Truist Keeps Buy Rating on DoorDash (DASH) Stock

Truist Securities restated its Buy rating and $230 price target for DoorDash, Inc. (NASDAQ:DASH) stock on May 29, 2025. The firm cites better-than-expected Q2 tracking data.

According to Truist’s analysis, DoorDash’s gross spend growth is outpacing Street expectations for the second quarter through May 24. Most crucially, the number of weekly active users (WAUs) is expanding faster than competitors during the April-May period.

A busy restaurant kitchen with a chef and staff rhythmically preparing food for delivery orders.

The firm attributes this positive momentum to DoorDash’s effective customer acquisition and retention strategies. Other factors include increased order frequency and higher average order values. The analysts find impressive the fact that DoorDash has achieved healthy operations despite challenging macroeconomic conditions.

Moreover, DoorDash’s financial health remains robust. According to Truist’s calculations, DoorDash’s revenue grew by 23.35% over the past twelve months. DoorDash has also doubled down on strategic expansion, the analysts found. The company recently announced agreements to acquire Deliveroo, a UK-based multinational online food delivery company, and SevenRooms, a hospitality technology provider. These acquisitions, Truist says, build on DoorDash’s strong Q1 2025 results, which saw total orders increase by 18% year-over-year to 732 million and Marketplace GOV rise 20% to $23.1 billion.

DoorDash, Inc. (NASDAQ:DASH) operates an online food ordering and food delivery platform. The platform connects consumers with restaurants, grocery stores, and convenience retailers across more than 30 countries. The company operates under brand names like DoorDash and Wolt. DoorDash provides services such as restaurant delivery, grocery delivery, and last-mile logistics.

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Disclosure: None.