DASH DoorDash, Inc.

BULLISH Impact: 3/10 ANALYST-UPGRADE
Processed 1mo ago SEC analyst-DASH-tdcowen-20260427
TD Cowen initiates coverage on DASH at Buy
Latest settled — T+20d
DASH ▼ -11.52% at T+20d
LONG call ✗ call lost -11.52% · α vs SPY -16.48% · entry $174.06 → $154.00
Next anchor: T+60d in 6w
Last close $152.49 (close Jun 8) · -12.39% from $174.06 entry
Entry anchored
Apr 27, 01:17 PM ET
via Databento tick
T+1d
-1.20%
call -1.20% · α -0.72%
$171.97
settled 6w ago
T+5d
-0.86%
call -0.86% · α -1.26%
$172.57
settled 5w ago
T+20d
-11.52%
call -11.52% · α -16.48%
$154.00
settled 15d ago
T+60d
call — · α —
in 6w

Price Chart

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Executive Summary

TD Cowen initiated coverage on DoorDash (DASH) at Buy with a $225 price target, implying 27% upside from the current $176.78. The firm has a 56% accuracy rate on 1,800 calls with an average return of 3.4%, placing it mid-tier among covering analysts. The broader consensus is heavily bullish: 77% of 53 analysts rate it Buy, with a mean target of $251.55 and median of $255, giving 42% upside to the mean. TD Cowen's $225 target is below both consensus mean and median, reflecting a more cautious stance. Over the past 30 days, analyst activity has been one upgrade (this initiation) with zero downgrades, but EPS estimates have seen 6 downward revisions for the current year and 5 for next quarter, though recent 7-day data shows 1 upward revision for the current quarter. Cross-platform signals diverge: insider sales total over $1.4M in the past month (including top officers), while institutional moves show both exits (Two Sigma -99.7%) and new entries (Norges Bank $1.09B, FMR +62.5%). Short interest stands at 59.4% of float. With earnings due May 4 (within 7 days), the bullish initiation supports the positive consensus trend but the conservative target and mixed cross-platform data warrant caution.

Impact Score

Base Score
2/7
LLM Adjustment
+1
Final Score
3/10

Consensus & Targets

Buy / Strong Buy
41 (77%)
Hold
12
Sell / Strong Sell
0
Total Analysts
42
Mean PT
$251.55
Median PT
$255.00
High PT
$340.00
Low PT
$185.00
Current Price
$176.78
Implied Upside
+42.3%

Of 53 analysts covering DASH: 15 Strong Buy, 26 Buy, 12 Hold, 0 Sell, 0 Strong Sell. That is 77% Buy-side, zero Sell-side. Consensus direction is decisively bullish.

Mean price target is $251.55, median $255. High $340 (27 analysts above $250), low $185. Current price $176.78 implies 42% upside to the mean and 44% to the median. TD Cowen's $225 is 11% below the mean and 12% below the median, indicating a more conservative forecast.

Recent Analyst Activity

DateFirmActionRatingPrice Target
2026-04-27 TD Cowen initiate Buy $225.00
2026-04-13 Stifel maintain Hold $185.00
2026-04-10 BTIG maintain Buy $280.00
2026-03-30 Wells Fargo maintain Equal-Weight $198.00
2026-03-03 Mizuho maintain Outperform $255.00
2026-02-20 Citigroup maintain Buy $280.00
2026-02-20 Citizens maintain Market Outperform $250.00
2026-02-19 UBS maintain Neutral $240.00
2026-02-19 Benchmark maintain Buy $285.00
2026-02-19 Bernstein maintain Outperform $270.00

In the last 30 days, DASH has had 1 upgrade (this initiation) and 0 downgrades. EPS revisions over 30 days show 6 downwards for the current fiscal year (EPS30dAgo $2.564 vs current $2.540) and 5 for next quarter, but the current quarter has seen 1 upward and 1 downward in the recent week, while next year saw 3 upward and 4 downward. Net bias is slightly negative but stabilizing.

Firm Track Record — TD Cowen

TD Cowen accuracy: 56% on 1800 calls | avg return: 3.4%

Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 15 firms with ≥5 scored calls.

FirmAccuracyCallsAvg Returnvs Average
Keybanc 75% 6/8 12.9% top tier
JMP Securities 69% 9/13 10.3% top tier
Roth MKM 67% 2/3 9.9% top tier
Loop Capital 67% 2/3 0.8% top tier
Raymond James 67% 2/3 -0.1% top tier
Citigroup 67% 2/3 2.6% top tier
Morgan Stanley 67% 4/6 5.2% top tier
Cantor Fitzgerald 64% 7/11 13.6% top tier
BMO Capital 60% 3/5 5.4% above average
DA Davidson 60% 3/5 13.2% above average

TD Cowen has a 56% accuracy rate on 1,800 analyst calls with an average return of 3.4%. Among firms covering DASH, the top performers are Keybanc (75% on 8 calls, +12.9% avg return), JMP Securities (69%, +10.3%), and Cantor Fitzgerald (64%, +13.6%). TD Cowen's metrics are in the middle of the pack compared to the 15 tracked firms.

