14 Best Multibagger Stocks to Buy According to Hedge Funds

5. DoorDash, Inc. (NASDAQ:DASH)

Number of Hedge Funds: 81

1Y Return: 139%

DoorDash is one of the best multibagger stocks according to hedge funds. On July 21, 2025, Morgan Stanley analyst Brian Nowak raised his price target on DoorDash from $220 to $275, maintaining an “Overweight” rating.

In his note, Nowak cited confidence in DoorDash’s long‑term growth potential, particularly driven by expansion into restaurant operations and local commerce via its Deliveroo acquisition, as well as accelerating gross order value growth. He maintained that DoorDash’s leadership in U.S. restaurant delivery and momentum in emerging categories supported the revised outlook.

Also on July 21, Raymond James reaffirmed a Buy rating, raising its target from $260 to $275, based on increasing optimism around DoorDash’s businesses beyond core delivery, including grocery, convenience, and advertising revenue streams.

And on July 17, Benchmark analyst Mark Zgutowicz maintained a “Buy” rating and raised his target from $225 to $260, citing positive outlook on DoorDash’s expanding market share and growth potential across newer verticals like DashPass, advertising, and grocery delivery.

DoorDash, Inc. (NASDAQ:DASH) is a San Francisco–based technology company operating a leading online food delivery and convenience platform in the U.S., now expanding globally and monetizing through delivery fees, subscriptions, advertising, and grocery services.