DoorDash Inc (NYSE:DASH) shares are trading higher Friday morning after the company reported better-than-expected top-line results.
DoorDash said first-quarter revenue increased 35% year-over-year to $1.46 billion, which beat the $1.37 billion estimate, according to data from Benzinga Pro. The company reported a net loss of 48 cents per share, which was worse than estimates for a loss of 41 cents per share.
DoorDash said it grew monthly active users and DashPass members to new record highs. Total orders grew 23% year-over-year to 404 million. Average order frequency climbed to record highs as well.
Analyst Assessment:
- Needham analyst Bernie McTernan maintained DoorDash with a Buy rating and lowered the price target from $160 to $140.
- Citigroup analyst Ronald Josey maintained DoorDash with a Buy rating and lowered the price target from $155 to $138.
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DASH 52-Week Range: $70.50 - $257.24
The stock was up 4.58% at $76.50 at press time.
Photo: GoToVan from Flickr.
