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Investing.com - BTIG has reiterated its Buy rating and $315.00 price target on DoorDash Inc. (NASDAQ:DASH) ahead of the company’s November 5 earnings report. The target sits within the analyst range of $205-$360, with InvestingPro data showing the stock has delivered an impressive 73% return over the past year.
The firm updated its model to reflect strong underlying tracking data and incorporate the recently acquired Deliveroo business, which is expected to add approximately $2 billion to fourth-quarter gross order value (GOV) and more than $11 billion to 2026 GOV. This expansion aligns with the company’s robust revenue growth forecast of 23% and current market capitalization of $112.38 billion.
BTIG positioned its third-quarter GOV estimates at the high end of DoorDash’s guidance, citing strong trends evident in U.S. credit card receipt data, though the firm noted this shouldn’t be surprising to investors.
The research firm adjusted its fourth-quarter and 2026 estimates upward in dollar terms, while lowering projections for take-rate, gross margin, and EBITDA margin to account for the Deliveroo acquisition, which has not yet been reflected in consensus estimates.
BTIG cautioned that high expectations for DoorDash create a "tough set-up" heading into the earnings release, despite the firm’s view that the company should continue benefiting from "an underappreciated combo of user growth, member mix shift & ramping ad revenue."
In other recent news, DoorDash has announced a partnership with Waymo to launch an autonomous delivery service in Metro Phoenix, with plans for broader commercial operations later this year. This service will initially involve deliveries from DashMart using Waymo’s fully autonomous vehicles, with future plans to include other merchants. Additionally, DoorDash has formed a multi-year strategic partnership with Serve Robotics to deploy autonomous sidewalk delivery robots across the United States, starting in Los Angeles.
On the financial front, Guggenheim has initiated coverage on DoorDash with a Buy rating and a price target of $330, citing the company’s potential to strengthen its delivery leadership position. Citizens has maintained its Market Outperform rating on DoorDash, setting a price target of $335, despite noting a slowdown in global daily active user growth to 12.3% year-over-year. These developments highlight DoorDash’s ongoing efforts to innovate in delivery technology and its strong market position as recognized by analysts.
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