DoorDash, Inc. logo DASH - DoorDash, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
1
BUY 28
HOLD 9
SELL 0
STRONG
SELL
0
| PRICE TARGET: $249.96 DETAILS
HIGH: $350.00
LOW: $190.00
MEDIAN: $240.00
CONSENSUS: $249.96
UPSIDE: 29.73%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Platform & Compounding FCF 85% confidence

Primary model: Two-stage FCF DCF

Valuation Signal Overvalued Moderate
Trading 16.2% above fair value
Current Price $192.67
Bear Case $95.06 50.7% downside ($95.06 - $192.67) / $192.67 = -50.7% 12% stage 1 growth, 12% discount
Fair Value $165.83 13.9% downside ($165.83 - $192.67) / $192.67 = -13.9% 20% stage 1 growth, 12% discount
Bull Case $254.11 31.9% upside ($254.11 - $192.67) / $192.67 = 31.9% 26% stage 1 growth, 12% discount

Adjust Assumptions

20.0%
12.0%
3.0%

Key Value Driver

FCF growth rate (20% base case)

Terminal Value % of EV 42%
Implied Market Multiple 59.0x
Market is pricing in (growth) 25.6% vs our 20.0% base

Plain-Language Summary

Our base-case estimate uses a two-stage discounted cash flow model based on free cash flow. We then blend that result with the average analyst price target of $249.96 from 38 analysts, using a 30% weight on analyst consensus. That produces an estimated intrinsic value of $165.83 per share.

Warnings

Stock-based employee pay equals 112% of profits. This dilutes existing shareholders, so cash flow alone overstates what owners really earn.
Wall Street's average price target is $249.96 (from 38 analysts). Our estimate is 48% below the consensus -- consider that gap carefully.

Key Risks

  • P/E alone misleads — earnings depressed by growth investment
  • Cyclical or commodity businesses may be misclassified as platforms
  • Terminal value dominance suggests sensitivity to long-run assumptions