• In July 2026, Shopify Inc. announced that DoorDash Inc. is now available as a native sales channel in Shopify’s App Store for US brick-and-mortar merchants, while Hungry Howie’s Enterprises, LLC unveiled a phased collaboration with DoorDash Inc. to rebuild its digital ordering, loyalty, and delivery fulfillment platforms through DoorDash’s Commerce Platform.
• Together with DoorDash’s new dd-cli AI ordering interface and ongoing work in autonomous delivery, these partnerships show DoorDash embedding its technology deeper into merchants’ existing systems rather than relying solely on its consumer-facing app.
• We’ll now explore how DoorDash’s deeper integration into Shopify merchants’ workflows could influence the existing investment narrative around local commerce expansion.

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DoorDash Investment Narrative Recap

To own DoorDash today, you need to believe it can turn its broad local commerce footprint into durable, profitable transaction growth while managing rising costs, regulatory scrutiny, and operational complexity. The Shopify and Hungry Howie’s deals support the near term catalyst of deeper merchant integration, but do not remove the key risk that expanding into more categories and geographies could weigh on margins if execution or adoption stumbles.

The Shopify integration looks most relevant here, because it shows DoorDash plugging directly into merchants’ existing workflows instead of asking them to manage a separate channel. That fits the current catalyst around platform utility and partner stickiness, yet it also raises the bar on DoorDash to keep delivering reliable tools and support at scale, or risk weakening the very merchant relationships this integration is meant to strengthen.

But investors should also be aware that scaling this kind of embedded infrastructure across more merchants and verticals could...

DoorDash’s narrative projects $26.2 billion revenue and $3.3 billion earnings by 2029. This requires 21.2% yearly revenue growth and an earnings increase of about $2.4 billion from $926.0 million today.

Uncover how DoorDash's forecasts yield a $245.99 fair value, a 32% upside to its current price.

Exploring Other Perspectives

Some of the most optimistic analysts already expected DoorDash to reach about US$30.2 billion of revenue and US$4.6 billion of earnings by 2029, and this kind of news could either reinforce that bullish view of automation driven cost leverage or highlight the contrasting concern that expanding into retail and B2B software adds complexity without guaranteed payoff, which is exactly why it is worth comparing these very different narratives before you decide where you stand.

Explore 10 other fair value estimates on DoorDash - why the stock might be worth over 2x more than the current price!

Decide For Yourself

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your DoorDash research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.
• Our free DoorDash research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate DoorDash's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.