DoorDash

The following is a summary of the DoorDash, Inc. (DASH) Q4 2023 Earnings Call Transcript: Financial Performance: DoorDash has consistently shown growth with an accelerated rate for three consecutive quarters. Over 7 million Dashers earned over $15 billion in 2023, suggesting positive financial implications for the company’s workforce. EBITDA has scaled profitably over the years, significantly driven by volume improvements and unit economic improvements across all major lines of business. Guided EBITDA for 2024 is forecasted to see more growth in the second half of the year, due to investments that are set to generate leverage later in the year. Business Progress: The company has seen substantial adoption of DoorDash and Wolt+ internationally, doubling in the quarter. DoorDash’s strategy to attract customers to non-restaurant categories has been successful, showing progress in its diversification efforts. In the grocery business, DoorDash has captured a sizeable market share, with 20% of customers choosing […]

Needham analyst Bernie McTernan reiterates DoorDash with a Buy and maintains $133 price target.

DoorDash (NASDAQ:DASH) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/06/2024 23.01% Needham → $133 Reiterates Buy → Buy 01/19/2024 0.81% Roth MKM $92 → $109 Maintains Neutral 01/17/2024 29.49% Mizuho $120 → $140 Maintains Buy 01/09/2024 10.99% BMO Capital → $120 Initiates Coverage On → Outperform 01/08/2024 20.24% Jefferies $90 → $130 Upgrades Hold → Buy 11/16/2023 15.61% Deutsche Bank → $125 Initiates Coverage On → Buy 11/15/2023 -2.89% Needham → $105 Reiterates Buy → Buy 11/03/2023 4.51% JMP Securities $100 → $113 Maintains Market Outperform 11/03/2023 20.24% Truist Securities $125 → $130 Maintains Buy 11/02/2023 -11.21% JP Morgan $95 → $96 Maintains Neutral 11/02/2023 -52.83% Piper Sandler $47 → $51 Maintains Underweight 11/02/2023 -12.13% Barclays $90 → $95 Maintains Equal-Weight 11/02/2023 -14.91% Wedbush $85 → $92 Maintains Neutral 10/24/2023 — Seaport Global Initiates Coverage On → Neutral 09/21/2023 -7.51% JMP

DoorDash (NASDAQ:DASH) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 4.23% Roth MKM $92 → $109 Maintains Neutral 01/17/2024 33.87% Mizuho $120 → $140 Maintains Buy 01/09/2024 14.75% BMO Capital → $120 Initiates Coverage On → Outperform 01/08/2024 24.31% Jefferies $90 → $130 Upgrades Hold → Buy 11/16/2023 19.53% Deutsche Bank → $125 Initiates Coverage On → Buy 11/15/2023 0.41% Needham → $105 Reiterates Buy → Buy 11/03/2023 8.06% JMP Securities $100 → $113 Maintains Market Outperform 11/03/2023 24.31% Truist Securities $125 → $130 Maintains Buy 11/02/2023 -8.2% JP Morgan $95 → $96 Maintains Neutral 11/02/2023 -51.23% Piper Sandler $47 → $51 Maintains Underweight 11/02/2023 -9.16% Barclays $90 → $95 Maintains Equal-Weight 11/02/2023 -12.03% Wedbush $85 → $92 Maintains Neutral 10/24/2023 — Seaport Global Initiates Coverage On → Neutral 09/21/2023 -4.38% JMP Securities → $100 Reiterates Market Outperform → Market Outperform

DoorDash (DASH) has raised the commission rates it charges restaurants and other merchant partners and plans to soon boost the delivery fees customers in New York City pay to offset the impact of a recent increase in the minimum wage paid to delivery workers, the company said in an email statement this week to MT Newswires. The pay floor for delivery workers rose to $17.96 per hour last month after a measure approved last summel. In response, DoorDash said the commission rate for delivery orders rose Wednesday to 23% and to 8% for pickup orders, up from 20% and 5%, respectively — the maximum amounts allowed under the city’s pandemic-era delivery rules. DoorDash and rivals Uber (UBER) and Grubhub, the US subsidiary of Dutch tech company Just Eat Takeaway.com, all fought the minimum-wage increase while it was before the New York City Council and later in unsuccessful court fights. DoorDash,

DoorDash (NASDAQ:DASH) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/17/2024 36.61% Mizuho $120 → $140 Maintains Buy 01/09/2024 17.09% BMO Capital → $120 Initiates Coverage On → Outperform 01/08/2024 26.85% Jefferies $90 → $130 Upgrades Hold → Buy 11/16/2023 21.97% Deutsche Bank → $125 Initiates Coverage On → Buy 11/15/2023 2.46% Needham → $105 Reiterates Buy → Buy 11/03/2023 10.26% JMP Securities $100 → $113 Maintains Market Outperform 11/03/2023 26.85% Truist Securities $125 → $130 Maintains Buy 11/02/2023 -6.32% JP Morgan $95 → $96 Maintains Neutral 11/02/2023 -50.23% Piper Sandler $47 → $51 Maintains Underweight 11/02/2023 -7.3% Barclays $90 → $95 Maintains Equal-Weight 11/02/2023 -10.23% Wedbush $85 → $92 Maintains Neutral 10/24/2023 — Seaport Global Initiates Coverage On → Neutral 09/21/2023 -2.42% JMP Securities → $100 Reiterates Market Outperform → Market Outperform 09/18/2023 2.46% Mizuho $90 → $105 Upgrades Neutral →

