DoorDash, Inc. to Post FY2023 Earnings of ($1.24) Per Share, William Blair Forecasts (NYSE:DASH)

DoorDash, Inc. (NYSE:DASH) – Research analysts at William Blair lifted their FY2023 earnings per share estimates for DoorDash in a report issued on Wednesday, November 1st. William Blair analyst R. Schackart now expects that the company will earn ($1.24) per share for the year, up from their prior forecast of ($2.10). The consensus estimate for DoorDash’s current full-year earnings is ($1.73) per share. William Blair also issued estimates for DoorDash’s Q4 2023 earnings at ($0.21) EPS, Q1 2024 earnings at ($0.32) EPS, Q2 2024 earnings at ($0.30) EPS, Q3 2024 earnings at ($0.28) EPS, Q4 2024 earnings at ($0.32) EPS, FY2024 earnings at ($1.22) EPS and FY2025 earnings at ($1.10) EPS.

DoorDash (NYSE:DASH) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.26. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.09 billion. DoorDash had a negative return on equity of 9.88% and a negative net margin of 12.81%. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.77) earnings per share.

A number of other equities research analysts have also recently weighed in on the company. Jefferies Financial Group upgraded DoorDash from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $70.00 to $90.00 in a research note on Monday, September 11th. Mizuho upgraded DoorDash from a “neutral” rating to a “buy” rating and upped their price target for the stock from $90.00 to $105.00 in a research note on Monday, September 18th. Truist Financial upped their price target on DoorDash from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday. JMP Securities upped their price target on DoorDash from $100.00 to $113.00 and gave the stock a “market outperform” rating in a research note on Friday. Finally, UBS Group upped their price target on DoorDash from $70.00 to $100.00 in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $92.71.

DoorDash Trading Up 5.4 %

Shares of NYSE DASH opened at $92.49 on Monday. DoorDash has a twelve month low of $45.93 and a twelve month high of $93.19. The stock has a 50 day moving average of $78.68 and a two-hundred day moving average of $75.52. The stock has a market cap of $36.38 billion, a P/E ratio of -34.38 and a beta of 1.61.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 67,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $77.23, for a total value of $5,174,410.00. Following the sale, the director now directly owns 45,296 shares of the company’s stock, valued at approximately $3,498,210.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Keith Yandell sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $75.62, for a total value of $264,670.00. Following the transaction, the insider now directly owns 209,021 shares in the company, valued at approximately $15,806,168.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andy Fang sold 67,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $77.23, for a total value of $5,174,410.00. Following the completion of the transaction, the director now owns 45,296 shares in the company, valued at $3,498,210.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,014,465 shares of company stock valued at $80,595,254. Insiders own 9.59% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Large investors have recently modified their holdings of the company. Manchester Capital Management LLC purchased a new stake in shares of DoorDash during the 1st quarter valued at about $25,000. Fifth Third Bancorp raised its holdings in shares of DoorDash by 448.8% during the 3rd quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after buying an additional 359 shares during the period. Natixis purchased a new stake in shares of DoorDash during the 2nd quarter valued at about $52,000. Belpointe Asset Management LLC raised its holdings in shares of DoorDash by 7,242.9% during the 1st quarter. Belpointe Asset Management LLC now owns 1,028 shares of the company’s stock valued at $65,000 after buying an additional 1,014 shares during the period. Finally, National Bank of Canada FI raised its holdings in shares of DoorDash by 13.1% during the 3rd quarter. National Bank of Canada FI now owns 1,081 shares of the company’s stock valued at $86,000 after buying an additional 125 shares during the period. 75.84% of the stock is currently owned by hedge funds and other institutional investors.

About DoorDash

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, 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; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.