DoorDash E-Commerce Growth Picks Up: A Sign for More Upside?

DoorDash DASH is benefiting from the growing consumer demand for e-commerce and local delivery services, which has led to a significant uptick in its e-commerce growth.

The company is consistently investing in expanding its partner base to provide express grocery delivery for consumers, a new offering that further solidifies its position among other on-demand delivery platforms. Its focus on local commerce also positions it as a key player in the broader on-demand delivery ecosystem. This has boosted DoorDash’s total orders and marketplace GOV. 

In the third quarter of 2025, total orders increased 21% year over year to 776 million. Marketplace GOV increased 25% year over year to $25 billion, reflecting strong demand across platforms.

One of the major contributors to DoorDash’s e-commerce growth is its expansion into new verticals, such as grocery, convenience, alcohol, and retail. The company has been adding top grocers like Kroger and local grocery stores to its platform, solidifying its position as a leader in order volume and customer acquisition in the grocery delivery space.

DoorDash’s investments in autonomous delivery systems are expected to drive further e-commerce growth. In October 2025, DoorDash announced a partnership with Waymo to test an autonomous delivery service in Metro Phoenix. They also introduced a limited-time $10 Waymo ride promotion for DashPass members in Los Angeles, San Francisco, and Phoenix. The service will begin with DashMart deliveries and will expand later this year as part of DoorDash’s Autonomous Delivery Platform initiative.

DASH Faces Stiff 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 Amazon AMZN. As competition intensifies, companies like Uber Technologies and Amazon are seeking new ways to differentiate themselves and expand their market presence.

Uber Technologies is benefiting from the boom in its Delivery business. Uber Technologies’ delivery business performed well in the third quarter of 2025, with segmental revenues increasing 27% year over year on a constant-currency basis. Gross bookings from the Delivery segment in the September quarter rose 24% year over year on a constant-currency basis to $23.3 billion.

Amazon is expanding its footprint in on-demand delivery by integrating fresh groceries into its same-day delivery offerings.  Customers in more than 1,000 cities can now order perishable items like milk and eggs alongside electronics and household goods, all delivered within hours. This service by Amazon is set to reach 2,300 cities by the end of 2025, transforming how customers shop for everyday essentials.

DASH’s Share Price Performance, Valuation, and Estimates

DoorDash’s shares have risen 3.7% in the trailing six-month period, underperforming the Zacks Internet - Services industry’s rise of 74.7% and the broader Zacks Computer & Technology sector’s growth of 26.7%.

DASH Stock's Performance

DoorDash shares are currently overvalued, as suggested by its Value Score of F. In terms of the trailing 12-month Price/Book ratio, DASH is trading at 10.19, higher than the Internet - Services industry’s 7.88X.

DASH Valuation

For 2025, the Zacks Consensus Estimate for earnings is pegged at $2.23 per share, indicating a 1.32% decline over the past 30 days. The figure implies a year-over-year increase of 668.97%.

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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