Doordash, Inc. (DASH)
NASDAQ:DASH
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DoorDash
(NASDAQ:DASH)
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Rating:65Neutral
Price Target:
$176.00
▼(-4.29% Downside)
Action:Reiterated
Date:05/09/26
The score is driven primarily by improving fundamentals (profitability inflection and strong cash generation) and a constructive earnings outlook with continued demand/monetization momentum. These positives are tempered by weak technical trend signals and a high P/E with no dividend yield support, which increases sensitivity to execution and margin delivery.
Positive Factors
Strong cash generation
Consistent operating cash flow and robust free cash flow provide durable funding for product investment, replatforming, and strategic moves (international, autonomy) without relying solely on external financing. This improves long-term optionality and supports sustained reinvestment and shareholder returns.
Negative Factors
Rising leverage and higher debt
Increased debt levels reduce financial flexibility and raise fixed obligations if growth or margins slip. Higher leverage constrains capacity for opportunistic M&A or larger buybacks, and magnifies downside risk in an economic slowdown or if cash conversion weakens.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistent operating cash flow and robust free cash flow provide durable funding for product investment, replatforming, and strategic moves (international, autonomy) without relying solely on external financing. This improves long-term optionality and supports sustained reinvestment and shareholder returns.
Read all positive factors
DoorDash Key Performance Indicators (KPIs)
Any
Gross Order Volume
Represents the total value of all orders placed through DoorDash, indicating the scale of the platform and its ability to attract customers and merchants.
Represents the total value of all orders placed through DoorDash, indicating the scale of the platform and its ability to attract customers and merchants.
Data provided by:
The Fly
The FlyDoorDash (DASH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$70.03B
Dividend YieldN/A
Average Volume (3M)4.64M
Price to Earnings (P/E)89.3
Beta (1Y)1.51
Revenue Growth30.96%
EPS Growth167.38%
CountryUS
Employees31,400
SectorConsumer Cyclical
Sector Strength84
IndustryInternet Content & Information
Share Statistics
EPS (TTM)2.15
Shares Outstanding411,336,600
10 Day Avg. Volume6,254,166
30 Day Avg. Volume4,635,887
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)9.64
Price to Sales (P/S)7.05
P/FCF Ratio44.49
Enterprise Value/Market Cap0.98
Enterprise Value/Revenue4.67
Enterprise Value/Gross Profit9.18
Enterprise Value/Ebitda40.70
Forecast
1Y Price Target
$248.07Price Target Upside34.90% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering29
EPS Forecast (FY)2.58
Revenue Forecast (FY)$17.65B
DoorDash Business Overview & Revenue Model
Company Description
DoorDash, Inc. operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, which provides an array of services that enable merchants to solve m...
How the Company Makes Money
DoorDash primarily makes money by monetizing transactions on its marketplace and by selling services to merchants, consumers, and, in certain cases, through other service and partnership arrangements.
1) Marketplace transaction fees (merchant rev...
DoorDash Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call emphasized strong demand and market-share momentum (all-time high MAUs, record subscription engagement, record ads revenue, international acceleration), clear progress on strategic investments (replatforming, AI, autonomy, new verticals) and an intact full-year EBITDA outlook. Short-term headwinds include weather-related GOV impact (~1%), the one-off/near-term cost of the gas rewards program (~$50M per quarter in Q1/Q2), and redundant replatforming costs running through 2026. Management repeatedly highlighted that new initiatives are early but trending well and that they have plans to offset temporary costs. Overall, the positive operational trends, scaling monetization, and on-track strategic investments outweigh the manageable near-term costs and execution risks.Positive Updates
Strong Demand and User Metrics
MAUs reached an all-time high, order frequency is growing, subscription (DashPass and other membership programs) delivered a record quarter, and member growth accelerated year-over-year. Management noted they are gaining share in the majority of markets and that new verticals continue to drive adoption.
Negative Updates
Short-Term Weather Impact and Order Deceleration
Q1 GOV/order growth saw a modest deceleration; management attributed roughly a ~1% year-over-year GOV impact from winter storms.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Demand and User Metrics
MAUs reached an all-time high, order frequency is growing, subscription (DashPass and other membership programs) delivered a record quarter, and member growth accelerated year-over-year. Management noted they are gaining share in the majority of markets and that new verticals continue to drive adoption.
