DASH's Total Orders Growth Momentum Continues: A Sign of More Upside?

DoorDash DASH is benefiting from a large customer base and strong growth in average consumer engagement, which has enhanced its order volume. In the second quarter of 2025, total orders increased 20% year over year to 761 million. The figure beat the Zacks Consensus Estimate by 1.36%.

The company’s diversification into new verticals, such as grocery, retail, and convenience, has been a major driver of total orders. These categories are growing faster than the core restaurant business. By diversifying its offerings, DoorDash is capturing a larger share of consumer spending, further boosting total orders and revenue.

Growth in Total Orders was also driven by an increase in monthly active users and the expansion of membership programs like DashPass and Wolt+. These programs have contributed to higher average order frequency, which reached an all-time high in the second quarter of 2025.

The U.S. marketplace, in particular, showed notable strength, with the restaurant category playing a key role in driving order volume. 

Internationally, total orders grew at an even faster pace than in the United States, highlighting the success of DoorDash’s global expansion strategy. The addition of new Wolt+ members in the second quarter of 2025 further boosted order frequency in international markets.

DoorDash Faces Rising Competition

DoorDash is constantly battling for market share with other local food delivery logistics platforms such as Uber Technologies UBER, online delivery platform Uber Eats, and Grubhub JTKWY. As competition intensifies, companies are seeking new ways to differentiate themselves and expand their market presence.

In July 2025, Grubhub partnered with Wyndham Hotels & Resorts to offer guests and team members $0 delivery fees and other perks. The program, available at nearly 6,000 U.S. hotels, lets users scan a QR code or open the Grubhub app to order. Participants can activate a free six-month Grubhub+ membership with benefits like reduced service fees and 5% credit back on pickup orders.

Uber Technologies is benefiting from the boom in its Delivery business. In a customer-friendly move, UBER inked a deal with value retailer Five Below, which makes customers of Five Below eligible to use the Uber Eats app for placing orders for delivery from more than 1,500 stores of the discount retailer. The delivery will be made directly to their doorsteps. This indicates the customer-friendly nature of the deal. Uber Eats is the online food ordering and delivery platform of Uber Technologies.

DASH’s Share Price Performance, Valuation, and Estimates

DoorDash’s shares have rallied 51.1% in the year-to-date period, significantly outperforming the Zacks Internet - Services industry’s rise of 9.1% and the broader Zacks Computer & Technology sector’s growth of 13.8%.

DASH Stock's Performance

DoorDash shares are currently overvalued, as suggested by its Value Score of F.  In terms of the forward 12-month Price/Sales ratio, DASH is trading at 7.30, higher than its median of 5.87 and the industry’s 5.49.

Price/Sales (F12M)

For 2025, the Zacks Consensus Estimate for earnings is pegged at $2.39 per share, indicating a 10.6% increase over the past 30 days. The figure implies a year-over-year increase of 724.14%.

DoorDash, Inc. Price and Consensus

DoorDash, Inc. price-consensus-chart | DoorDash, Inc. Quote

DoorDash currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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