DoorDash (NYSE:DASH) Announces Quarterly Earnings Results, Misses Expectations By $0.08 EPS

DoorDash (NYSE:DASHGet Rating) posted its quarterly earnings data on Thursday. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.08), MarketWatch Earnings reports. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company earned ($0.34) earnings per share. The firm’s revenue for the quarter was up 35.2% compared to the same quarter last year.

NYSE:DASH traded down $1.04 on Friday, reaching $72.11. 19,772,380 shares of the stock traded hands, compared to its average volume of 4,368,827. The firm has a market capitalization of $25.12 billion, a price-to-earnings ratio of -47.13 and a beta of 1.02. The company’s 50 day moving average is $99.11 and its 200-day moving average is $134.50. DoorDash has a 1-year low of $63.11 and a 1-year high of $257.25.

Several research firms recently weighed in on DASH. Northcoast Research began coverage on shares of DoorDash in a research report on Wednesday, January 19th. They set a “neutral” rating for the company. Susquehanna dropped their target price on shares of DoorDash from $145.00 to $100.00 in a report on Friday. Needham & Company LLC dropped their target price on shares of DoorDash from $160.00 to $140.00 in a report on Friday. Truist Financial dropped their target price on shares of DoorDash from $230.00 to $200.00 and set a “buy” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. dropped their target price on shares of DoorDash from $175.00 to $162.00 and set a “neutral” rating for the company in a report on Thursday, February 17th. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $163.00.

In other news, General Counsel Tia Sherringham sold 625 shares of the firm’s stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $88.00, for a total transaction of $55,000.00. Following the completion of the sale, the general counsel now owns 163,337 shares of the company’s stock, valued at approximately $14,373,656. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Us (Ttgp) Ltd. Sc acquired 390,276 shares of DoorDash stock in a transaction dated Tuesday, March 8th. The shares were bought at an average cost of $84.65 per share, with a total value of $33,036,863.40. The disclosure for this purchase can be found here. Insiders have sold a total of 428,322 shares of company stock valued at $44,623,551 in the last three months. Insiders own 15.54% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Toroso Investments LLC lifted its holdings in shares of DoorDash by 20.9% in the 4th quarter. Toroso Investments LLC now owns 7,179 shares of the company’s stock worth $1,069,000 after purchasing an additional 1,240 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of DoorDash by 107.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 15,224 shares of the company’s stock worth $2,314,000 after purchasing an additional 7,894 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of DoorDash by 14.0% in the 4th quarter. California State Teachers Retirement System now owns 211,823 shares of the company’s stock worth $31,540,000 after purchasing an additional 25,953 shares in the last quarter. Glenmede Trust Co. NA bought a new position in shares of DoorDash in the 4th quarter worth $1,544,000. Finally, Metropolitan Life Insurance Co NY lifted its holdings in shares of DoorDash by 5.0% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 8,930 shares of the company’s stock worth $1,330,000 after purchasing an additional 422 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

About DoorDash (Get Rating)

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

Further Reading

Earnings History for DoorDash (NYSE:DASH)

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