Wedbush Has Bullish Estimate for DoorDash FY2024 Earnings

DoorDash, Inc. (NASDAQ:DASH) – Analysts at Wedbush increased their FY2024 earnings per share estimates for DoorDash in a research report issued to clients and investors on Thursday, October 31st. Wedbush analyst S. Devitt now expects that the company will post earnings per share of $0.26 for the year, up from their previous estimate of ($0.05). Wedbush currently has a “Neutral” rating and a $115.00 price objective on the stock. The consensus estimate for DoorDash’s current full-year earnings is $0.01 per share. Wedbush also issued estimates for DoorDash’s Q4 2024 earnings at $0.30 EPS and FY2025 earnings at $1.88 EPS.

Other research analysts have also issued reports about the stock. Morgan Stanley lifted their price objective on shares of DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. UBS Group raised their target price on shares of DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. The Goldman Sachs Group lifted their price target on DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research note on Friday. BTIG Research upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Thursday, September 19th. Finally, DA Davidson upped their target price on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $163.12.

DoorDash Price Performance

DASH stock opened at $155.66 on Monday. The company has a market cap of $64.06 billion, a price-to-earnings ratio of -345.91, a price-to-earnings-growth ratio of 359.82 and a beta of 1.67. The company has a fifty day moving average price of $140.40 and a 200 day moving average price of $124.15. DoorDash has a 12 month low of $83.58 and a 12 month high of $165.07.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.19) earnings per share.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the transaction, the director now owns 18,089 shares in the company, valued at $2,355,187.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now owns 18,089 shares in the company, valued at $2,355,187.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total transaction of $6,685,709.38. The disclosure for this sale can be found here. In the last three months, insiders sold 378,705 shares of company stock worth $53,125,040. Corporate insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Several large investors have recently modified their holdings of DASH. Marshall Wace LLP boosted its holdings in DoorDash by 930.5% in the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after purchasing an additional 610,388 shares during the last quarter. Forsta AP Fonden boosted its stake in shares of DoorDash by 18.6% during the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after buying an additional 10,100 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of DoorDash in the first quarter worth $2,969,000. CWM LLC increased its stake in shares of DoorDash by 97.1% in the third quarter. CWM LLC now owns 10,705 shares of the company’s stock worth $1,528,000 after buying an additional 5,273 shares during the last quarter. Finally, Paragon Capital Management Inc. acquired a new stake in DoorDash in the second quarter valued at $1,309,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.