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 year.

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Wedbush 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.

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