NEW YORK, December 29, 2025, 20:55 ET — Market closed
- DoorDash shares fell 1.2% to $231.01, extending a choppy year-end stretch for high-growth consumer internet stocks.
- An Evercore ISI note late Friday named DoorDash among top 2026 picks, arguing demand across online platforms has stayed resilient.
- Traders are looking to early-January U.S. data and DoorDash’s next earnings update for clues on 2026 spending and margins.
DoorDash (DASH.O) shares fell 1.2% on Monday to close at $231.01, underperforming a broadly weaker session on Wall Street as holiday-thinned trading drained momentum from growth stocks.
The move comes as investors try to square upbeat demand signals with a company that has warned it plans to spend more aggressively in 2026, a posture that can pressure near-term profits even when revenue keeps rising.
With only a few sessions left in 2025, money managers are also rebalancing portfolios and harvesting gains, a dynamic that can amplify swings in stocks with premium valuations and heavy retail interest.
U.S. stocks slipped to start the final week of the year, with the S&P 500 down 0.3%, the Nasdaq off 0.5% and the Dow down 0.5%, according to the Associated Press. 1
In a client note highlighted on Monday, Evercore ISI analyst Mark Mahaney named DoorDash among his top picks for 2026 and wrote that “most companies are experiencing robust consumer demand trends.” 2
DoorDash’s stock has remained sensitive to the company’s spending plans after a sharp selloff in early November, when investors balked at management’s intent to step up investment in 2026. 3
The company has argued that higher outlays are aimed at expanding its addressable market beyond restaurant delivery, even as Wall Street watches whether that push slows margin expansion.
In its most recent quarterly update, DoorDash said third-quarter total orders rose 21% to 776 million and Marketplace GOV rose 25% to $25.0 billion. Marketplace GOV is the total dollar value of orders placed through its platform. 4
On the same report, DoorDash forecast fourth-quarter Marketplace GOV of $28.9 billion to $29.5 billion and adjusted EBITDA of $710 million to $810 million. Adjusted EBITDA is a commonly used profit metric that excludes items such as interest, taxes, depreciation and amortization. 5
Competitive comparisons remain a key driver in the trade. Uber Technologies, which also runs a large delivery business, ended slightly higher on Monday, while Instacart parent Maplebear finished lower.
Before the next session, investors will turn to a fresh batch of early-January economic data that can move consumer and discretionary names, including DoorDash. The ISM’s manufacturing PMI report is released on the first business day of the month at 10:00 a.m. ET, and the U.S. jobs report for December is scheduled for Friday, Jan. 9 at 8:30 a.m. ET, according to the Bureau of Labor Statistics calendar. 6
Traders are also keeping an eye on monetary policy expectations ahead of the Federal Reserve’s next scheduled policy meeting on Jan. 27–28, per the Fed’s calendar. 7
DoorDash has not announced a date for its next earnings release, but Nasdaq’s earnings page currently shows an estimated report date of Feb. 10, 2026. Investors will be looking for any update on the size and timing of 2026 investments, along with trends in order growth, advertising and profitability. 8
On the chart, Monday’s session left traders watching the $230 area, near the day’s low of $230.14, as a near-term support level. A move back above $235, near the session high of $234.98, would be an early sign buyers are regaining control.
