New York, Feb 11, 2026, 15:32 EST
DoorDash Inc shares fell more than 5% on Wednesday, extending a recent pullback as investors weighed fresh commentary on the delivery company’s valuation ahead of next week’s earnings. The stock was down 5.3% at $175.87 by 3:17 p.m. EST after opening at $185.64.
The stakes are higher than usual because DoorDash is due to report results on Feb. 18, with investors looking for signs that order demand and margins can hold up even as growth spending continues. (DoorDash)
The broader backdrop has not helped. U.S. retail sales unexpectedly stalled in December, a flat reading versus forecasts for a 0.4% rise, Reuters reported on Tuesday, keeping the market on edge ahead of more economic data. Mark Luschini, chief investment strategist at Janney Montgomery Scott, called the retail data “bad news is good news,” but added “nobody wants to get too far above their risk budget” going into the delayed U.S. payrolls report. (Reuters)
Benzinga pointed to DoorDash’s trailing price-to-earnings ratio — the P/E, a shorthand for how much investors pay for each dollar of profit — at 93.76, versus an industry average of 50.21. The stock is down 16.23% over the past month, Benzinga said, after a longer stretch of pressure. (Benzinga)
A valuation note carried by Yahoo Finance on Wednesday also flagged negative returns over the past week, month and three months, despite “reported increases in revenue and net income,” and described the multiple as rich. (Yahoo Finance)
Another Simply Wall St analysis on Wednesday pointed to a wide gap between DoorDash’s share price and a consensus target of about $275.76, while also flagging recent weak momentum. It also compared DoorDash’s P/E of 92.7 with a hospitality industry average of 21.8, underscoring how much the stock’s price still leans on upbeat growth assumptions. (Simply Wall St)
DoorDash competes for delivery orders with Uber Technologies’ Eats unit and grocery runner Instacart, and the sector has drawn scrutiny over fees and worker pay. A federal judge in New York last month rejected DoorDash and Uber’s bid to block new city tipping laws that require delivery apps to offer customers the option to tip at checkout, including a suggested minimum 10% tip. (Reuters)
In a commentary piece on TMAStreet, the stock’s recent dip was framed as investors bracing for earnings with demand signals and cost discipline under the microscope. (TMAStreet)
But a stock trading on a rich multiple has less cushion if customers cut back, promotions rise, or spending on new products and technology drags on profit. Any surprise on costs — including changes tied to worker-pay and tipping rules in big cities — could push expectations around again.
For now, DoorDash is heading into Feb. 18 with its valuation debate back in the open and a market still taking its cues from consumer data.
