash from $123.00 to $118.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Finally, JMP Securities decreased their price objective on DoorDash from $160.00 to $140.00 and set a “market outperform” rating on the stock in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $129.96.

DoorDash Stock Down 0.4 %

Shares of DASH stock opened at $113.81 on Friday. DoorDash has a fifty-two week low of $60.36 and a fifty-two week high of $143.34. The stock has a market cap of $45.98 billion, a P/E ratio of -105.38, a P/E/G ratio of 13.13 and a beta of 1.78. The business has a fifty day simple moving average of $131.86 and a 200-day simple moving average of $110.13.

Hedge Funds Weigh In On DoorDash

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of DoorDash during the 4th quarter valued at about $264,806,000. Vanguard Group Inc. raised its holdings 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 valued at $2,897,823,000 after buying an additional 2,259,976 shares during the period. Franklin Resources Inc. raised its holdings in shares of DoorDash by 294.5% during the 4th quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock valued at $158,993,000 after buying an additional 1,200,181 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of DoorDash by 1,725.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after buying an additional 1,052,198 shares during the period. Finally, Los Angeles Capital Management LLC raised its holdings in shares of DoorDash by 40,319.6% during 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 buying an additional 1,037,020 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Keith Yandell sold 3,500 shares of DoorDash stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $124.50, for a total value of $435,750.00. Following the transaction, the insider now directly owns 161,102 shares of the company’s stock, valued at approximately $20,057,199. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Keith Yandell sold 3,500 shares of DoorDash stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $124.50, for a total value of $435,750.00. Following the transaction, the insider now directly owns 161,102 shares of the company’s stock, valued at approximately $20,057,199. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shona L. Brown sold 700 shares of DoorDash stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total value of $76,797.00. Following the completion of the transaction, the director now directly owns 71,514 shares in the company, valued at $7,845,800.94. The disclosure for this sale can be found here. Insiders have sold 487,782 shares of company stock valued at $64,046,807 in the last three months. Corporate insiders own 9.59% 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.