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

DoorDash, Inc. (NASDAQ:DASH) – Analysts at William Blair raised their Q3 2024 EPS estimates for shares of DoorDash in a research note issued to investors on Wednesday, May 1st. William Blair analyst R. Schackart now expects that the company will earn $0.05 per share for the quarter, up from their previous forecast of ($0.13). The consensus estimate for DoorDash’s current full-year earnings is $0.17 per share. William Blair also issued estimates for DoorDash’s Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($0.23) EPS, Q1 2025 earnings at ($0.10) EPS, Q2 2025 earnings at ($0.13) EPS, Q3 2025 earnings at ($0.02) EPS, Q4 2025 earnings at $0.03 EPS and FY2025 earnings at ($0.21) EPS.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) 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 net margin of 4.61% and a negative return on equity of 6.28%. The firm’s revenue was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.41) EPS.

Several other equities analysts also recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $137.00 price target on shares of DoorDash in a research note on Thursday, May 2nd. JMP Securities dropped their price target on shares of DoorDash from $160.00 to $140.00 and set a “market outperform” rating for the company in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of DoorDash from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. UBS Group dropped their price target on shares of DoorDash from $123.00 to $118.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Finally, BMO Capital Markets dropped their price target on shares of DoorDash from $138.00 to $127.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $129.96.

DoorDash Stock Performance

DASH stock opened at $117.59 on Monday. The company has a fifty day moving average price of $131.86 and a 200-day moving average price of $110.63. The company has a market capitalization of $47.51 billion, a P/E ratio of -108.21, a PEG ratio of 15.89 and a beta of 1.78. DoorDash has a 52-week low of $62.83 and a 52-week high of $143.34.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total value of $17,458,308.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other DoorDash news, Director Shona L. Brown sold 700 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $141.60, for a total value of $99,120.00. Following the transaction, the director now directly owns 70,111 shares of the company’s stock, valued at $9,927,717.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total transaction of $17,458,308.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 487,082 shares of company stock worth $63,970,010. 9.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DASH. Empowered Funds LLC lifted its position in shares of DoorDash by 31.6% during the first quarter. Empowered Funds LLC now owns 5,732 shares of the company’s stock valued at $789,000 after purchasing an additional 1,375 shares in the last quarter. Sciencast Management LP lifted its position in shares of DoorDash by 48.5% during the first quarter. Sciencast Management LP now owns 4,131 shares of the company’s stock valued at $569,000 after purchasing an additional 1,349 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of DoorDash by 98.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,732 shares of the company’s stock valued at $789,000 after purchasing an additional 2,848 shares in the last quarter. ORG Partners LLC lifted its position in shares of DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 253 shares in the last quarter. Finally, Carlyle Group Inc. bought a new position in shares of DoorDash during the first quarter valued at about $572,000. 90.64% of the stock is owned by institutional investors.

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.