On-demand food delivery service DoorDash (NASDAQ: DASH) will be announcing earnings results this Wednesday after the bell. Here’s what you need to know.
DoorDash missed analysts’ revenue expectations last quarter, reporting revenues of $3.96 billion, up 37.7% year on year. It was a softer quarter for the company, with a slight miss of analysts’ revenue estimates and EBITDA guidance for next quarter missing analysts’ expectations significantly. It reported 903 million service requests, up 31.8% year on year.
Is DoorDash a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting DoorDash’s revenue to grow 37% year on year, improving from the 20.7% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. DoorDash has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at DoorDash’s peers in the consumer internet segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Fiverr’s revenues decreased 1.6% year on year, beating analysts’ expectations by 1%, and Amazon reported revenues up 16.6%, topping estimates by 2.4%. Fiverr traded up 12.4% following the results while Amazon’s stock price was unchanged.
Read our full analysis of Fiverr’s results here and Amazon’s results here.
There has been positive sentiment among investors in the consumer internet segment, with share prices up 11.1% on average over the last month. DoorDash is up 11.7% during the same time and is heading into earnings with an average analyst price target of $249.67 (compared to the current share price of $173.25).
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