Q2 2024 EPS Estimates for DoorDash, Inc. Lowered by Wedbush (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) – Wedbush decreased their Q2 2024 earnings per share (EPS) estimates for DoorDash in a research note issued to investors on Wednesday, May 1st. Wedbush analyst S. Devitt now anticipates that the company will post earnings per share of ($0.11) for the quarter, down from their prior forecast of ($0.07). Wedbush has a “Neutral” rating and a $115.00 price objective on the stock. The consensus estimate for DoorDash’s current full-year earnings is $0.17 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 data on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period in the previous year, the company posted ($0.41) EPS. The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year.

A number of other research firms have also commented on DASH. Piper Sandler upgraded shares of DoorDash from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $53.00 to $127.00 in a research report on Friday, March 15th. The Goldman Sachs Group raised their price target on DoorDash from $109.00 to $122.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Roth Mkm cut their price objective on DoorDash from $121.00 to $118.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Wells Fargo & Company raised their target price on shares of DoorDash from $100.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Finally, Morgan Stanley raised shares of DoorDash from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $135.00 to $145.00 in a research note on Thursday, February 22nd. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $129.96.

DoorDash Trading Down 1.7 %

DASH stock opened at $115.56 on Monday. The firm has a 50 day moving average of $131.81 and a 200-day moving average of $110.94. The firm has a market capitalization of $46.69 billion, a P/E ratio of -107.00, a price-to-earnings-growth ratio of 15.89 and a beta of 1.78. DoorDash has a 12 month low of $62.83 and a 12 month high of $143.34.

Institutional Investors Weigh In On DoorDash

Several institutional investors and hedge funds have recently modified their holdings of DASH. Venturi Wealth Management LLC raised its stake in DoorDash by 54.5% in the first quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after buying an additional 90 shares in the last quarter. SJS Investment Consulting Inc. raised its position in shares of DoorDash by 26.9% in the 4th quarter. SJS Investment Consulting Inc. now owns 462 shares of the company’s stock worth $46,000 after acquiring an additional 98 shares in the last quarter. Westside Investment Management Inc. lifted its stake in shares of DoorDash by 18.2% in the 4th quarter. Westside Investment Management Inc. now owns 650 shares of the company’s stock valued at $64,000 after purchasing an additional 100 shares during the period. Hillsdale Investment Management Inc. boosted its position in shares of DoorDash by 1.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 6,540 shares of the company’s stock valued at $647,000 after purchasing an additional 100 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its stake in DoorDash by 0.3% in the first quarter. Summit Trail Advisors LLC now owns 36,925 shares of the company’s stock worth $5,085,000 after purchasing an additional 106 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DoorDash

In other news, Director Andy Fang sold 67,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $110.57, for a total transaction of $7,408,190.00. Following the completion of the transaction, the director now directly owns 40,969 shares of the company’s stock, valued at $4,529,942.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Gordon S. Lee sold 1,000 shares of DoorDash stock in a transaction on Friday, March 1st. The shares were sold at an average price of $124.50, for a total value of $124,500.00. Following the sale, the chief accounting officer now owns 92,207 shares in the company, valued at $11,479,771.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andy Fang sold 67,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $110.57, for a total transaction of $7,408,190.00. Following the transaction, the director now directly owns 40,969 shares in the company, valued at $4,529,942.33. The disclosure for this sale can be found here. Insiders sold 487,082 shares of company stock valued at $63,970,010 in the last quarter. Company insiders own 9.59% 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.