Cramer dubs DoorDash stock a 'clear winner' despite weak Q4

Famed investor Jim Cramer says DoorDash Inc (NASDAQ: DASH) is a “clear winner” in the food delivery space, even though it fell short of Q4 estimates and offered disappointing guidance late on Feb. 19.

According to him, long-term investors should pivot from “quarterly noise” and focus on the firm’s broader vision of becoming a dominant, global e-commerce platform.

On Thursday, this “buy the dip” sentiment is prevailing more broadly as well – helping DoorDash stock reverse its after-hours losses and trade some 5% above its previous close.

Why Cramer remains bullish on DoorDash stock

In a recent segment of CNBC, Cramer called it the “fulcrum quarter” for DoorDash Inc, a pivotal moment where the company transitions from a period of doubt and decline into a sustained upward trajectory.

While critics worry about valuation, the former hedge fund manager argued DASH stock is actually “very inexpensive” to own relative to its current “growth rate and unit economics”.

According to him, this quarterly release represents the point where the business model has finally reached its full leverage, proving DoorDash is no longer just a delivery app – but a logistical power house with a permanent seat at the table.  

Deliveroo acquisition could drive DASH shares higher

A major piece of Cramer’s bull case centres on the “Deliveroo indicator”.

DASH’s expansion into London and other international markets through the Deliveroo acquisition was once viewed as a risky move that could trap capital in unstable regions.

However, the Mad Money host highlighted that international integration is now a “major turnabout” for the San Francisco-headquartered firm.

The acquisition has bolstered DoorDash’s global footprint, showing that its technology stack can thrive in diverse, competitive environments.

By successfully navigating the complexities of the UK market, DASH has demonstrated it can export its “perfect model” overseas, turning what was once a source of investor anxiety into a clear signal of global market-share gains and scalability.

This makes DoorDash shares significantly more attractive to own at current levels.

How to play DoorDash Inc after Q4 earnings

Perhaps the most insightful part of the turnaround was what Jim Cramer called “conference call clarity.”

The initial earnings release was intentionally “non-promotional,” focusing on the hard misses that spooked the algorithms.

However, during the conference call, management provided crucial details on the “cadence” of the business – showing that 30% of users are now ordering from non-restaurant categories like grocery and retail.

This shift in momentum – combined with CEO Tony Xu’s transparent roadmap for 2026 – flipped the narrative.

Cramer urged investors to “listen to the call,” noting that the qualitative data regarding consumer engagement and market penetration provided the real evidence that DASH shares are outgrowing competitors and tightening their grip on the market.