Latest news with #ScottDevitt
Yahoo
4 days ago
- Business
- Yahoo
DoorDash's Strong Growth Signals Ambitious Long-Term Trajectory
DoorDash, Inc. (NASDAQ:DASH) shares are trading higher on Thursday. Yesterday, the firm reported second-quarter earnings of 65 cents per share, which beat the analyst consensus estimate of 43 cents. Quarterly revenue came in at $3.28 billion, which beat the Street estimate of $3.16 billion and is up from revenue of $2.63 billion from the same period last analyst Scott Devitt reiterated the Neutral rating on the stock, raising the price forecast from $190 to $200. Devitt observed that DoorDash's second-quarter adjusted EBITDA guidance of $600 million to $650 million aligns with consensus yet exceeds his prior $541 million forecast. The analyst noted that, despite ongoing U.S. macro uncertainty, the strong second-quarter Gross Order Value (GOV) outlook points to a healthy full-year growth trajectory. Consequently, Devitt raised the 2025 GOV and adjusted EBITDA estimates by roughly 4% and 11%, respectively. Devitt noted that DoorDash continues to execute well on its key strategic initiatives and is positioning the business for sustainable, long-term growth. The analyst highlighted that, alongside the earnings release, the company announced agreements to acquire Deliveroo and SevenRooms in two separate transactions. Devitt explained that these deals will expand DoorDash's addressable market and bolster its global product offerings. The analyst cautioned, however, that the benefits from these acquisitions are unlikely to materialize for several quarters, as the transactions are expected to close in the fourth quarter of 2025. The analyst now forecasts second-quarter GOV at $23.6 billion, a 19.6% year-over-year gain versus the prior $22.6 billion estimate (+14.3% year over year). Devitt added that the revenue projection has been raised to $3.1 billion, up 18.7% year-over-year from the previous $3.0 billion forecast (+13.5% year over year). Check out DASH stock price and chart in real-time here. Read More: Photo via Shutterstock Latest Ratings for DASH Date Firm Action From To Feb 2022 JMP Securities Maintains Market Outperform Feb 2022 JP Morgan Maintains Neutral Feb 2022 Needham Maintains Buy View More Analyst Ratings for DASH View the Latest Analyst Ratings UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article DoorDash's Strong Growth Signals Ambitious Long-Term Trajectory originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
7 days ago
- Business
- Business Insider
Wedbush Sticks to Their Hold Rating for Wayfair (W)
Wedbush analyst Scott Devitt maintained a Hold rating on Wayfair today and set a price target of $70.00. The company's shares closed today at $73.48. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Devitt covers the Consumer Cyclical sector, focusing on stocks such as CarMax, eBay, and Amazon. According to TipRanks, Devitt has an average return of 12.5% and a 51.93% success rate on recommended stocks. In addition to Wedbush, Wayfair also received a Hold from Truist Financial's Youssef Squali in a report issued today. However, on the same day, William Blair maintained a Buy rating on Wayfair (NYSE: W). W market cap is currently $8.37B and has a P/E ratio of -22.81. Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of W in relation to earlier this year.
Yahoo
31-07-2025
- Business
- Yahoo
Why this analyst gives Amazon's earnings report a B+
Amazon (AMZN) beat on earnings and revenue for the second quarter, but the stock is slipping in after-hours trading. Wedbush Securities managing director of equity research Scott Devitt joins Market Domination to explain why Wall Street isn't wowed so far despite solid numbers. To watch more expert insights and analysis on the latest market action, check out more Market Domination. Amazon reporting a beat on earnings and revenue for the second quarter, while its key Amazon Web Services segment saw sales increase 17 and a half percent year over year. Here with a closer look is Wedbush Securities Managing Director of Equity Research, Scott Devitt. Scott, great to see you, sir, as always. So, Amazon reports, Scott, the just at least initial reaction in the after hours, Scott, we got the stock down about 4%. What do you make of the results? Uh they're good. I mean, I give it a B+. I'll tell you what's good and and then why the stock's probably down. The retail business overperformed healthily, advertising was very strong. Um, operating margin beat by 13%. And then AWS, 17 and a half percent growth is healthy, but because of the overperformance of Google's cloud business, and then Azure, you know, whispers were kind of creeping up towards 18, 19. So, it's not a miss relative to analyst expectations, but relative to buy-side expectations, you know, going into number, maybe that was a little bit light. And I think that's why we're seeing the response in the stock. So you think it's it's it's a compare and contrast story right now, Scott? They're just the bar got set high by Microsoft, by Alphabet. Yes, like being the cleanup hitter and and having the first three batters hit home runs in front of you. The bar, you know, the bar is rising, and then you have to do something even better. And in the case of Amazon, it was a good AWS quarter. But if all you're going to focus on is AWS, and you look at the prior reporters, most notably Microsoft and and Google, their results for the three-month period were better, you know, relative to expectations. And so, there's nothing wrong here, but that's it's just an expectations, you know, miss in that regard for a stock that has been relatively strong in recent weeks. Can I ask you in that big cloud fight, Scott, now that you've heard from all three, Microsoft, Alphabet, Amazon, what