On August 6, 2026, Citigroup reiterated its Buy rating on DoorDash (NASDAQ: DASH) and increased its price target to $255.00. DoorDash is a technology company that connects people with local businesses. It primarily offers delivery services for restaurants, convenience stores, and grocery stores in a competitive market.
This optimistic rating follows the release of strong second-quarter 2026 results. The company reported accelerating growth in its core restaurant business and achieved a record number of monthly active users (MAUs). This shows that more customers are using the platform more frequently, which is a key driver of revenue.
Growth is also supported by its DashPass subscription program, which hit a record number of members. This leads to more frequent orders and higher gross profit for DoorDash. The company's international operations, including its work with Deliveroo, are also showing faster growth and improved unit economics, which is the profit or loss on each order.
Looking ahead, DoorDash is making progress in new areas like grocery delivery, with a clear path to achieving gross profit positivity by year-end. As highlighted by Reuters, the company also projects its third-quarter gross order value (GOV), the total value of all orders, will exceed Wall Street estimates.
At the time of the rating, the stock price for DoorDash was $207.27. Citigroup's new price target of $255.00 represents a potential upside from that level. The company has a market capitalization of about $90.31 billion, and its stock has traded between $143.30 and $285.50 over the past 52 weeks.
