Q2 2024 EPS Estimates for DoorDash, Inc. Raised by Analyst (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) – Investment analysts at Seaport Res Ptn increased their Q2 2024 earnings estimates for DoorDash in a report issued on Wednesday, May 1st. Seaport Res Ptn analyst A. Kessler now expects that the company will earn ($0.15) per share for the quarter, up from their prior estimate 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 posted 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 company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period last year, the firm earned ($0.41) earnings per share. DoorDash’s quarterly revenue was up 23.5% on a year-over-year basis.

DASH has been the topic of several other research reports. Moffett Nathanson upgraded DoorDash from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $118.00 to $164.00 in a research report on Thursday, April 11th. UBS Group reduced their price target on shares of DoorDash from $123.00 to $118.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Wells Fargo & Company lifted their price objective on DoorDash from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Loop Capital began coverage on shares of DoorDash in a research note on Friday, April 19th. They issued a “buy” rating and a $170.00 target price for the company. Finally, Piper Sandler raised shares of DoorDash from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $53.00 to $127.00 in a research report on Friday, March 15th. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $129.96.

DoorDash Stock Performance

DoorDash stock opened at $115.56 on Monday. The stock has a 50-day simple moving average of $131.81 and a 200-day simple moving average of $110.94. DoorDash has a fifty-two week low of $62.83 and a fifty-two week high of $143.34. The company has a market capitalization of $46.69 billion, a P/E ratio of -107.00, a PEG ratio of 15.89 and a beta of 1.78.

Hedge Funds Weigh In On DoorDash

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Versor Investments LP bought a new stake in shares of DoorDash in the 3rd quarter valued at about $556,000. Assenagon Asset Management S.A. increased its position in 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 worth $110,082,000 after buying an additional 1,052,198 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in DoorDash in the fourth quarter valued at approximately $769,000. Angeles Investment Advisors LLC acquired a new stake in shares of DoorDash in the third quarter valued at approximately $336,000. Finally, Bank of Nova Scotia lifted its position in shares of DoorDash by 685.9% in the third quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock valued at $3,715,000 after buying an additional 40,802 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other DoorDash news, Director Shona L. Brown sold 700 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $141.60, for a total value 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Shona L. Brown sold 700 shares of DoorDash 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 transaction, the director now owns 70,111 shares in the company, valued at approximately $9,927,717.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Gordon S. Lee sold 1,000 shares of DoorDash 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 $124,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 92,207 shares in the company, valued at approximately $11,479,771.50. The disclosure for this sale can be found here. In the last three months, insiders sold 487,082 shares of company stock valued at $63,970,010. 9.59% of the stock is currently 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.