On August 5, DoorDash, Inc. rose 3.73% in after-hours trading, trading at $207.0/share, with turnover of $17.79 million.
On the news front, the company released its second-quarter earnings report after market close. Ahead of the release, Wall Street consensus estimated revenue of $4.335 billion, representing 37.07% year-over-year growth, with adjusted EPS of $0.45. Institutions broadly maintained buy ratings on the stock, with a mean price target of $247.85 according to analyst polls.
On the business front, DoorDash recently obtained FAA Part 135 air carrier certification and formally established its proprietary drone delivery division, DoorDash Air, with plans to launch commercial aerial delivery this fall. Additionally, the company announced a direct integration with Shopify, extending its on-demand delivery services to physical retail merchants, marking continued expansion of its non-restaurant business portfolio. These catalysts collectively reinforced investor optimism heading into the earnings event.
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