Earnings Estimates

Next earnings: May 4, 2026

PeriodEPS Est.EPS RangeRevenueRevisions (7d)
0y $2.54 $1.92 — $3.48 $17.8B ↑0 ↓0
+1q $0.47 $0.27 — $0.77 $4.4B ↑0 ↓0
0q $0.36 $0.24 — $0.52 $4.1B ↑1 ↓0
+1y $4.41 $3.03 — $5.85 $21.3B ↑1 ↓0

Cross-Platform Signals

Insider Trades (90d)
0 buys / 5 sells
Congressional
Gilbert Cisneros (democrat) — buy $1,001 - $15,000
Congressional
Gilbert Cisneros (democrat) — buy $1,001 - $15,000
Congressional
Gilbert Cisneros (democrat) — sell $1,001 - $15,000
Institutional
TWO SIGMA INVESTMENTS, LP — near_exit (-99.7%)
Institutional
BANK OF AMERICA CORP /DE/ — trim (-29.3%)
Institutional
NORGES BANK — new
Short Interest
Short: 1,100,667 | Exempt: 439 | TRF Vol: 1,852,385 | Short Ratio: 59.4% | Off-exchange volume (dark pool + OTC)

Insider trading: 5 sells in the last 30 days — Prabir Adarkar ($908k on 3/23 and $29k on 4/20), Shona Brown ($219k on 4/15), Stanley Tang ($254k and $35k). Congressional: Rep. Gilbert Cisneros made mixed buys and sells (3 buys, 2 sells) between Feb-Apr, all small amounts. Institutional: Two Sigma near-exit (-99.7% of $364M), BofA trimmed -29.3% of $660M, Renaissance trimmed -32.4% of $300M; Norges Bank new $1.09B, FMR added +62.5% to $1B. Short interest is 59.4% (1.1M shares). The analyst bullish signal diverges from insider selling and high short interest, but large institutional buys provide some convergence.

Actionable Insight

TD Cowen's initiation reinforces the bullish analyst consensus, but its below-consensus target and persistent insider selling argue for a tempered approach. With earnings on May 4, traders should consider the positive rating as a tailwind but hedge against the high short interest and earnings risk.

Documents Analyzed

Report based on filing metadata.

16 reports for DASH
Performance horizon
83% Hit rate 5 of 6 directional calls best @ T+20▲ +16.10%Feb 28, 2026
Filters
Rows
Reports for DASH — sortable, filterable
Type Now
Jun 8, 2026
1d ago
Insider Cluster
NEUTRAL ★ 3/10
$152.47 awaiting T+5awaiting T+5$152.49 (+0.01%)
May 31, 2026
9d ago
ANALYST-UPGRADE
BULLISH ★ 2/10
$202.32 $195.98▼ −3.13%▼ −5.79%$152.49 (−24.63%)
May 27, 2026
13d ago
ANALYST-UPGRADE
BULLISH ★ 2/10
$174.06 $172.57▼ −0.86%▼ −1.26%$152.49 (−12.39%)
May 22, 2026
18d ago
Insider Cluster
NEUTRAL ★ 2/10
$154.00 $164.78▲ +7.00%▲ +5.92%$152.49 (−0.98%)
May 6, 2026
4w ago
10-K/A
NEUTRAL ★ 2/10
$171.35 $149.07▼ −13.00%▼ −14.51%$152.49 (−11.01%)
May 1, 2026
5w ago
ANALYST-UPGRADE
BULLISH ★ 4/10
$202.32 $195.98▼ −3.13%▼ −5.79%$152.49 (−24.63%)
Apr 27, 2026
6w ago
ANALYST-UPGRADE
BULLISH ★ 3/10
$174.06 $172.57▼ −0.86%▼ −1.26%$152.49 (−12.39%)
Apr 20, 2026
7w ago
DEFA14A
NEUTRAL ★ 3/10
$182.45 $171.97▼ −5.74%▼ −6.83%$152.49 (−16.42%)
Apr 15, 2026
7w ago
144
NEUTRAL ★ 3/10
$179.33 $177.00▼ −1.30%▼ −2.28%$152.49 (−14.97%)
Feb 28, 2026
14w ago
Institutional Cluster
BEARISH ★ 7/10
$176.41 $176.59▼ −0.10%▼ −1.31%$152.49 (+13.56%)
Showing 10 of 16

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