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Investing.com - Cantor Fitzgerald has reiterated an Overweight rating and $330.00 price target on DoorDash Inc. (NASDAQ:DASH), currently trading at $263.09 with a market cap of $112.4 billion, following the European Commission’s approval of the company’s acquisition of Deliveroo. According to InvestingPro analysis, the stock appears overvalued at current levels, though analysts maintain a bullish outlook.
The EU Commission approved DoorDash’s takeover of Deliveroo on September 9, with the deal expected to close in the coming weeks. DoorDash announced the agreement to acquire Deliveroo in May for GBP 2.9 billion (approximately $3.9 billion), with Deliveroo shareholders approving the bid in June.
On a standalone basis, Deliveroo’s gross order value grew by 9% year-over-year in the first half of 2025, excluding Hong Kong, while its EBITDA margin expanded by 60 basis points to 2.5%. With regulatory approvals now largely behind, the acquisition is expected to close soon.
The acquisition provides DoorDash with a significant footprint in the UK, where Deliveroo holds approximately 33% market share, as well as several other key European markets including France, Italy, and the UAE. Cantor Fitzgerald expects DoorDash to invest strategically in product enhancements, operational improvements, and supply.
DoorDash shares have traded up 6% over the past month, compared to the Nasdaq’s 3% gain, with Cantor Fitzgerald maintaining its Overweight rating and identifying DoorDash as a top pick. The stock has delivered an impressive 56.8% return year-to-date, with analysts maintaining a strong buy consensus. For deeper insights into DoorDash’s valuation and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which includes over 15 additional ProTips and extensive financial metrics.
In other recent news, DoorDash has received European Union approval for its $3.93 billion acquisition of Deliveroo, a move that could influence its operations as the company integrates Deliveroo along with other recent acquisitions, SevenRooms and Symbiosys. This development has led MoffettNathanson to raise its price target for DoorDash to $305, maintaining a Buy rating on the stock. Meanwhile, DA Davidson also adjusted its price target upward to $260 from $190, citing increased projections for DoorDash’s gross order value and revenue by 2026, although they maintained a Neutral rating.
Additionally, DoorDash has entered a new partnership with Ace Hardware, facilitating on-demand delivery from over 4,000 Ace locations across the U.S. This collaboration marks Ace as the largest nationwide home improvement cooperative on the DoorDash platform, allowing customers to receive hardware and other products in under an hour. In another analyst note, Citizens JMP reiterated its Market Outperform rating on DoorDash, setting a price target of $335 and emphasizing the potential impact of autonomous delivery technology. These recent developments underscore the evolving landscape for DoorDash as it expands its services and integrates new acquisitions.
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