DoorDash Analysts Boost Their Forecasts After Strong Sales
Portfolio Pulse from Avi Kapoor
DoorDash, Inc. (NASDAQ:DASH) reported better-than-expected Q2 revenue of $2.63 billion, beating the consensus estimate of $2.54 billion. However, the company reported a quarterly loss of 38 cents per share, missing analyst estimates. Despite the mixed results, analysts from Needham and Truist Securities raised their price targets for DoorDash.
August 02, 2024 | 1:12 pm
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DoorDash reported Q2 revenue of $2.63 billion, beating estimates, but missed on EPS with a loss of 38 cents per share. Analysts from Needham and Truist Securities raised their price targets despite the mixed results.
DoorDash's better-than-expected revenue performance is a positive indicator, although the EPS miss is a concern. The raised price targets from analysts suggest confidence in the company's future performance, likely leading to a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100