DoorDash, Inc.
Thesis
DoorDash is expected to swing from an EBITDA loss of $1.7 billion in 2026 to a profit of $1.7 billion by 2030, driven by improvements in profitability across its New Verticals and International segments. Management's focus on profitability goals and a culture of accountability supports confidence in achieving these targets. The model predicts EBITDA margins will expand significantly, and the valuation suggests a strong upside potential with a target price of $318 per share.
Did it work?
Without specific price performance data or a clear timeline for the thesis, it's difficult to assess whether the anticipated improvements in EBITDA and profitability have begun to materialize. The long-term nature of the thesis, targeting 2030, means that any interim results would be considered noise at this stage. Therefore, the outcome remains uncertain.
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