Wedbush Analysts Cut Earnings Estimates for DoorDash, Inc. (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) – Analysts at Wedbush dropped their Q2 2024 earnings per share estimates for shares of DoorDash in a research note issued to investors on Wednesday, May 1st. Wedbush analyst S. Devitt now anticipates that the company will post earnings of ($0.11) per share for the quarter, down from their previous estimate of ($0.07). 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 $0.17 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 quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The firm’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.41) EPS.

Several other analysts also recently issued reports on DASH. Truist Financial reduced their price target on DoorDash from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. BMO Capital Markets reduced their price target on DoorDash from $138.00 to $127.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. Mizuho lifted their price objective on DoorDash from $140.00 to $152.00 and gave the company a “buy” rating in a report on Friday, February 16th. Jefferies Financial Group raised DoorDash from a “hold” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $130.00 in a report on Monday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on DoorDash from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $129.96.

DoorDash Price Performance

DASH opened at $117.59 on Monday. The business has a fifty day simple moving average of $131.86 and a 200 day simple moving average of $110.63. The company has a market capitalization of $47.51 billion, a PE ratio of -108.21, a price-to-earnings-growth ratio of 15.89 and a beta of 1.78. DoorDash has a 1 year low of $62.83 and a 1 year high of $143.34.

Insider Buying and Selling

In related news, Director Shona L. Brown sold 700 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $141.60, for a total transaction of $99,120.00. Following the sale, the director now owns 70,111 shares in the company, valued at approximately $9,927,717.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Keith Yandell sold 3,500 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $124.50, for a total transaction of $435,750.00. Following the sale, the insider now owns 161,102 shares in the company, valued at approximately $20,057,199. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shona L. Brown sold 700 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $141.60, for a total value of $99,120.00. Following the sale, the director now owns 70,111 shares in the company, valued at approximately $9,927,717.60. The disclosure for this sale can be found here. Insiders have sold 487,082 shares of company stock worth $63,970,010 in the last 90 days. Insiders own 9.59% of the company’s stock.

Institutional Investors Weigh In On DoorDash

A number of institutional investors have recently made changes to their positions in DASH. Raymond James & Associates grew its position in shares of DoorDash by 62.3% in the 3rd quarter. Raymond James & Associates now owns 12,551 shares of the company’s stock valued at $997,000 after buying an additional 4,820 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of DoorDash by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,052,163 shares of the company’s stock valued at $83,615,000 after buying an additional 12,872 shares during the last quarter. Forsta AP Fonden grew its position in shares of DoorDash by 1.5% in the 3rd quarter. Forsta AP Fonden now owns 55,600 shares of the company’s stock valued at $4,419,000 after buying an additional 800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of DoorDash by 9.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,267 shares of the company’s stock valued at $3,677,000 after buying an additional 4,114 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of DoorDash by 1.3% in the 3rd quarter. Mackenzie Financial Corp now owns 11,022 shares of the company’s stock valued at $851,000 after buying an additional 145 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

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.