DoorDash (NASDAQ:DASH) Posts Quarterly Earnings Results, Beats Estimates By $0.17 EPS

DoorDash (NASDAQ:DASH) released its quarterly earnings results on Wednesday. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.17, Briefing.com reports. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.19) earnings per share.

DoorDash Stock Performance

Shares of DASH traded up $0.72 on Thursday, hitting $155.97. 6,177,696 shares of the stock traded hands, compared to its average volume of 3,833,490. DoorDash has a one year low of $72.65 and a one year high of $165.07. The company has a market capitalization of $64.19 billion, a PE ratio of -153.57, a P/E/G ratio of 425.82 and a beta of 1.70. The business has a 50 day simple moving average of $139.31 and a 200 day simple moving average of $123.83.

Insiders Place Their Bets

In other DoorDash news, COO Prabir Adarkar sold 32,124 shares of DoorDash stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $147.99, for a total value of $4,754,030.76. Following the completion of the sale, the chief operating officer now owns 963,094 shares of the company’s stock, valued at approximately $142,528,281.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Monday, October 14th. The shares were sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the transaction, the director now owns 18,089 shares in the company, valued at $2,710,274.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Prabir Adarkar sold 32,124 shares of DoorDash stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the transaction, the chief operating officer now owns 963,094 shares in the company, valued at $142,528,281.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 383,710 shares of company stock valued at $53,725,640. Company insiders own 7.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DASH. Mizuho increased their target price on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Wedbush reissued a “neutral” rating and issued a $115.00 target price on shares of DoorDash in a research note on Friday, August 2nd. Oppenheimer raised their price objective on DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Needham & Company LLC raised their price objective on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Raymond James started coverage on DoorDash in a research note on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.12.

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.