are Amazon's competitive advantages there? So, like Azure has, you know, uh a lot of affiliation with OpenAI, ChatGPT, which helps the revenue of the business. Amazon's tied to Anthropic, which is smaller but starting to grow and will be a more significant contributor in the second half. I think the moat that Amazon has, which is the question that you had, is that they are the legacy leader in providing the services. So, as they layer AI into their product portfolio, as they've done, their customer base gravitates towards that, and they continue to grow. But it's a it's a battle. There's three very good companies, you know, going after these cloud revenue. And um Amazon had it kind of all to itself for many years. And now, you know, Azure looks like the um, you know, the the prettier the prettier girl at the prom, if you will, at the moment. Let me ask you, Scott, about this other metric here. They they did project operating income in the current quarter. I I don't know if it fell short of your estimates. It does look like it did fall short of consensus. Um operating profit is going to be between 15 and a half to 20.5 billion. It looks like in the period ending in September. I'm just curious what you make of that data point, that metric, Scott. Is that is that perhaps worrying folks? Well, maybe they're turning on that spend spending spigot just a little too hard. It shouldn't. I mean, they um the capex year to date is 57 billion. So they're probably going to ultimately do more than the 105 billion for the year. But the reason why that guide is not an issue is that Amazon's been exceeding the high end of their guidance for many consecutive quarters. In fact, it guided to the second quarter of, I think it was 13 billion to 17 and a half billion, and just did 19.2. So when you look at that guide in respect to what it just did relative to its prior guide, you conclude that estimates are just fine. It's just the way that Amazon guides. They put a low hurdle out there to beat. So, if that's driving, you know, some of the underperformance after hours, that's a non-issue. Um where I think the core focus is to the extent that you're matching, you know, stock price performance to where actually there was disappointment, it had to be in that AWS number.
Yahoo
20-06-2025
- Automotive
- Yahoo
CarMax pops on Q1 earnings: The journey to catch up to Carvana
CarMax (KMX) stock gains after reporting an earnings beat driven by strong demand for used vehicles. Wedbush Securities managing director of equity research Scott Devitt outlines the results and the used car retailer's efforts to catch up to Carvana (CVNA). To watch more expert insights and analysis on the latest market action, check out more Catalysts here. CarMax is rising after topping first quarter expectations with sales rising nearly 6% from a year earlier boosted by strong demand for used vehicles. Joining me now, we've got Scott David, who is the Vedbush Security's managing director of equity research. Great to have you here with us. So, you have an outperform rating and a $90 price target on the stock. How are you looking at CarMax right now? I thought it was a good quarter. You know, retail units were up 9%. Um, it was a record high gross profit dollar per unit. Um, so it was a good quarter. You know, this company is uh constantly playing catch up with Carvana. And um, I think Carvana is making it a better company, but it's a slow progression. You know, and they've shown some some signs here of strength. I think the asset long-term is mispriced favorably, but um, you know, but it but it's uh it's kind of a steady as she goes and they have to keep executing. You know, we're continuing to look across this gross profit and and I wonder your evaluation of their gross profit and it did increase by 13% in the most recent quarter driven by higher unit volumes, strong unit margin performance here. But so much of this business is making sure that when they are purchasing cars as well that they're purchasing cars that are favorable enough for them to then be able to flip and add on that margin. What's your own assessment of the margin run rate that they're going to be able to achieve over time here and and grow to even get more shareholder value returned? So what's happened in the past 12 months is that retail prices have been rising faster than wholesale prices, which is good for a retailer like CarMax because they capture that spread. I think what you're going to see potentially over the next 12 months is that um, that that gap tightening a little bit, which will be, you know, somewhat of a headwind, but from a sourcing standpoint and a scale standpoint, it's really kind of a two-player game. You know, 90% of this industry is sold by small mom and pop still. And CarMax and and particularly Carvana, you know, are consolidating the industry at the at the kind of head of the industry. Um, what's notable, you know, is within the next three years that Carvana is going to start to approach and potentially exceed CarMax units. So that'll be important to watch. I think both companies can win. Um, but there's one, you know, performing at an A+ level and and and that's Carvana. And I think, you know, CarMax is probably a BB+ right now and the rest of the industry is a C.
Yahoo
20-06-2025
- Automotive
- Yahoo
CarMax pops on Q1 earnings: The journey to catch up to Carvana
CarMax (KMX) stock gains after reporting an earnings beat driven by strong demand for used vehicles. Wedbush Securities managing director of equity research Scott Devitt outlines the results and the used car retailer's efforts to catch up to Carvana (CVNA). To watch more expert insights and analysis on the latest market action, check out more Catalysts here. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