Mizuho Securities analyst James Lee raised the price target of DoorDash Inc (NASDAQ:DASH) to $140 (from $120) with a reiterated Buy rating (Top Pick). In 2024, the analyst projects moderated inflation and a tight labor market in the U.S. to support resilient consumer spending, with sectors such as advertising, e-commerce, and gig economy services witnessing share gain and margin expansion. In China, the analyst looks for consumer spending to remain subdued despite having a record high savings rate due to ongoing real-estate issues and rising unemployment. For DASH, the analyst expects continued GOV growth and share gains from favorable unit economics of rational competition, higher labor supply, and increased network density. Also, Lee projects continued margin expansion from lower dasher/customer acquisition costs and disciplined fixed-cost spending. Consequently, the analyst expects EBITDA growth of 20% in FY24, led by share gains in both food and grocery delivery. Also, the analyst writes that the optionality in

DoorDash (NASDAQ:DASH) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/09/2024 21.4% BMO Capital → $120 Initiates Coverage On → Outperform 01/08/2024 31.51% Jefferies $90 → $130 Upgrades Hold → Buy 11/16/2023 26.45% Deutsche Bank → $125 Initiates Coverage On → Buy 11/15/2023 6.22% Needham → $105 Reiterates Buy → Buy 11/03/2023 14.31% JMP Securities $100 → $113 Maintains Market Outperform 11/03/2023 31.51% Truist Securities $125 → $130 Maintains Buy 11/02/2023 -2.88% JP Morgan $95 → $96 Maintains Neutral 11/02/2023 -48.41% Piper Sandler $47 → $51 Maintains Underweight 11/02/2023 -3.89% Barclays $90 → $95 Maintains Equal-Weight 11/02/2023 -6.93% Wedbush $85 → $92 Maintains Neutral 10/24/2023 — Seaport Global Initiates Coverage On → Neutral 09/21/2023 1.16% JMP Securities → $100 Reiterates Market Outperform → Market Outperform 09/18/2023 6.22% Mizuho $90 → $105 Upgrades Neutral → Buy 09/15/2023 — MoffettNathanson Downgrades Outperform → Market

DoorDash (NASDAQ:DASH) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/08/2024 34.02% Jefferies $90 → $130 Upgrades Hold → Buy 11/16/2023 28.87% Deutsche Bank → $125 Initiates Coverage On → Buy 11/15/2023 8.25% Needham → $105 Reiterates Buy → Buy 11/03/2023 16.49% JMP Securities $100 → $113 Maintains Market Outperform 11/03/2023 34.02% Truist Securities $125 → $130 Maintains Buy 11/02/2023 -1.03% JP Morgan $95 → $96 Maintains Neutral 11/02/2023 -47.42% Piper Sandler $47 → $51 Maintains Underweight 11/02/2023 -2.06% Barclays $90 → $95 Maintains Equal-Weight 11/02/2023 -5.15% Wedbush $85 → $92 Maintains Neutral 10/24/2023 — Seaport Global Initiates Coverage On → Neutral 09/21/2023 3.09% JMP Securities → $100 Reiterates Market Outperform → Market Outperform 09/18/2023 8.25% Mizuho $90 → $105 Upgrades Neutral → Buy 09/15/2023 — MoffettNathanson Downgrades Outperform → Market Perform 09/11/2023 -7.22% Jefferies $70 → $90 Upgrades Underperform → Hold

Jefferies analyst John Colantuoni upgrades DoorDash (NASDAQ:DASH) from Hold to Buy and raises the price target from $90 to $130.

DoorDash to Announce Fourth Quarter 2023 Results on February 15, 2024 SAN FRANCISCO–(BUSINESS WIRE)–January 04, 2024– DoorDash, Inc. (NASDAQ: DASH) today announced the company’s fourth quarter 2023 financial results will be released after market close on Thursday, February 15, 2024. The company’s earnings press release and shareholder letter will be made available on the DoorDash Investor Relations website at ir.doordash.com. DoorDash will host a conference call to discuss its results at 2 p.m. PT / 5 p.m. ET the same day. Interested parties may register for and access the live webcast of the call at the DoorDash Investor Relations website at ir.doordash.com. Following the call, a replay will be available at the same website. DoorDash announces material information to the public through a variety of means, including filings with the Securities and Exchange Commission, press releases, public conference calls, webcasts, the investor relations section of its website (ir.doordash.com), and its

Barclays analyst Ross Sandler maintains DoorDash (NASDAQ:DASH) with a Equal-Weight and raises the price target from $90 to $95.