DoorDash, Inc. (DASH), headquartered in San Francisco, California, operates a commerce platform that connects merchants, consumers, and independent contractors. Valued at $79.9 billion by market cap, the company develops technology to connect customers with merchants through an on-demand food delivery application. 

Shares of this food delivery giant have outperformed the broader market over the past year. DASH has gained 53.2% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 8.6%. In 2025, DASH stock is up 5.5%, surpassing the SPX’s 4.3% decline on a YTD basis. 

Zooming in further, DASH’s outperformance is also apparent compared to the Invesco NASDAQ Internet ETF (PNQI). The exchange-traded fund has gained about 15% over the past year. Moreover, DASH’s returns on a YTD basis outshine the ETF’s 1.3% losses over the same time frame.

DoorDash reported strong demand for deliveries in the first quarter, with grocery delivery surpassing previous quarters. The company has added more U.S. restaurants to its platform and expanded its geographic reach. DoorDash's subscription services, DashPass and Wolt+, have 22 million subscribers who find delivery more affordable. DoorDash is set to acquire Deliveroo for $3.9 billion and SevenRooms for $1.2 billion, expanding its business in Europe, Asia, and the Middle East. These acquisitions mark the company's biggest since 2022 when it bought Wolt Enterprises. With Deliveroo, DoorDash will operate in 45 countries, including 30 in Europe. 

On May 6, DASH shares closed down more than 7% after reporting its Q1 results. Its revenue stood at $3 billion, up 20.7% year over year. The company’s EPS came in at $0.44, compared to the loss per share of $0.06 in the prior-year quarter. 

For the current fiscal year, ending in December, analysts expect DASH’s EPS to grow 648.3% to $2.17 on a diluted basis. The company’s earnings surprise history is mixed. It beat the consensus estimate in two of the last four quarters while missing the forecast on two other occasions.

Among the 36 analysts covering DASH stock, the consensus is a “Moderate Buy.” That’s based on 23 “Strong Buy” ratings, three “Moderate Buys,” and 10 “Holds.”

This configuration is slightly less bullish than a month ago, with 24 analysts suggesting a “Strong Buy.” 

On May 7, Needham kept a “Buy” rating on DASH and raised the price target to $230, implying a potential upside of 30% from current levels.

The mean price target of $218.47 represents a 23.4% premium to DASH’s current price levels. The Street-high price target of $246 suggests a notable upside potential of 39%.