Why DoorDash Shares Are Trading Higher Today

DoorDash Inc DASH is trading significantly higher Thursday morning after the company announced better-than-expected top line results. 

DoorDash said quarterly revenue grew 34% year-over-year to $1.3 billion, which beat the $1.28 billion estimate. The company reported an earnings loss of 45 cents per share, which came in below the estimate for a loss of 27 cents per share. 

Orders totaled 369 million, up 35% year-over-year and monthly active users reached a record 25 million, up 22% year-over-year.

"In 2022, we intend to build on areas of strength in order to drive more sales for merchants, create more earning opportunities for Dashers, delight consumers in new ways, and increase the long-term profit potential of our business," Doordash said. 

DoorDash expects first-quarter marketplace gross order volume to between $11.4 billion and $11.8 billion. The company expects adjusted EBITDA to be between zero and $50 million in the first quarter.

See Also: DoorDash Q4 Earnings Highlights:Revenue Up 34%, 25M MAUs, Stock Surges

Analyst Assessment: Multiple analysts adjusted price targets on the stock following DoorDash's financial results:

  • RBC Capital analyst Brad Erickson maintained DoorDash with an Outperform rating and lowered the price target from $175 to $142.
  • Needham analyst Bernie McTernan maintained DoorDash with a Buy rating and lowered the price target from $270 to $160.
  • JP Morgan analyst Doug Anmuth maintained DoorDash with a Neutral rating and lowered the price target from $175 to $162.

DASH Price Action: DoorDash has traded as low as $91.96 and as high as $257.24 over a 52-week period.

The stock was up 22.4% at $116.12 Thursday morning.

Photo: GoToVan from Flickr.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!