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

DoorDash, Inc. (NASDAQ:DASH) – Wedbush dropped their Q2 2024 earnings estimates for shares of DoorDash in a report released on Wednesday, May 1st. Wedbush analyst S. Devitt now expects that the company will post earnings per share of ($0.11) for the quarter, down from their prior estimate of ($0.07). Wedbush has a “Neutral” rating and a $115.00 price target on the stock. The consensus estimate for DoorDash’s current full-year earnings is $0.17 per share. Wedbush also issued estimates for DoorDash’s Q4 2024 earnings at $0.06 EPS and FY2025 earnings at $1.05 EPS.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the prior year, the firm earned ($0.41) EPS. The company’s revenue was up 23.5% compared to the same quarter last year.

A number of other research analysts have also issued reports on DASH. JPMorgan Chase & Co. raised their target price on shares of DoorDash from $108.00 to $111.00 and gave the company a “neutral” rating in a research note on Thursday. Piper Sandler upgraded shares of DoorDash from an “underweight” rating to a “neutral” rating and raised their target price for the company from $53.00 to $127.00 in a research note on Friday, March 15th. Royal Bank of Canada lowered their target price on shares of DoorDash from $175.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday. Truist Financial lowered their target price on shares of DoorDash from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $137.00 target price on shares of DoorDash in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $129.96.

DoorDash Trading Down 0.4 %

DoorDash stock opened at $113.81 on Monday. The company has a market capitalization of $45.98 billion, a P/E ratio of -105.38, a P/E/G ratio of 13.07 and a beta of 1.78. The firm’s fifty day simple moving average is $131.86 and its 200-day simple moving average is $110.63. DoorDash has a 1-year low of $60.36 and a 1-year high of $143.34.

Hedge Funds Weigh In On DoorDash

Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of DoorDash during the fourth quarter valued at approximately $264,806,000. Vanguard Group Inc. grew its holdings in shares of DoorDash by 8.4% during 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. grew its holdings in shares of DoorDash by 294.5% during the fourth 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 last quarter. Assenagon Asset Management S.A. grew its holdings 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 buying an additional 1,052,198 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of DoorDash by 40,319.6% during the fourth 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 last quarter. 90.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In other DoorDash news, Director Shona L. Brown sold 700 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total transaction of $76,797.00. Following the completion of the sale, the director now directly owns 71,514 shares in the company, valued at $7,845,800.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other DoorDash news, Director Shona L. Brown sold 700 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total transaction of $76,797.00. Following the completion of the sale, the director now directly owns 71,514 shares in the company, valued at $7,845,800.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Tia Sherringham sold 1,880 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $120.15, for a total transaction of $225,882.00. Following the transaction, the general counsel now directly owns 217,260 shares of the company’s stock, valued at $26,103,789. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 487,782 shares of company stock worth $64,046,807. Corporate insiders own 9.59% 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.