This fund manager loves DoorDash

Scotia Wealth Management portfolio manager Stan Wong said on BNN Bloomberg’s Market Call on Oct. 9 that DoorDash (DoorDash Stock Quote, Chart, News, Analysts, Financials NASDAQ:DASH) remains a leader in the growing “convenience and last-mile logistics” sector and continues to expand beyond its restaurant delivery roots.

“DoorDash controls about 65% of the U.S. food delivery market,” Wong said. “They’re evolving into a broader commerce platform, moving into groceries, convenience, and retail delivery.”

He highlighted the company’s DashPass loyalty program as a major driver of customer retention and order frequency.

“You’re paying a fee for this pass, and you’re going to use it more and more often,” he said, adding that margins and profitability are improving, aided by AI-based enhancements that optimize order flow and efficiency.

“DoorDash is really one of those evolving names in the theme of convenience and last-mile logistics,” Wong said. “People want things to come to them, they don’t want to walk a few blocks to get to a restaurant.”

He acknowledged rising competition from Uber and Walmart but said the company’s market leadership and scale allow it to “keep investing in infrastructure and AI to stay ahead.”

Wong noted that DoorDash is expected to generate about US$16-billion in revenue in fiscal 2026, with earnings growth forecast at 30–35% annually.

“The market isn’t static, it’s expanding, and that leaves room for multiple players to grow,” he said.

DoorDash shares have gained 93.3% over the past year and 171.6% over the past five years. Of the analysts covering the stock, 32 rate it ‘Buy,’ 11 ‘Hold,’ and one ‘Sell,’ with a consensus target price of US$298.89.

The stock closed Oct. 15 at US$272.61.

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