FY2024 EPS Estimates for DoorDash, Inc. Lifted by Analyst (NYSE:DASH)

[ad_1]

DoorDash, Inc. (NYSE:DASH) – Research analysts at Truist Securiti raised their FY2024 EPS estimates for shares of DoorDash in a note issued to investors on Thursday, August 12th. Truist Securiti analyst Y. Squali now anticipates that the company will post earnings per share of $1.34 for the year, up from their prior forecast of $1.18.

A number of other equities research analysts also recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of DoorDash from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday. Truist Securities upgraded shares of DoorDash from a “hold” rating to a “buy” rating and raised their price target for the company from $180.00 to $185.00 in a research note on Friday, May 14th. Royal Bank of Canada raised their price target on shares of DoorDash from $175.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday. Mizuho boosted their price target on shares of DoorDash from $155.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, KGI Securities started coverage on shares of DoorDash in a research note on Thursday, June 24th. They issued a “hold” rating for the company. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $184.26.

DASH stock opened at $194.79 on Monday. DoorDash has a 12 month low of $110.13 and a 12 month high of $256.09. The company has a market cap of $63.47 billion and a price-to-earnings ratio of -26.36. The firm has a 50-day moving average price of $174.45. DoorDash (NYSE:DASH) last released its quarterly earnings results on Thursday, August 12th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.10). The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.10 billion.

(Ad)

Options expert Jeff Clark is on a mission to show every American at or near retirement how easy it is to trade options. Watch his 32-second options trading “training video” here.

In related news, CAO Gordon S. Lee sold 5,467 shares of DoorDash stock in a transaction dated Thursday, May 20th. The stock was sold at an average price of $136.72, for a total value of $747,448.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Fast (Cayman) Ltd Svf sold 8,000,000 shares of the firm’s stock in a transaction dated Wednesday, May 19th. The stock was sold at an average price of $132.25, for a total value of $1,058,000,000.00. The disclosure for this sale can be found here. Insiders have sold 9,295,472 shares of company stock valued at $1,251,384,629 in the last three months. Insiders own 15.54% of the company’s stock.

Several hedge funds have recently modified their holdings of DASH. Renaissance Technologies LLC purchased a new stake in shares of DoorDash during the 2nd quarter worth $8,792,000. Northern Trust Corp increased its position in DoorDash by 353.5% during the 2nd quarter. Northern Trust Corp now owns 298,938 shares of the company’s stock valued at $53,310,000 after buying an additional 233,018 shares in the last quarter. Coatue Management LLC increased its position in DoorDash by 4.3% during the 2nd quarter. Coatue Management LLC now owns 9,659,319 shares of the company’s stock valued at $1,722,546,000 after buying an additional 401,135 shares in the last quarter. Laurion Capital Management LP acquired a new position in shares of DoorDash in the second quarter valued at about $1,513,000. Finally, Toroso Investments LLC acquired a new position in shares of DoorDash in the second quarter valued at about $931,000. Institutional investors and hedge funds own 72.87% of the company’s stock.

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.

Read More: What is insider trading?

Earnings History and Estimates for DoorDash (NYSE:DASH)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in DoorDash right now?

Before you consider DoorDash, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and DoorDash wasn’t on the list.

While DoorDash currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 

[ad_2]

Read More:FY2024 EPS Estimates for DoorDash, Inc. Lifted by Analyst (NYSE:DASH)