Seaport Res Ptn Equities Analysts Boost Earnings Estimates for DoorDash, Inc. (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) – Seaport Res Ptn increased their Q2 2024 EPS estimates for shares of DoorDash in a report released on Wednesday, May 1st. Seaport Res Ptn analyst A. Kessler now forecasts that the company will post earnings per share of ($0.15) for the quarter, up from their previous forecast 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 issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.45 billion. During the same quarter last year, the company posted ($0.41) EPS. The firm’s revenue was up 23.5% compared to the same quarter last year.

Several other equities analysts have also recently commented on DASH. Piper Sandler raised shares of DoorDash from an “underweight” rating to a “neutral” rating and raised their price target for the company from $53.00 to $127.00 in a research report on Friday, March 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of DoorDash from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Mizuho raised their price objective on shares of DoorDash from $140.00 to $152.00 and gave the company a “buy” rating in a report on Friday, February 16th. JMP Securities reduced their price objective on shares of DoorDash from $160.00 to $140.00 and set a “market outperform” rating on the stock in a report on Thursday, May 2nd. Finally, Oppenheimer raised their price objective on shares of DoorDash from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.96.

DoorDash Stock Up 3.3 %

Shares of DASH stock opened at $117.59 on Monday. DoorDash has a 52 week low of $62.83 and a 52 week high of $143.34. The stock has a market capitalization of $47.51 billion, a PE ratio of -108.21, a P/E/G ratio of 15.89 and a beta of 1.78. The firm has a 50 day moving average of $131.86 and a two-hundred day moving average of $110.63.

Insider Buying and Selling at DoorDash

In other news, CAO Gordon S. Lee sold 1,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was 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 of the company’s stock, valued at approximately $11,479,771.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other DoorDash news, CAO Gordon S. Lee sold 1,000 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 92,207 shares in the company, valued at approximately $11,479,771.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Tia Sherringham sold 1,880 shares of the 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 completion of the transaction, the general counsel now owns 217,260 shares of the company’s stock, valued at approximately $26,103,789. The disclosure for this sale can be found here. In the last three months, insiders have sold 487,082 shares of company stock valued at $63,970,010. 9.59% of the stock is owned by company insiders.

Institutional Investors Weigh In On DoorDash

Hedge funds and other institutional investors have recently modified their holdings of the stock. Versor Investments LP purchased a new position in DoorDash in the 3rd quarter valued at approximately $556,000. Assenagon Asset Management S.A. increased its position in shares of DoorDash by 1,725.6% in 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 in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of DoorDash during the 4th quarter worth $769,000. Angeles Investment Advisors LLC purchased a new stake in shares of DoorDash in the 3rd quarter worth about $336,000. Finally, Bank of Nova Scotia boosted its position in shares of DoorDash by 685.9% in the 3rd quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock worth $3,715,000 after buying an additional 40,802 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.