Wedbush Weighs in on DoorDash, Inc.’s Q3 2024 Earnings (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) – Wedbush upped their Q3 2024 earnings estimates for DoorDash in a note issued to investors on Wednesday, May 1st. Wedbush analyst S. Devitt now forecasts that the company will earn $0.04 per share for the quarter, up from their prior estimate of $0.03. Wedbush currently has a “Neutral” rating and a $115.00 target price on the stock. The consensus estimate for DoorDash’s current full-year earnings is $0.21 per share.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data 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. 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 analyst estimates of $2.45 billion. During the same period in the prior year, the firm earned ($0.41) earnings per share. The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year.

Several other analysts have also commented on DASH. Roth Mkm decreased their price target on shares of DoorDash from $121.00 to $118.00 and set a “neutral” rating for the company in a research report on Thursday. Susquehanna increased their price target on shares of DoorDash from $110.00 to $135.00 and gave the company a “positive” rating in a research report on Tuesday, February 20th. Needham & Company LLC reissued a “buy” rating and set a $137.00 price target on shares of DoorDash in a research report on Thursday. JPMorgan Chase & Co. increased their price target on shares of DoorDash from $108.00 to $111.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Moffett Nathanson raised shares of DoorDash from a “neutral” rating to a “buy” rating and increased their price target for the company from $118.00 to $164.00 in a research report on Thursday, April 11th. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.96.

DoorDash Price Performance

NASDAQ:DASH opened at $113.81 on Friday. DoorDash has a 1-year low of $60.36 and a 1-year high of $143.34. The company has a 50-day moving average of $131.86 and a 200 day moving average of $110.13. The firm has a market cap of $45.98 billion, a PE ratio of -105.38, a price-to-earnings-growth ratio of 13.13 and a beta of 1.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Venturi Wealth Management LLC lifted its position in shares of DoorDash by 54.5% during the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock valued at $35,000 after buying an additional 90 shares in the last quarter. SJS Investment Consulting Inc. lifted its position in shares of DoorDash by 26.9% during the 4th quarter. SJS Investment Consulting Inc. now owns 462 shares of the company’s stock valued at $46,000 after buying an additional 98 shares in the last quarter. Westside Investment Management Inc. lifted its position in shares of DoorDash by 18.2% during the 4th quarter. Westside Investment Management Inc. now owns 650 shares of the company’s stock valued at $64,000 after buying an additional 100 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of DoorDash by 1.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 6,540 shares of the company’s stock valued at $647,000 after buying an additional 100 shares in the last quarter. Finally, Summit Trail Advisors LLC lifted its position in shares of DoorDash by 0.3% during the 1st quarter. Summit Trail Advisors LLC now owns 36,925 shares of the company’s stock valued at $5,085,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Transactions at DoorDash

In other news, Director Shona L. Brown sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total transaction of $76,797.00. Following the sale, the director now owns 71,514 shares of the company’s stock, valued at approximately $7,845,800.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $130.95, for a total transaction of $916,650.00. Following the sale, the chief financial officer now owns 384,425 shares of the company’s stock, valued at approximately $50,340,453.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shona L. Brown sold 700 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total value of $76,797.00. Following the transaction, the director now owns 71,514 shares in the company, valued at approximately $7,845,800.94. The disclosure for this sale can be found here. Insiders have sold 487,782 shares of company stock valued at $64,046,807 in the last 90 days. 9.59% of the stock is currently owned by company insiders.

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.