Shares of DoorDash (NYSE:DASH) gained in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at -$1.65, which missed consensus estimates of -$0.67. Sales increased by 40% year-over-year, with revenue hitting $1.82 billion. This beat analysts’ expectations of $1.76 billion.
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DoorDash’s fourth quarter total orders were up 27% in a year-over-year comparison. The total number of orders hit 467 million, which was up from 369 million orders in the fourth quarter of 2021. Gross order value, meanwhile, was up 29% in that same time frame, reaching $14.4 billion over the $11.2 billion seen previously. As a result, DoorDash management established a $750 million share buyback plan.
Looking forward, management now expects marketplace gross order volume of between $15.1 billion and $15.5 billion during Q1. For the full year 2023, meanwhile, it looks for between $60 billion and $63 billion. That readily falls in line with analyst consensus, which looks for $61.3 billion.
Overall, Wall Street has a consensus price target of $62.60 on DoorDash, implying 6.41% downside potential, as indicated by the graphic above.
