Zacks Research Has Positive View of DoorDash FY2024 Earnings

DoorDash, Inc. (NASDAQ:DASH) – Analysts at Zacks Research lifted their FY2024 earnings estimates for shares of DoorDash in a report released on Tuesday, November 19th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $0.23 for the year, up from their prior forecast of ($0.11). The consensus estimate for DoorDash’s current full-year earnings is $0.26 per share. Zacks Research also issued estimates for DoorDash’s Q4 2024 earnings at $0.29 EPS, Q1 2025 earnings at $0.19 EPS, Q2 2025 earnings at $0.32 EPS, Q3 2025 earnings at $0.41 EPS, Q4 2025 earnings at $0.35 EPS, FY2025 earnings at $1.27 EPS, Q2 2026 earnings at $0.43 EPS, Q3 2026 earnings at $0.62 EPS and FY2026 earnings at $2.41 EPS.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm’s revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.19) earnings per share.

A number of other brokerages have also recently commented on DASH. Oppenheimer boosted their price objective on DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Wedbush reissued a “neutral” rating and set a $115.00 price target on shares of DoorDash in a research report on Friday, August 2nd. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price objective on shares of DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, DA Davidson boosted their target price on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $164.03.

DoorDash Stock Up 2.4 %

DASH opened at $177.24 on Friday. DoorDash has a 52-week low of $92.56 and a 52-week high of $178.16. The company has a 50 day moving average of $153.61 and a two-hundred day moving average of $128.96. The company has a market cap of $73.62 billion, a P/E ratio of -393.87, a P/E/G ratio of 13.31 and a beta of 1.67.

Institutional Trading of DoorDash

Several institutional investors have recently bought and sold shares of the stock. Rakuten Securities Inc. increased its position in shares of DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of DoorDash in the second quarter valued at approximately $32,000. Versant Capital Management Inc boosted its holdings in shares of DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Activity at DoorDash

In other news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $127.86, for a total value of $895,020.00. Following the completion of the transaction, the chief financial officer now owns 396,152 shares in the company, valued at approximately $50,651,994.72. This represents a 1.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now owns 18,089 shares in the company, valued at approximately $2,355,187.80. This trade represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 547,753 shares of company stock worth $84,544,996 over the last three months. Company insiders own 7.92% 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.