|Bid||168.68 x 1000|
|Ask||171.40 x 1000|
|Day's Range||155.18 - 172.97|
|52 Week Range||135.38 - 256.09|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||173.86|
DoorDash reported a higher year-on-year loss in its first quarterly report after the IPO in December. The food-delivery company's net loss more than doubled from the prior-year period, however, revenues remained strong and more than tripled during the reported period. DoorDash (DASH) reported a GAAP net loss of $312 million in 4Q compared with the prior-year period’s loss of $134 million, due to IPO-related costs and stock-based compensation. Nevertheless, its 4Q revenues spiked 226% year-over-year to $970 million, and were higher than analysts’ estimates of $938 million. Furthermore, the company’s orders soared 233% year-over-year to $273 million, driven by increased average order frequency, higher retention rates, and new customer additions. The company’s adjusted EBITDA stood at $94 million versus an adjusted EBITDA loss of $103 million in the year-ago quarter, led by an improvement in the cost structure. The company said in a statement that, “We saw strong growth in both restaurant and non-restaurant merchants on our Marketplace in Q4 2020. We believe our large and highly engaged consumer base, our merchant-first approach, our broad portfolio of products, and our brand remain strong selling points to merchants. Although we experienced rapid growth in restaurants on our Marketplace in 2020, we believe we still have substantial room to increase penetration in the restaurant vertical in the coming years.” (See DoorDash stock analysis on TipRanks) As for 1Q, the company expects adjusted EBITDA in the range of $0-$45 million. For 2021, it forecasts adjusted EBITDA to range between $0-$200 million. Following the earnings release, Wells Fargo analyst Brian Fitzgerald lowered the stock’s price target to $165 (3% downside potential) from $185 and maintained a Hold rating, as the analyst believes that valuations remain stretched. In a note to investors, Fitzgerald said, “We believe that longer term, however, DASH has several ways to grow into its multiple, including four verticals (Restaurants, Convenience, Grocery, and Retail).” Overall, the rest of the Street has a cautiously optimistic outlook on the stock, with a Moderate Buy consensus rating based on 13 Holds and 5 Buys. The average analyst price target of $167.13 implies downside potential of about 1.4% to current levels. Shares have lost around 11% in value over the past year. TipRanks’ Stock Investors tool shows that investors currently have a Very Negative stance on DASH, with about 7% of investors reducing their exposure to DASH stock over the past 30 days. Related News:Rocket Gains 6.8% On Special Dividend Announcement After A Blowout QuarterLHC Group Slips 5.9% After-Hours On Tepid 1Q OutlookArcosa’s 2021 Revenue Outlook Disappoints After 4Q Miss; Stock Plunges 16% More recent articles from Smarter Analyst: Airbnb Beats 4Q Sales, Sees Booking Demand Picking Up; Shares Pop 13% AT&T To Spin Off DirecTV In $16.3B Venture With TPG Steel Dynamics Bumps Up Q1 Dividend; Street Remains Cautiously Optimistic Fluor's 2021 Earnings Outlook Disappoints; Stock Slips 13%
Covid-19 fueled a delivery boom, but a massive tech-led productivity drive will impact the economy and change the way people work for years to come.
Benzinga's PreMarket Prep airs every morning from 8-9 a.m. ET. During that fast-paced, highly informative hour, traders and investors tune in to get the major news of the day, the catalysts behind those moves and the corresponding price action for the upcoming session. On any given day, the show will cover at least 20 stocks determined by co-hosts Joel Elconin and Dennis Dick along with producer Spencer Israel. After a company has its IPO, the first fundamental information investors will receive — besides comments from Wall Street analysts — is its inaugural earnings report. DoorDash Inc (NYSE: DASH), which reported for the first time Thursday, is the PreMarket Prep Stock of the Day. DoorDash Volatile Off Its IPO: DoorDash made its Wall Street debut Dec. 9 at $182 and ended its first session at $189.51. It went on to make its all-time low Dec. 31 ($135.38) and ended the year just off that low at $139.19. Off that low, it caught a relentless bid that was only temporarily interrupted, and it surged to its all-time high on Jan. 27 ($256.09). DoorDash was unable to sustain that elevated level and cratered to close that day at $193.07. The issue’s all-time closing high was made Feb. 10 ($215.16). Street Leans Bearish Into DoorDash Report: After making its all-time closing high, DoorDash was able to hover in the $200 handle but gave way on Feb. 19, swooning from $205.97 to $178.07. The move lower continued, and it closed on Thursday ahead of the report at $166.87. That marked the lowest close for the issue since Jan. 8, when it ended the session at $156.09. View more earnings on DASH DoorDash's Q4 Report: After the close on Thursday, the company announced a fourth-quarter EPS loss of $2.67, down from a $3.05 loss one year ago. DoorDash posted adjusted EBITDA of $94 million vs. a loss of $103 million in the same quarter last year. Sales of $970 million modestly beat a $937.95-million Street estimate. Total orders surged 233% year-over-year to 273 million, a figure no doubt boosted by consumers who dining in during the pandemic. DASH Price Action: After opening $11 lower Friday, the issue immediately bottomed at $155.03 and reversed course. The low came in just above the Jan. 11 low of $153.19. The ensuing rebound took the issue into the green. The stock was trading 1.89% higher at $170.02 at last check. DoorDash Moving Forward: From a technical standpoint, this issue is in no man’s land. If attempting to go long the issue at this level, the first possible exit point may not be until the current low ($155.01) or, stretching it but further, leaning on the Jan. 11 low ($153.11). Unfortunately, under that low, there is no daily support until the Jan. 8 low ($147.30). For those investors who want a sliver lining from Friday’s price action, a higher close on the session — over $166.87 — may signal that a short-term bottom is in place. See more from BenzingaClick here for options trades from BenzingaPreMarket Prep Stock Of The Day: Plug PowerPreMarket Prep Stock Of The Day: Oshkosh Corp.© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.