DoorDash stock price target raised to $300 from $230 at Needham

Investing.com - Needham raised its price target on DoorDash Inc. (NASDAQ:DASH) to $300 from $230 on Thursday, while maintaining a Buy rating on the food delivery company’s shares. The stock, currently trading at $258.08, is approaching its 52-week high of $259.87, having delivered an impressive 112% return over the past year. According to InvestingPro data, analyst targets for DASH range from $179 to $360.

The research firm cited DoorDash’s accelerating growth, potential upside for estimates, and path for margin expansion as key factors justifying the higher valuation target despite what some investors might view as elevated valuation levels.

Needham highlighted DashPass, the company’s subscription service, as a "significant differentiator" that helped drive record frequency during the second quarter, with growth in subscribers accelerating from the first quarter.

The firm also noted that DoorDash continues to add new customers, with the size of new customer cohorts increasing year-over-year in each month during the second quarter.

DoorDash’s stock has been performing strongly in 2025, with the new price target representing significant upside potential from current trading levels.

In other recent news, DoorDash has seen a series of analyst upgrades following its robust second-quarter performance. Citizens JMP raised its price target to $335 from $250, highlighting DoorDash’s accelerated order growth of 20% year-over-year in Q2 2025. The company’s gross order value and EBITDA both exceeded the high end of its guidance, indicating strong financial health. Wolfe Research also increased its price target to $310 from $240, citing a "clean beat and raise" quarter with improved user engagement and unit economics.

Raymond (NSE:RYMD) James raised its price target to $325, emphasizing the impact of DoorDash’s loyalty programs like DashPass and Wolt+ on its core execution. Wells Fargo (NYSE:WFC) adjusted its price target to $280 from $239, noting a promising growth outlook in the U.S. market driven by DashPass membership and expansion into new verticals. UBS also raised its target to $280, maintaining a Neutral rating while acknowledging strong topline growth trends. These developments reflect a positive sentiment among analysts regarding DoorDash’s future prospects.

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