DoorDash Inc (NYSE:DASH) shares are poised ahead of today’s quarterly results, due after market close, with the price holding steady after a wave of buys on Wednesday.
The food and groceries delivery firm advanced some 11% a day before the results, and, now with a few hours to go investors await volatility.
Wall Street analysts expect to see US$1.76bn of revenue and a $0.70 per share loss for the quarter ended December 31.
Eyes will be on commentary regarding the health of consumer demand and DoorDash’s share of the market.
Potential market share gains and higher user spending could help DoorDash, according to a recent note from broker MoffettNathanson which rates the firm at ‘outperform’.
Bank of America, meanwhile, reckon a regulatory clampdown in New York - calling for higher wages, a minimum of US$23.82 an hour - presents a threat to future earnings as the city contributes some US$90mln a year of orders for DoorDash. Nevertheless, the proposed rule change is expected to phase in through 2023 up to 2025.
In New York, at midday on Thursday, DoorDash shares were up $0.52 or 0.76% at US$68.69.
The stock remains a long way away from its mid-pandemic IPO price of US$102, in December 2020.