DoorDash (NYSE:DASH) Announces Earnings Results, Misses Expectations By $0.10 EPS

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DoorDash (NYSE:DASH) issued its quarterly earnings results on Thursday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.10), MarketWatch Earnings reports.

Shares of NYSE:DASH traded up $1.83 on Friday, reaching $190.04. The company’s stock had a trading volume of 179,049 shares, compared to its average volume of 3,196,862. DoorDash has a 52-week low of $110.13 and a 52-week high of $256.09. The business has a 50-day moving average price of $173.43. The company has a market cap of $61.92 billion and a P/E ratio of -25.72.

In related news, CEO Tony Xu sold 80,000 shares of the stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $138.91, for a total value of $11,112,800.00. Following the completion of the sale, the chief executive officer now directly owns 80,000 shares of the company’s stock, valued at approximately $11,112,800. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Gordon S. Lee sold 5,467 shares of the firm’s stock in a transaction that occurred on Thursday, May 20th. The stock was sold at an average price of $136.72, for a total value of $747,448.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,295,472 shares of company stock worth $1,251,384,629. Insiders own 15.54% of the company’s stock.

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A number of equities research analysts recently weighed in on DASH shares. Gordon Haskett began coverage on shares of DoorDash in a report on Monday, August 2nd. They set a “buy” rating and a $206.00 price objective for the company. Royal Bank of Canada lifted their price target on DoorDash from $175.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday. JMP Securities lifted their price objective on DoorDash from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday. Barclays upped their price objective on DoorDash from $160.00 to $183.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Needham & Company LLC upped their target price on DoorDash from $195.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $184.26.

About DoorDash

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, 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; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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