Dingdong (Cayman) (NYSE:DDL) Issues Earnings Results

Key Points

• Earnings miss: Dingdong reported Q earnings of $0.02 EPS vs. $0.03 expected and revenue of $892.3M versus a $6.30B consensus, signaling a large revenue shortfall while delivering a 1.17% net margin and 31.21% ROE.
• Market and analyst stance: Shares opened at $2.76 with a $652M market cap (P/E 16.24), and recent downgrades—including Zacks to "strong sell"—leave the stock with an average MarketBeat rating of "Reduce."

Dingdong (Cayman) (NYSE:DDL - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01), FiscalAI reports. The company had revenue of $892.26 million during the quarter, compared to analysts' expectations of $6.30 billion. Dingdong (Cayman) had a return on equity of 31.21% and a net margin of 1.17%.

Dingdong (Cayman) Stock Performance

Shares of DDL stock opened at $2.76 on Thursday. The firm has a market cap of $651.99 million, a price-to-earnings ratio of 16.24 and a beta of 0.42. Dingdong has a 52 week low of $1.65 and a 52 week high of $3.68. The firm's 50-day simple moving average is $2.83 and its two-hundred day simple moving average is $2.30.

Institutional Investors Weigh In On Dingdong (Cayman)

Hedge funds have recently modified their holdings of the stock. Qube Research & Technologies Ltd increased its position in Dingdong (Cayman) by 283.3% in the second quarter. Qube Research & Technologies Ltd now owns 491,115 shares of the company's stock worth $992,000 after buying an additional 362,974 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Dingdong (Cayman) by 12.7% during the 2nd quarter. Bank of America Corp DE now owns 344,875 shares of the company's stock valued at $697,000 after buying an additional 38,756 shares during the last quarter. State Street Corp grew its stake in shares of Dingdong (Cayman) by 6.2% during the 4th quarter. State Street Corp now owns 275,642 shares of the company's stock worth $686,000 after acquiring an additional 16,034 shares during the period. Norges Bank purchased a new stake in Dingdong (Cayman) in the 2nd quarter worth about $593,000. Finally, Public Employees Retirement System of Ohio raised its stake in Dingdong (Cayman) by 8.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 223,125 shares of the company's stock valued at $462,000 after acquiring an additional 16,919 shares during the period. Institutional investors own 24.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on DDL. Zacks Research lowered Dingdong (Cayman) from a "hold" rating to a "strong sell" rating in a research report on Monday, January 19th. Wall Street Zen lowered shares of Dingdong (Cayman) from a "buy" rating to a "hold" rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Dingdong (Cayman) in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Dingdong (Cayman) has an average rating of "Reduce".

Dingdong (Cayman) Company Profile

Dingdong (Cayman) Inc, which operates under the Dingdong Fresh brand, is a China-based online grocery and fresh food delivery platform. The company leverages a network of urban micro-fulfillment centers to offer consumers a wide selection of produce, meats, seafood, dairy, packaged goods and everyday household items through its mobile application and website.

Orders placed via the Dingdong Fresh app are fulfilled from strategically located dark stores within target neighborhoods, enabling the company to promise delivery times as fast as 20–30 minutes.

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