DoorDash Inc. (NYSE:DASH) shares, rose in value on Thursday, 06/23/22, with the stock price up by 7.86% to the previous day’s close as strong demand from buyers drove the stock to $70.27.
Actively observing the price movement in the last trading, the stock closed the session at $65.15, falling within a range of $65.04 and $70.64. Referring to stock’s 52-week performance, its high was $257.25, and the low was $56.67. On the whole, DASH has fluctuated by 3.63% over the past month.
With the market capitalization of DoorDash Inc. currently standing at about $26.43 billion, investors are eagerly awaiting this quarter’s results, scheduled for Feb 23, 2022 – Feb 28, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.36, which is expected to increase to -$0.17 for fiscal year -$1.43 and then to about -$0.82 by fiscal year 2023. Data indicates that the EPS growth is expected to be -2.90% in 2023, while the next year’s EPS growth is forecast to be 42.70%.
Analysts have estimated the company’s revenue for the quarter at $1.48 billion, with a low estimate of $1.45 billion and a high estimate of $1.51 billion. According to the average forecast, sales growth in current quarter could jump up 36.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $6.03 billion, representing an increase of 23.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 5 upward and no downward review(s) in last seven days. We see that DASH’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of DASH currently trading nearly 4.41% and -7.83% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 51.72, while the 7-day volatility ratio is showing 7.39% which for the 30-day chart, stands at 7.64%. Furthermore, DoorDash Inc. (DASH)’s average true range (ATR) is 5.75.
Data on historical trading for DoorDash Inc. (NYSE:DASH) indicates that the trading volumes over the past 10 days have averaged 5.76 million and over the past 3 months, they’ve averaged 5.95 million. According to company’s latest data on outstanding shares, there are 349.22 million shares outstanding.
Nearly 0.60% of DoorDash Inc.’s shares belong to company insiders and institutional investors own 81.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 13.01 million shares as on Apr 28, 2022, resulting in a short ratio of 3. According to the data, the short interest in DoorDash Inc. (DASH) stood at 3.70% of shares outstanding as of Apr 28, 2022; the number of short shares registered in Mar 30, 2022 reached 13.62 million. The stock has fallen by -52.81% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the DASH stock heading into the next quarter.