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Stock Alert: DoorDash Shares Soar 14%

Shares of DoorDash Inc. (DASH) are surging over 14% Friday morning, after the company reported a narrower-than-expected loss and an upsurge in Q1 revenue. The stock, which has been trading in the range of $110.13 - $256.09 for the past one year, is currently trading at $132.67, up $17.18 or 14.88%, with trading volume of over 3.00 million versus an average volume of 3.23 million shares.

Q1 Results

The company reported Q1 net loss of $110 million or $0.34 per share, narrower than the previous year's loss of $129 million or $2.92 per share. Analysts polled by Thomson Reuters expected a loss of $0.26 per share for the quarter. Analysts' estimate typically exclude certain special items.

Revenue for the quarter surged 198% to $1.08 billion from $362 million generated in the prior year period.

Total Orders skyrocketed 219% year-over-year to 329 million, and Marketplace gross order value or GOV spiked 222% year-over-year to $9.9 billion.

Q2, FY21 Outlook

The company expects Q2 Marketplace GOV to be in a range of $9.4 billion - $9.9 billion, with Adjusted EBITDA in a range of $0 million - $100 million.

For fiscal 2021, the company now sees Marketplace GOV in a range of $35.0 billion - $38.0 billion, with 2021 Adjusted EBITDA in a range of $0 million - $300 million.

"Our outlook for both Q2 and 2021 anticipates the successful rollout of COVID-19 vaccines and an associated increase in in-store dining rates, as well as a seasonal decline in order rates associated with the warmer summer months. While we observed encouraging trends in Q1, we caution investors that the outlook for 2021 remains highly uncertain as consumer behavior could deviate from the expectations included in our guidance," the company said.

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