NEW YORK, Feb 19, 2026, 10:56 EST — Regular session
- DoorDash climbed roughly 3% early after the company projected first-quarter order values topping analyst expectations.
- Profit guidance missed forecasts, with the company pouring more cash into revamping its tech stack across several brands.
- Investors are eyeing grocery and retail to see if momentum there can make up for rising costs and intensifying competition.
DoorDash stock jumped roughly 3% to $178.87 on Thursday. The delivery company forecasted first-quarter marketplace gross order value (GOV) above analysts’ expectations, giving investors some relief despite a weaker profit outlook linked to increased spending. GOV refers to the total dollar value of all orders placed on the platform. (Reuters)
This pop in the stock isn’t really about the last quarter—it’s all about whether shoppers will stick with paying for convenience as their wallets feel the squeeze. “DoorDash’s ability to continue drawing in new customers and encourage existing customers to order more frequently shows that the platform’s convenience proposition is resonating strongly,” eMarketer analyst Rachel Wolff said. (Reuters)
This comes as delivery players intensify their focus on groceries and retail, industries known for higher repeat orders—though the buzz around promos and tie-ups is only growing. DoorDash earlier jumped to $197.40, then trimmed some of that advance.
DoorDash is projecting first-quarter marketplace GOV between $31 billion and $31.8 billion, topping the $29.61 billion LSEG consensus. But the company’s adjusted EBITDA guidance—$675 million to $775 million—lands short of the $798.22 million analysts were looking for. Adjusted EBITDA excludes interest, taxes, depreciation, and amortization. (Reuters)
RBC Capital Markets analysts pointed to a solid fourth quarter for U.S. grocery and retail, noting DoorDash saw its highest-ever influx of new consumers in that stretch. Bernstein’s Nikhil Devnani described the company’s renewed push on spending as “in the company’s DNA,” though the ramp-up has stirred some debate. (Reuters)
DoorDash reported 903 million total orders for the fourth quarter, up 32%. Marketplace GOV was $29.7 billion, a 39% jump. Revenue landed at $4.0 billion, up 38%, and net income came in at $213 million. (DoorDash)
The company’s tech overhaul, slated for 2026, will fold DoorDash, Wolt, Deliveroo and other brands together on one platform. Executives expect short-term margin pressure from the move.
DoorDash’s filings page lists an annual 10-K, an 8-K from Feb. 18, plus an S-8 registration statement, all filed, according to the company. (DoorDash)
DoorDash said its board cleared a share buyback plan of up to $5 billion back in February 2025, but as of Feb. 17, 2026, the company hadn’t used the authorization to repurchase any shares. (DoorDash)
DoorDash keeps steering investors toward grocery and retail as its next growth engines. The company said it took the top spot among third-party marketplaces for U.S. grocery and retail order volume in 2025, referencing third-party data. It also flagged new grocery partners along with other retail additions. (DoorDash)
The bear case isn’t complicated: tech and marketing spending could stay elevated, outlasting forecasts, especially if competitors such as Uber Eats and Instacart keep dialing up promos and signing exclusives. Should consumers start to cut back, order volumes could flatten fast—leaving those lofty valuations tough to justify.
Traders want to see if DoorDash sticks to its GOV and adjusted EBITDA targets for the quarter ending March 31. They’ll also be listening for any specifics from management on exactly how big the 2026 tech overhaul might be, and when it’s expected to roll out.
