See our dashboard on DoorDash Revenue for an overview of DoorDash’s business model and how its revenues are likely to trend. See our analysis DoorDash Valuation : Expensive Or Cheap? for more details on DoorDash’s valuation. DoorDash is looking to move into delivering more lucrative products such as alcohol and non-perishable goods, while also expanding its international footprint. DoorDash trades at under 3x projected 2022 revenues, which is well below the 16x forward revenue multiples the stock traded at in 2021. DoorDash stock (NYSE: DASH) has declined by almost 40 from its February 2021 highs and remains down by about 6 year-to-date, trading at around 133 per share. That said, we remain positive on the stock, with our price estimate standing at about 25% ahead of the current market price. Cl A Watch list Open Last Updated: at 1:43 p.m. This could mean that DoorDash will take some time to turn profitable. Overview Stock Screener Earnings Calendar Sectors NYSE DASH U.S.: NYSE DoorDash Inc. Adjusted gross margins have trended steadily lower falling from about 56% roughly to 47% in Q3 2022. Goldman Sachs Adjusts Price Target on DoorDash to 98 From 73, Maintains Neutral Rating BofA Securities Adjusts DoorDashs Price Target to 100 From 95. Moreover, profitability also remains elusive for the company, despite its rising delivery volumes and revenues. could be headed into a recession and this could impact DoorDash given that delivery demand is largely levered toward discretionary spending. Firstly, there are concerns that the U.S. We have reduced our price estimate for DASH stock to about $60 per share, from a previous estimate of $100 per share, due to a couple of factors. The company’s Dashpass service, which has higher customer loyalty and order rates, also grew sequentially to all-time highs. Total revenues also grew by 33% year-over-year during the quarter, coming in ahead of Street estimates. This is higher than the average stock in the S&P 500, which has a price-to-sales ( P/S. Over Q3 2022, DoorDash grew marketplace gross order value by 21% year-over-year to $12.6 billion, excluding the results of the recently acquired Finnish delivery service Wolt. At a current market cap of 26 billion, DoorDash trades at 3.6x its trailing revenue. DoorDash’s growth has also been reasonably strong. That being said, the food and grocery delivery story remains largely intact as a theme, despite the easing of Covid-19 and a recovery of brick-and-mortar retail. Share prices are down almost 13 year to date, partly because investors anticipate less. High inflation and a tight labor market have also proven dampeners for DoorDash. Analysts on Wall Street expect DoorDash to report revenue of 993 million and a loss per share of 0.26. Firstly, investors have pivoted away from pandemic favorites and highly valued tech stocks amid rising interest rates. There have been many negative factors impacting DoorDash. Beata Zawrzel/NurPhoto via Getty Images) NurPhoto via Getty Imagesįood delivery player DoorDash stock (NYSE: DASH DASH) had a very challenging 2022, declining by over 65% over the year. Doordash logo sign is seen in a restaurant in Chicago, United States, on October 17, 2022.
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