FY2024 EPS Estimates for DoorDash Raised by William Blair

DoorDash, Inc. (NASDAQ:DASH) – Equities research analysts at William Blair upped their FY2024 earnings estimates for DoorDash in a report issued on Wednesday, October 30th. William Blair analyst R. Schackart now expects that the company will post earnings per share of $0.23 for the year, up from their previous estimate of ($0.47). The consensus estimate for DoorDash’s current full-year earnings is $0.17 per share. William Blair also issued estimates for DoorDash’s Q4 2024 earnings at $0.27 EPS, Q1 2025 earnings at $0.34 EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.54 EPS, Q4 2025 earnings at $0.53 EPS and FY2025 earnings at $1.67 EPS.

DoorDash (NASDAQ:DASH) last released its quarterly 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. The firm 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 business’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the firm posted ($0.19) EPS.

Other equities research analysts have also recently issued research reports about the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of DoorDash in a research report on Monday, October 7th. Argus started coverage on shares of DoorDash in a report on Tuesday, July 23rd. They issued a “hold” rating for the company. Jefferies Financial Group upped their price objective on DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. BMO Capital Markets lifted their target price on DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada boosted their target price on DoorDash from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $163.12.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $159.46 on Monday. The business has a fifty day moving average of $140.97 and a 200-day moving average of $124.29. DoorDash has a twelve month low of $83.58 and a twelve month high of $165.07. The firm has a market cap of $65.62 billion, a PE ratio of -354.22, a price-to-earnings-growth ratio of 18.08 and a beta of 1.67.

Hedge Funds Weigh In On DoorDash

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. increased its position in shares of DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares during the period. Capital World Investors increased its holdings in DoorDash by 0.8% in the 1st quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock valued at $1,304,242,000 after buying an additional 74,504 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of DoorDash by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock valued at $753,281,000 after buying an additional 242,956 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of DoorDash by 11,416.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after buying an additional 3,425,115 shares in the last quarter. Finally, Dragoneer Investment Group LLC lifted its holdings in shares of DoorDash by 77.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after acquiring an additional 1,246,567 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $127.86, for a total value of $895,020.00. Following the completion of the sale, the chief financial officer now directly owns 396,152 shares in the company, valued at $50,651,994.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 value of $6,510,000.00. Following the completion of the sale, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $127.86, for a total value of $895,020.00. Following the completion of the sale, the chief financial officer now owns 396,152 shares of the company’s stock, valued at approximately $50,651,994.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 324,539 shares of company stock valued at $46,439,330. Company insiders own 7.92% 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.