DoorDash (DASH) will report fourth-quarter earnings later today. The food-delivery firm’s profitability will be in focus for DoorDash stock investors, after the company reported its first quarterly profit as a public company late last year.
DoorDash stock is up more than 60% over the past 12 months. Shares have been helped by steady order growth that analysts say shows the staying power of the “convenience economy.”
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Here’s what to watch from the company’s fourth-quarter results. Note: This article will be updated with results.
DoorDash Q4 By The Numbers
Wall Street expects earnings of 34 cents per share, swinging from a 39 cent per-share loss in the same period a year earlier, according to FactSet. The food delivery company’s sales are seen rising 23% to $2.84 billion.
Another number to watch is the firm’s marketplace gross order value, or the total spent on orders on DoorDash and its apps throughout the quarter.
Analysts project DoorDash’s gross order value will come in at $20.9 billion.
Rival Uber Technologies (UBER) gave a lower-than-expected first quarter sales outlook when the company reported its fourth quarter results last week. So DoorDash’s forecast will be closely watched.
DoorDash typically provides guidance for marketplace gross order value and for its adjusted EBITDA (earnings before interest, taxes, depreciation and amortization).
Analysts polled by FactSet project DoorDash will guide for gross order value around $22.4 billion and adjusted EBITDA of $583 million.
Evercore ISI analyst Mark Mahaney wrote in a research note late last week that he expects a modest beat of Q4 projections from DoorDash, with guidance that brackets expectations.
But, he added, “DoorDash likely faces similar Q1 headwinds Uber noted, including LA wildfires, lapping Leap Day, and, to a lesser degree, extreme weather conditions in the South.”
Mahaney rates DoorDash a positive outperform.
DoorDash Stock: Technical Ratings
On the stock market today, DoorDash stock is down a fraction at 191.77 in premarket trading. Shares have gained 14% so far this year.
Meanwhile, DoorDash stock has an IBD Composite Rating of 92 out of a best-possible 99, according to IBD Stock Checkup. The score combines five separate proprietary ratings into one rating. The best growth stocks have a Composite Rating of 90 or better.
DoorDash’s IBD Relative Strength Rating is 92 out of 99. The RS Rating means that DASH stock has outperformed 92% of all stocks in IBD’s database over the past year.
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