DoorDash, Inc. · DASH · FY2026 Q2 · Calendar Q3 2026

DoorDash pairs grocery growth with improving unit economics

The call supports a constructive but qualified view of DoorDash’s growth trajectory: grocery, subscriptions, advertising, international operations, AI, and autonomous delivery provide multiple potential drivers, while take-rate pressure, competition, scaling costs, and uncertain investment returns temper the outlook.

Reported After market closeNASDAQCommunication Services $84.46B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $0.46 Consensus $0.47
EPS surprise -1.7% Reported versus consensus
Reported revenue $4.45B Consensus $4.34B
Revenue surprise +2.6% Reported versus consensus

Market reaction

event-close to next-session close
Stock move +2.9% Event window
SPY move -0.2% Same window
Abnormal move +3.0% Stock minus SPY
Volume 2.4× Versus trailing sessions
Subsequent drift +4.1% Up to 20 sessions
DASHSPY benchmark

Ask FN2 about DASH FY2026 Q2

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Why did DASH rise 2.9% after missing EPS estimates in FY2026 Q2?What changed in DASH's guidance and outlook in FY2026 Q2?Give me the bull and bear case for DASH after FY2026 Q2 earnings.

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Transcript intelligence

What changed

Relative to the prior quarter, the analysis points to stronger evidence of grocery and international momentum, new AI-enabled ordering and fulfillment capabilities, measurable progress in autonomous delivery, and adjusted EBITDA performance above guidance. The main open questions shifted toward grocery repricing, the cost and scale profile of Dot, and the return on AI and platform investments.

Guidance delta

Maintained; management stayed on track with guidance while highlighting stronger operating performance.

Key takeaways

  • Management highlighted fast growth in grocery and other new verticals, with a path to gross-profit positivity in the second half.
  • DashPass growth, advertising, and international operations were cited as drivers of improving economics.
  • AI tools and DashMart fulfillment were presented as efficiency levers across the platform.
  • DoorDash Dot is progressing beyond its initial market, but scaling remains dependent on permits and execution.

Management priorities

  • Expand grocery, DashMart fulfillment, and other new verticals.
  • Grow DashPass, advertising, and international operations.
  • Unify the global technology stack and invest in AI-enabled customer, merchant, and Dasher tools.
  • Expand DoorDash Dot to additional cities with required permits.
  • Continue international and B2B product expansion.

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Earnings History

Estimate Beat Miss Match
DASH EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q1 '24 estimate $-0.04 Q1 '24 actual $-0.06, miss Q2 '24 estimate $-0.09 Q2 '24 actual $-0.38, miss Q3 '24 estimate $0.22 Q3 '24 actual $0.38, beat Q2 '25 estimate $0.44 Q2 '25 actual $0.65, beat Q3 '25 estimate $0.68 Q3 '25 actual $0.55, miss Q4 '25 estimate $0.59 Q4 '25 actual $0.48, miss Q1 '26 estimate $0.36 Q1 '26 actual $0.42, beat Q2 '26 estimate $0.47 Q2 '26 actual $0.46, match Q3 '26 estimate $0.83 Q4 '26 estimate $0.82 Q1 '27 estimate $0.86
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Analyst Consensus ?

ConsensusBuy40 ratings
Bullish3075.0%
Neutral1025.0%
Bearish00.0%

Analyst 52W Price Targets

$195.83Current
$60Low
$224.48Average
$350High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 22, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
StoneX Buy BuyMaintainSep 8, 2026
Wedbush Neutral NeutralMaintainAug 20, 2026
Roth Capital Neutral NeutralMaintainAug 10, 2026
Wells Fargo Equal Weight Equal WeightMaintainAug 7, 2026
Susquehanna Positive PositiveMaintainAug 7, 2026
Show 35 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $195.83. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
ScotiabankAnalyst unavailable$275$200.44 +40.4%Sep 9, 2026
UBSAnalyst unavailable$295$201.46 +50.6%Sep 8, 2026
WedbushAnalyst unavailable$220$220.66 +12.3%Aug 20, 2026
Roth CapitalAnalyst unavailable$220$212.56 +12.3%Aug 10, 2026
Wells FargoKen Gawrelski$225$213.26 +14.9%Aug 7, 2026
See 137 more

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Company context

Snapshot as of publication

DoorDash, Inc. operates a comprehensive logistics platform globally and within the United States, linking merchants, consumers, and delivery personnel ('dashers'). Through its primary marketplaces, DoorDash and Wolt, the company provides essential services designed to help merchants overcome critical challenges, including customer acquisition, delivery logistics, data insights and analytics, merchandising support, payment processing, and customer assistance. Additionally, DoorDash offers subscription-based products like DashPass and Wolt+, alongside white-label delivery fulfillment services under DoorDash Drive and Wolt Drive. Its portfolio also includes DoorDash Storefront, which enables merchants to provide on-demand e-commerce access to their customers, and Bbot, a solution offering digital ordering and payment processing for both in-store and online channels. Founded in 2013 as Palo Alto Delivery Inc., the company officially adopted the name DoorDash, Inc. in 2015. It is headquartered in San Francisco, California.

Historical context

All DASH earnings
+2.0%FY2026 Q1 · Calendar Q2 2026

Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-08-06T15:19:56.069123+00:00
  2. FN2 earnings calendar · 2026-09-10T01:23:13.706414+00:00
  3. Polygon adjusted daily market bars · 2026-09-22T15:00:55.029023+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-22T15:00:55.026467+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-09-22. For educational purposes only; not investment advice.