California-based food delivery company, DoorDash Inc DASH, will be announcing its third-quarter earnings after market close on Nov. 1. DoorDash is one of the leading players in the food delivery industry. It operates a logistics platform that connects merchants, consumers, and dashers. Through its DoorDash Marketplace and Wolt Marketplace, DoorDash operates in over 25 countries worldwide.

DoorDash Q3 Earnings Preview – What Analysts Will Be Watching

So far this year, DoorDash has been able to improve its revenues and profitability on the back of an increase in marketplace gross order value. The company has also successfully expanded its offering from being just a food delivery company to an on-demand local commerce platform.

While unit economics appear to be working in its favor, stiff and rising competition from Uber Technologies Inc UBER and Amazon.com Inc AMZN continue to pose a big risk.

See Also: Don’t Want To Tip On Your DoorDash Delivery? You May Have To Wait Longer For Your Grub, Says Company: Report

DoorDash Stock: Analyst Ratings & Consensus Estimates

For the third-quarter, Wall Street analysts are expecting DoorDash to report a negative EPS of 40 cents and $2.09 billion in revenue. For the fiscal year ending December 2023, the company is expected to report $1.31 in EPS and $8.41 billion in revenue.

Recent analyst reports from 35 analysts over the last 90 days rate the stock a Buy, with an average consensus price target of $96.74.

Over the past two months, we've seen mixed opinions from sell-side analysts, with their price targets for DoorDash stock in the range of $90 to $105. Aaron Kessler of Seaport Global initiated coverage on DASH stock with a Neutral rating. Andrew Boone of JMP Securities reiterated Market Outperform while maintaining his price target of $100 on the stock.

However, the stock is trading at an elevated price multiple (P/E) of 57.4, compared to a sector P/E median of just 13.43.

DASH Stock Price Action

The stock has gained 20%+ over the past six months and was up 2.38% to $74.95 on Tuesday.

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