DoorDash target raised, removed from ‘Tactical Outperform’ list at Evercore ISI

Evercore ISI analyst Mark Mahaney raised the firm’s price target on DoorDash to $145 from $120 and keeps an Outperform rating on the shares following what the firm calls “a Modest Beat and Bracket Q4 print.” Gross Order Value, or GOV, came in 2% above the firm’s and Street view while revenue came in 3% above expectations, the analyst noted. FY24 is “very likely to mark a profitability inflection year,” with GAAP operating and net income both likely to turn positive for the first time, the analyst added. In addition, the firm is removing the stock from its “Tactical Outperform” list.