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DoorDash Inc Ordinary Shares - Class A - Stock Quote DASH

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Morningstar's DoorDash Inc Ordinary Shares - Class A Stock Analysis

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DoorDash’s Network Effect on Display During Strong Q1 and in Full-Year Guidance; Shares Undervalued

Ali Mogharabi Senior Equity Analyst

Analyst Note

| Ali Mogharabi |

DoorDash posted strong revenue growth and while contribution margin widened year over year, the firm missed on the bottom line as investments in new markets increased further. We were pleased to see continuing indications that DoorDash’s network effect is strengthening, which likely will aid the firm in providing additional delivery services. While management increased its full-year gross order volume guidance, our projection remains at the top of the range. We are maintaining our $163 fair value estimate and believe the narrow-moat name is attractive.

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DoorDash Inc Ordinary Shares - Class A's Company Profile

Business Description

Founded in 2013 and headquartered in San Francisco, DoorDash is an online food order demand aggregator. Consumers can use its app to order food on-demand for pickup or delivery from merchants mainly in the U.S. The firm provides a marketplace for the merchants to create a presence online, market their offerings, and meet demand by making the offerings available for pickup or delivery. The firm provides similar service to businesses in addition to restaurants, such as grocery, retail, pet supplies, and flowers. At the end of 2020, DoorDash had over 450,000 merchants, 20 million consumers, and over 1 million dashers on its platform. In 2020, the firm generated $24.7 billion in gross order volume (up 207% year over year) and $2.9 billion in revenue (up 226%).

303 2nd Street, South Tower, 8th Floor
San Francisco, CA, 94107
T +1 650 487-3970
Sector Communication Services
Industry Internet Content & Information
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Speculative Growth
Employees 8,600

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