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Investing.com - Piper Sandler raised its price target on DoorDash Inc. (NASDAQ:DASH) to $290 from $210 on Thursday, while maintaining a Neutral rating on the food delivery company’s stock. The stock, currently trading at $270.46, has shown remarkable strength with a 112% return over the past year. According to InvestingPro analysis, DoorDash maintains a "GREAT" overall financial health score of 3.03 out of 5.
The price target increase follows DoorDash’s second-quarter 2025 results, which Piper Sandler described as "impressive" with accelerating orders, gross order value (GOV), and pricing compared to the first quarter.
The research firm noted that DoorDash appears to be successfully adding new customers and driving order frequency through expanded selection and growth in its Dashpass subscription service.
Piper Sandler adjusted its GOV estimates upward by 2% for 2025 and 6% for 2026, while EBITDA forecasts were increased by 2% and 10% respectively for those years.
Despite the significant price target increase and acknowledging they had been "too cautious" on DoorDash, Piper Sandler maintained its Neutral rating, citing valuation concerns that "still gives us pause."
In other recent news, DoorDash Inc. has garnered attention with several investment firms raising their stock price targets following the company’s strong earnings performance. RBC Capital increased its price target to $300, highlighting that DoorDash exceeded expectations across nearly every metric in its latest quarterly results, with third-quarter guidance surpassing Wall Street estimates. Cantor Fitzgerald also raised its target to $330, noting the company’s gross order value accelerated significantly, driven by its core U.S. marketplace. BTIG adjusted its price target to $315, citing DoorDash’s accelerating topline growth, increased order volume, and international expansion. Stifel raised its target to $239, acknowledging that DoorDash’s gross order value and EBITDA exceeded guidance, although margins aligned with expectations. Truist Securities set its price target at $326, praising DoorDash’s stellar second-quarter results and the company’s focus on product improvements in a growing market. These developments reflect a positive outlook from analysts on DoorDash’s recent performance and future potential.
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