DoorDash, Inc. (DASH)

We adjust our 2024/2025E EBITDA for DoorDash (DASH; $155.82; E/W) from $1,875mm/$2,275mm to $1,900mm/$2,375mm (+60% and +25% YoY) after the company produced better than expected Q3 results with guidance that was basically in line with…

Last week, DoorDash (DASH; $142.14; E/W) introduced a new suite of products aimed at helping merchants manage and expand their businesses. We think this announcement provides further support for the idea that the company is…

We raise our adjusted 2024/2025E EBITDA for DoorDash (DASH; $117.23; E/W) from $1,650mm /$2,050mm to $1,850mm/$2,275mm after the company produced a healthy “beat and raise” with Q2 results and outlook. DASH produced Q2 gross order…

DoorDash (DASH; $108.20; E/W) reported Q2 gross order value (GOV) of $19.7B (+20% YoY), which was ahead of our $19.25B and the Street’s $19.33B, leading to sales of $2,630mm (+5% QoQ and +23% YoY) that…

We assume DoorDash (DASH; $106.31; E/W) still aims to be within its Q2 guidance range when it reports on Thursday (8/1 after market) and that investor expectations are set appropriately for these goals. Recall, management…

DoorDash (DASH; $110.70; E/W) recently disclosed it expanded on-demand alcohol delivery services with the addition of several grocers and liquor stores, including brands under the Ahold Delhaize banner, as it also introduced a new suite…

The shares of DoorDash (DASH; $114.31; E/W) declined 10% yesterday after the Street was disappointed with “only” some modest Q1 upside and Q2E EBITDA guidance that was below consensus estimate at the mid-point of its…

DoorDash (DASH; $127.46; E/W) reported Q1 gross order value (GOV) of $19.2B (+21% YoY), which beat our $18.75B and the Street’s $18.84B, leading to sales of $2,513mm (+9% QoQ and +23% YoY) that compared to…

This morning, DoorDash (DASH; $138.93; E/W) announced the launch of a new benefits program in Pennsylvania for its couriers (aka Dashers). The program will offer a range of new benefits to Dashers including options around…

In recent weeks, DoorDash (DASH; $134.31; E/W) has continued to announce new retail on-demand delivery partnerships to its Marketplace platform, most recently adding well-known brands such as MAC Cosmetics, Pet Supplies and Sally Beauty. We…

We raise our 2024E EBITDA for DoorDash (DASH; $126.27; E/W) from $1.525B (2.0% of GOV) to $1.7B (2.2% of GOV) after the company provided initial 2024E guidance that encompassed our and Street thinking on the…

DoorDash (DASH; $126.27; E/W) reported Q4 sales of $2,303mm (+27% YoY), which was ahead of our $2,243mm and the Street’s $2,250mm on gross order value (GOV) of $17.64B (+22% YoY) in Q4 that was also…

Last Thursday (1/11), DoorDash (DASH; $104.13; E/W) announced several new retail on-demand delivery partnerships to its Marketplace platform, including well-known retail brands such as Camping World, Golf Galaxy, JD Sports, and The Vitamin Shoppe. As…

Last Thursday (11/16), DoorDash (DASH; $94.19; E/W) announced a new partnership with The Save Mart Companies to offer on-demand grocery delivery in under an hour from nearly 200 stores that operate under the banners Save…

We raise 2023E and 2024E adjusted EBITDA for DoorDash (DASH; $75.90; E/W) from $950mm/$1,100mm to $1,175mm/$1,525mm after its big “beat and raise” with Q3 results and outlook. Q3 EBITDA of $344mm (15.9% of sales) compared…