DoorDash (NASDAQ:DASH) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

DoorDash (NASDAQ:DASH - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.05, Zacks reports. The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. DoorDash's quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.06) EPS.

DoorDash Stock Performance

NASDAQ DASH traded down $2.13 during trading on Friday, hitting $180.83. The stock had a trading volume of 843,855 shares, compared to its average volume of 5,341,173. DoorDash has a one year low of $99.32 and a one year high of $215.24. The stock has a 50 day simple moving average of $184.81 and a 200 day simple moving average of $180.42. The stock has a market capitalization of $75.97 billion, a price-to-earnings ratio of 669.74 and a beta of 1.68.

Insider Activity

In related news, COO Prabir Adarkar sold 20,000 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $184.85, for a total value of $3,697,000.00. Following the transaction, the chief operating officer now owns 887,348 shares of the company's stock, valued at $164,026,277.80. This trade represents a 2.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 15,198 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $204.11, for a total transaction of $3,102,063.78. Following the completion of the sale, the chief financial officer now directly owns 351,970 shares of the company's stock, valued at approximately $71,840,596.70. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 158,573 shares of company stock valued at $30,407,073. 7.92% of the stock is currently owned by insiders.

Institutional Trading of DoorDash

An institutional investor recently raised its position in DoorDash stock. Brighton Jones LLC grew its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 24.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,336 shares of the company's stock after buying an additional 1,807 shares during the quarter. Brighton Jones LLC's holdings in DoorDash were worth $1,566,000 at the end of the most recent reporting period. Institutional investors own 90.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DASH shares. Needham & Company LLC upped their target price on DoorDash from $225.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday. Barclays lifted their price target on shares of DoorDash from $163.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 13th. Wedbush reissued an "outperform" rating on shares of DoorDash in a research report on Wednesday. FBN Securities initiated coverage on shares of DoorDash in a research note on Friday, March 28th. They issued an "outperform" rating and a $230.00 price objective on the stock. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $230.00 price objective on shares of DoorDash in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, DoorDash presently has an average rating of "Moderate Buy" and an average price target of $209.97.

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.