Read all positive updates
Company Guidance
The company reiterated targeted investments and financial expectations for 2026, including a $100 million reinvestment into the global tech platform, near‑term OpEx roughly in the ~2% range, and that the bulk of redundant replatforming costs will run through 2026 (with some bleed into early 2027) as production traffic ramps; it said gas‑reward support cost ~$50 million in Q1 and is expected to be roughly $50 million in Q2 (with no decision yet on extension and offsets to be found), winter storms shaved about 1% from year‑over‑year GOV in Q1, and management continues to expect full‑year 2026 EBITDA margins slightly higher than 2025 excluding RUE (with RUE expected to produce roughly ~$200 million of EBITDA), second‑half EBITDA and margins to be higher than first half, new verticals trending to be gross‑profit positive in H2, MAUs at all‑time highs with about 30% of MAUs ordering outside restaurants, record subscription and ad engagement, and that “well north of half” (closer to two‑thirds) of code is now written by AI.DoorDash Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
66
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.72B | 13.72B | 10.72B | 8.63B | 6.58B | 4.89B |
| Gross Profit | 7.49B | 6.98B | 5.18B | 4.05B | 3.00B | 2.55B |
| EBITDA | 1.69B | 1.69B | 523.00M | -68.00M | -663.00M | -296.00M |
| Net Income | 925.00M | 935.00M | 123.00M | -558.00M | -1.36B | -468.00M |
Balance Sheet | ||||||
| Total Assets | 19.71B | 19.66B | 12.85B | 10.84B | 9.79B | 6.81B |
| Cash, Cash Equivalents and Short-Term Investments | 5.53B | 5.51B | 5.34B | 4.08B | 3.52B | 3.76B |
| Total Debt | 3.29B | 3.75B | 536.00M | 522.00M | 511.00M | 399.00M |
| Total Liabilities | 9.50B | 9.61B | 5.04B | 4.03B | 3.02B | 2.14B |
| Stockholders Equity | 10.20B | 10.03B | 7.80B | 6.81B | 6.75B | 4.67B |
Cash Flow | ||||||
| Free Cash Flow | 1.75B | 2.17B | 1.80B | 1.35B | 21.00M | 455.00M |
| Operating Cash Flow | 2.39B | 2.43B | 2.13B | 1.67B | 367.00M | 692.00M |
| Investing Cash Flow | -4.33B | -4.39B | -444.00M | -342.00M | -300.00M | -2.05B |
| Financing Cash Flow | 2.18B | 2.36B | -204.00M | -752.00M | -375.00M | -483.00M |
DoorDash Technical Analysis
Negative
183.89
Price Trends
163.80
Negative
180.06
Negative
211.63
Negative
Market Momentum
-3.21
Positive
47.25
Neutral
38.93
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DASH, the sentiment is Negative. The current price of 183.89 is above the 20-day moving average (MA) of 165.41, above the 50-day MA of 163.80, and below the 200-day MA of 211.63, indicating a bearish trend. The MACD of -3.21 indicates Positive momentum. The RSI at 47.25 is Neutral, neither overbought nor oversold. The STOCH value of 38.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DASH.
DoorDash Risk Analysis
DoorDash disclosed 69 risk factors in its most recent earnings report. DoorDash reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
DoorDash Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $9.71B | 15.56 | 16.35% | ― | 11.84% | 14.91% | |
74 Outperform | $1.24B | 20.51 | 19.70% | ― | 2.09% | 4.03% | |
71 Outperform | $151.86B | 140.32 | 33.32% | ― | 18.31% | -29.89% | |
70 Outperform | $5.07B | 92.18 | 150.20% | ― | 9.36% | 5134.71% | |
65 Neutral | $70.03B | 89.32 | 9.57% | ― | 30.96% | 167.38% | |
64 Neutral | $785.66M | -11.86 | -10.32% | ― | 6.78% | 52.54% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% |
* Consumer Cyclical Sector Average
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DoorDash Corporate Events
Business Operations and StrategyFinancial Disclosures
DoorDash Posts Strong Q1 Growth Amid Platform Integration
Positive
May 6, 2026
On May 6, 2026, DoorDash reported first-quarter 2026 results showing robust growth in its core marketplace metrics, with total orders rising 27% year over year to 933 million, marketplace gross order value climbing 37% to $31.6 billion, and revenu...
Business Operations and StrategyFinancial Disclosures
DoorDash Reports Strong Q4 2025 Growth and Profitability
Positive
Feb 18, 2026
DoorDash on February 18, 2026 reported strong growth for the fourth quarter and full year 2025, with Q4 total orders up 32% year over year to 903 million, marketplace gross order value rising 39% to $29.7 billion, and revenue climbing 38% to $4.0 ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.