• Earlier this week, Hibbett, Inc. and DoorDash announced a nationwide partnership that adds roughly 1,000 Hibbett stores to the DoorDash Marketplace and DashPass, offering on-demand delivery of athletic footwear, apparel, and accessories across the United States.

• The deal both extends DoorDash’s reach into key Southeast and Southwest regions and strengthens the appeal of DashPass for higher-income and loyal users who increasingly rely on the membership for everyday retail orders.

• We’ll now examine how this expanded Hibbett retail footprint on DoorDash, and its integration into DashPass, shapes the company’s investment narrative.

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To own DoorDash, you have to believe the business can turn its food delivery scale into a broader local commerce platform, while justifying a very rich earnings multiple with sustained revenue and profit growth. The Hibbett partnership fits neatly into that story: about 1,000 additional athletic stores deepen DoorDash’s non-restaurant offering and add more value to DashPass, where higher-income and loyal users are already becoming more important. In the near term, this looks incremental rather than thesis-changing, especially against bigger catalysts such as upcoming Q4 2025 results, the planned 2026 investment cycle expected to cost hundreds of millions of US dollars, and progress expanding retail and grocery. Key watchpoints remain regulatory pressure on fees and tipping, the risk that heavy reinvestment dilutes returns on equity, and whether high expectations embedded in the valuation can be supported.

However, the regulatory overhang on pricing and tipping is something investors should not ignore. DoorDash’s shares have been on the rise but are still potentially undervalued. Find out how large the opportunity might be.

Thirteen fair value estimates from the Simply Wall St Community span roughly US$194 to over US$423 per share, showing how far apart individual views can be. Set against this, the push into retail partners like Hibbett, combined with rising regulatory scrutiny on tipping and fees, gives you very different ways to think about where DoorDash’s profitability might settle. You are seeing a market where people are clearly weighing growth ambitions against execution and policy risk, so it is worth comparing several viewpoints before making up your mind.

Explore 13 other fair value estimates on DoorDash – why the stock might be worth over 2x more than the current price!