DoorDash, Inc. logo DASH - DoorDash, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
1
BUY 28
HOLD 9
SELL 0
STRONG
SELL
0
| PRICE TARGET: $248.59 DETAILS
HIGH: $350.00
LOW: $190.00
MEDIAN: $237.50
CONSENSUS: $248.59
UPSIDE: 33.39%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Platform & Compounding FCF 85% confidence

Primary model: Two-stage FCF DCF

Valuation Signal Overvalued Mild
Trading 12.7% above fair value
Current Price $186.36
Bear Case $94.82 49.1% downside ($94.82 - $186.36) / $186.36 = -49.1% 12% stage 1 growth, 12% discount
Fair Value $165.42 11.2% downside ($165.42 - $186.36) / $186.36 = -11.2% 20% stage 1 growth, 12% discount
Bull Case $253.48 36.0% upside ($253.48 - $186.36) / $186.36 = 36.0% 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 57.0x
Market is pricing in (growth) 25.1% 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 $248.59 from 38 analysts, using a 30% weight on analyst consensus. That produces an estimated intrinsic value of $165.42 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 $248.59 (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