Research Analysts Issue Forecasts for DoorDash, Inc.’s Q3 2024 Earnings (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) – Research analysts at William Blair increased their Q3 2024 earnings per share estimates for shares of DoorDash in a research note issued on Wednesday, May 1st. William Blair analyst R. Schackart now expects that the company will post earnings per share of $0.05 for the quarter, up from their prior estimate 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.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $2.51 billion during 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 quarter in the previous year, the business earned ($0.41) EPS.

A number of other analysts have also recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $137.00 price target on shares of DoorDash in a research report on Thursday, May 2nd. Morgan Stanley upgraded shares of DoorDash from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $135.00 to $145.00 in a research report on Thursday, February 22nd. Wells Fargo & Company raised their price objective on shares of DoorDash from $100.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Oppenheimer boosted their target price on DoorDash from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Finally, Roth Mkm cut their price objective on DoorDash from $121.00 to $118.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.96.

DoorDash Stock Performance

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

Institutional Trading of DoorDash

Several hedge funds have recently bought and sold shares of the stock. Williams Jones Wealth Management LLC. bought a new stake in shares of DoorDash during the first quarter worth $207,000. Donoghue Forlines LLC acquired a new position in DoorDash in the 1st quarter worth $2,297,000. Meeder Advisory Services Inc. increased its holdings in DoorDash by 4.4% during the 1st quarter. Meeder Advisory Services Inc. now owns 3,006 shares of the company’s stock worth $414,000 after purchasing an additional 126 shares in the last quarter. Sei Investments Co. raised its stake in shares of DoorDash by 51.9% in the 1st quarter. Sei Investments Co. now owns 245,742 shares of the company’s stock valued at $33,843,000 after purchasing an additional 83,958 shares during the period. Finally, Atomi Financial Group Inc. lifted its holdings in shares of DoorDash by 39.4% in the first quarter. Atomi Financial Group Inc. now owns 10,338 shares of the company’s stock valued at $1,424,000 after purchasing an additional 2,924 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 132,300 shares of DoorDash 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Shona L. Brown sold 700 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $141.60, for a total transaction of $99,120.00. Following the sale, the director now owns 70,111 shares of the company’s stock, valued at $9,927,717.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $131.96, for a total value of $17,458,308.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 487,082 shares of company stock worth $63,970,010. 9.59% of the stock is owned by insiders.

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.