DoorDash stock rise 11% after upbeat Q4 Results

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DoorDash Q4

Earning - The company reported a net loss of $0.45 per share compared to analysts' estimate of $.28 loss. The loss is significantly lower from the year-ago period when the company reported a loss of $2.67  per share. Sequentially, the loss increased from $.30 per share.

Revenue - DoorDash reported revenue of $1.3 billion for the December quarter beating the street estimate of $1.28 billion. During the year-ago period, the company posted revenue of $970 million.

Order value - December quarter gross order value grew 36% year-over-year to $11.2 billion, surpassing analysts’ estimate of $10.6 billion. It notched 369 million orders, higher than the 361 million orders analysts’ expected.

Acquisition - In November, DoorDash acquired Finnish food-delivery company Wolt Enterprises Oy for about $8.1 billion, its biggest purchase ever, in a bid to boost business outside the US International orders grew “substantially faster” than domestic ones in the fourth quarter.

2022 Outlook - The company expects Q1/22 Marketplace GOV to be in a range of $11.4-$11.8 billion, with Adjusted EBITDA of $50 million. For the full 2022-year, the company expects Marketplace GOV to be in a range of $48-$50 billion, with Adjusted EBITDA of $500 million. 

Target Price - The 16 analysts offering 12-month price forecasts for DoorDash Inc have a median target of $161, with a high estimate of $230 and a low estimate of $118. 

The DoorDash share closed 10.69% higher on Thursday at $105.03 per share.

DoorDash Q4 Results Review:

DoorDash posted better-than-expected revenue for the fourth quarter. Even the total orders topped analysts’ expectations. DoorDash also cautioned investors that “significant uncertainty remains around several factors, including the ongoing Covid pandemic and the impact of labour shortages, inflation, and other macroeconomic factors."