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[DoorDash Kitchens location] Sundry Photography DoorDash (NASDAQ:DASH [https://seekingalpha.com/symbol/DASH]) is on the path to reach $4.5B in EBITDA in 2027, thanks to increased spending on advertising and the pending Deliveroo acquisition, Oppenheimer analyst Jason Helfstein wrote in Monday’s research note to clients, taking his price target up to $280, a 27% increase and 15% upside to Friday’s closing price. DoorDash (NASDAQ:DASH [https://seekingalpha.com/symbol/DASH]) can either flow through high-margin ad revenue and reinvest, or drive lower-margin grocery delivery to achieve the EBITDA target, Helfstein said, as both methods “represent different growth levers, but highlight flexibility gained from advertising.” Although not yet incorporated into Oppenheimer’s model, the Deliveroo acquisition – assuming gross order value (GOV) 2024-2027 CAGR +5% and EBITDA margins in line with DASH by 2027 -- represents 2027 EBITDA of $417M or 9% incremental to Oppenheimer’s current DASH estimates. The Deliveroo acquisition, along with Wolt, Caviar, and SevenRooms, “have increased both the horizontal and vertical scale of DASH, and the company has grown into multiple new geographies and categories as a result,” Seeking Alpha analyst PropNotes [https://seekingalpha.com/author/propnotes] writes. By consolidating the delivery market into only a few major players globally, “DASH stands to see continued growth, with lower accompanying operational unit costs,” PropNotes adds. For Helfstein, the improved environment coupled with strong third-party data resulted in increased FY25 order growth estimates and a bump in GOV estimates for FY25 and FY26.
DoorDash (NASDAQ:DASH [https://seekingalpha.com/symbol/DASH]) will report Q2 results [https://seekingalpha.com/symbol/DASH/earnings]during market hours on August 5, expected to show an adjusted profit of $1.07 per share on $3.16B in revenue. DoorDash (DASH [https://seekingalpha.com/symbol/DASH]) shares are up for a third straight day with another 4-year high. MORE ON DOORDASH * DoorDash: Time To Lock In Gains On Expansive M&A Deals And Potential Deceleration [https://seekingalpha.com/article/4798083-doordash-time-to-lock-gains-expansive-m-and-a-deals-potential-deceleration] * DoorDash Has All The Makings Of A Long-Term Compounder [https://seekingalpha.com/article/4791112-doordash-has-all-the-makings-of-a-long-term-compounder] * It's Time To Dine And Dash With DoorDash, Given High Valuation And Competitive Risks [https://seekingalpha.com/article/4790811-its-time-to-dine-and-dash-with-doordash-given-high-valuation-and-competitive-risks] * DoorDash and Flytrex begin drone delivery in Dallas-Ft Worth [https://seekingalpha.com/news/4462724-doordash-and-flytrex-begin-drone-delivery-in-dallas-ft-worth] * DoorDash's Deliveroo acquisition 'underappreciated' in stock price - Raymond James [https://seekingalpha.com/news/4461237-doordashs-deliveroo-acquisition-underappreciated-in-stock-price---raymond-james]
DoorDash could reach $4.5B EBITDA by 2027 -- Oppenheimer
July 01, 2025 04:18 AM AEST | By EODHD
