DoorDash 3Q 2026: Revenue $4.62B, Net income $466M, EPS $1.06— 10-Q Summary

DoorDash (DASH) reported record Q3 revenue and profit, and agreed to buy Instacart (CART) for $17B. Bank of America cut its price target to $257 (44% upside) but maintained a Buy rating. The stock is down 33% year-over-year, trading at 25x forward earnings, its lowest in five years.

DoorDash agreed to acquire Instacart for $17 billion, subject to regulatory approval. The companies stated the deal would create a larger platform for advertisers, offering cross-selling opportunities and a broader reach.

Wedbush upgraded DoorDash (DASH) to 'Outperform' and raised its price target to $230, citing strong Q3 results and the Instacart acquisition. Wells Fargo lowered its target to $200, noting mixed views on the deal. Both stocks saw high retail sentiment, with DASH down 22% and CART up 22% year-to-date.

DoorDash (DASH) will acquire Instacart (INST) in a $17 billion deal, valuing Instacart shares at $65 each. The merger aims to combine DoorDash's restaurant delivery network with Instacart's grocery services, potentially improving delivery speed and affordability. The FTC may scrutinize the deal due to concerns over competition and consumer costs.

DoorDash reported that AI agents placed only several hundred orders since launch, despite the company handling 993 million orders in Q3. CEO Tony Xu noted this represents a 'fairly low use case.' DoorDash's Q3 revenue rose 34% to $4.6 billion, with Q4 projections of $35.4B-$36.4B in GOV and $900M-$1.1B in adjusted EBITDA. The company's stock closed at $179.00, up 5.61%, and reached $181.26 after hours, up 1.26%.

DoorDash is acquiring Instacart for $17 billion, combining two major delivery platforms. The deal expands DoorDash's market reach to nearly 150,000 stores. DoorDash shares rose 9% in premarket trading. The acquisition follows a $131.5 million settlement for underpaying workers.