Why DoorDash Shares Continue To Move Higher Today

DoorDash Inc DASH is trading higher Friday on continued strength after the company late Tuesday reported better-than-expected third-quarter revenue and issued guidance.

DoorDash reported quarterly revenue of $1.27 billion, which beat the estimate of $1.18 billion. The company reported a quarterly earnings loss of 30 cents per share.

DoorDash expects fourth-quarter adjusted EBITDA to be in a range of $0 to $100 million. The company expects fourth-quarter gross order value to be in a range of $10.3 billion to $10.7 billion.

"We caution investors that significant uncertainty remains and consumer behavior could deviate from the expectations included in our guidance," DoorDash noted.

DoorDash said it had over 9 million DashPass members at the end of the third quarter.

See Also: DoorDash Stock Rallies On Q3 Earnings: 3 Analyst Takes

"DoorDash's mission is to grow and empower local economies. We have invested heavily to drive economic growth and strengthen our marketplace through product improvements, added selection, and economic benefits for our key constituents," DoorDash said.

DASH Price Action: DoorDash has traded as high as $256.09 and as low as $110.13 over a 52-week period.

The stock was up 7.13% at $243.64 at time of publication.

Photo: GoToVan from Flickr.