Why DoorDash Shares Are Rising Today

DoorDash Inc DASH shares are trading higher Friday morning after the company reported better-than-expected top-line results. 

DoorDash said first-quarter revenue increased 35% year-over-year to $1.46 billion, which beat the $1.37 billion estimate, according to data from  Benzinga Pro. The company reported a net loss of 48 cents per share, which was worse than estimates for a loss of 41 cents per share.

DoorDash said it grew monthly active users and DashPass members to new record highs. Total orders grew 23% year-over-year to 404 million. Average order frequency climbed to record highs as well.

Analyst Assessment:

• Needham analyst Bernie McTernan maintained DoorDash with a Buy rating and lowered the price target from $160 to $140.
• Citigroup analyst Ronald Josey maintained DoorDash with a Buy rating and lowered the price target from $155 to $138.

See Also: 24 Stocks Moving in Friday's Pre-Market Session

DASH 52-Week Range: $70.50 - $257.24

The stock was up 4.58% at $76.50 at press time.

Photo: GoToVan from Flickr.