DoorDash stock price target raised to $340 from $326 at Truist Securities

Investing.com - Truist Securities raised its price target on DoorDash Inc. (NASDAQ:DASH) to $340 from $326 on Thursday, while maintaining a Buy rating on the food delivery company’s stock. The stock has shown remarkable momentum, delivering a 74% return over the past year and currently trading near its 52-week high of $285.50.

The firm cited its analysis of Truist Card Data indicating that growth in U.S. gross order value has tracked slightly ahead of expectations for the third quarter and is showing year-over-year acceleration so far in the fourth quarter through October 18.

Truist Securities attributed the momentum to management’s solid execution across both restaurants and new verticals, with sustained improvements in order growth and average order values amid resilient consumer demand.

The financial performance is allowing DoorDash management to strengthen its international expansion efforts, highlighted by the closing of its acquisition of UK-based Deliveroo in October, according to the research firm.

Truist Securities noted that the Deliveroo acquisition expands DoorDash’s total addressable market and positions the company for sustained growth and profitability momentum in 2026. DoorDash is scheduled to report its third-quarter earnings on November 5.

In other recent news, DoorDash has been the subject of various developments. BTIG has maintained its Buy rating and set a price target of $315 for DoorDash ahead of its upcoming earnings report, noting strong tracking data and the integration of the Deliveroo acquisition, which is expected to significantly boost the company’s gross order value. Meanwhile, Guggenheim has initiated coverage with a Buy rating and a $330 price target, highlighting DoorDash’s leadership in delivery services and potential positive contributions from its Grocery & Retail investments. Citizens also reiterated its Market Outperform rating with a $335 target, despite noting a slower growth rate in global daily active users.

In addition to these analyst updates, DoorDash has launched an autonomous delivery service in partnership with Waymo in Metro Phoenix, aiming to expand commercial operations later this year. This service initially involves deliveries from DashMart, with plans to include other merchants over time. However, the company is facing allegations from Culper Research, which claims that DoorDash has been onboarding unauthorized workers through a "backdoor" process. According to the short seller, this might involve a significant portion of the company’s deliveries. These developments provide investors with a multifaceted view of DoorDash’s current position and future prospects.

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