What is Wedbush’s Forecast for DoorDash FY2024 Earnings?

DoorDash, Inc. (NASDAQ:DASH) – Investment analysts at Wedbush boosted their FY2024 earnings per share (EPS) estimates for DoorDash in a report released on Thursday, October 31st. Wedbush analyst S. Devitt now anticipates that the company will post earnings per share of $0.26 for the year, up from their prior forecast of ($0.05). Wedbush currently has a “Neutral” rating and a $115.00 target price 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 also recently issued reports about the stock. BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a report on Thursday, September 19th. Jefferies Financial Group upped their target price on DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Argus initiated coverage on DoorDash in a report on Tuesday, July 23rd. They issued a “hold” rating on the stock. Roth Mkm boosted their price objective on DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Finally, Benchmark raised their target price on shares of DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $163.12.

DoorDash Trading Up 1.0 %

DASH stock opened at $157.24 on Monday. The firm has a 50 day moving average of $140.40 and a 200-day moving average of $124.10. The firm has a market capitalization of $64.71 billion, a P/E ratio of -349.42, a price-to-earnings-growth ratio of 359.82 and a beta of 1.67. DoorDash has a 12 month low of $83.58 and a 12 month high of $165.07.

DoorDash (NASDAQ:DASH) last posted its earnings results 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. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the firm earned ($0.19) EPS. The company’s quarterly revenue was up 25.0% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. ORG Partners LLC grew its stake in DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after purchasing an additional 253 shares during the period. Headlands Technologies LLC purchased a new stake in shares of DoorDash in the 2nd quarter worth about $32,000. Meeder Asset Management Inc. increased its stake in shares of DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 132 shares in the last quarter. Versant Capital Management Inc lifted its position in DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares during the period. Finally, Quest Partners LLC boosted its stake in DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 204 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 324,539 shares of company stock worth $46,439,330. 7.92% of the stock is currently owned by company insiders.

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.