DoorDash Q4 Net Income Surges 51%, Citi Retains Buy with $280 Target
Citi analyst Ronald Josey lowered DoorDash’s target price by 1.1% to $280 while retaining a Buy and naming it the firm’s top internet sector pick after Q4. GAAP net income jumped 51.1% YoY to $213M on 37.7% revenue growth to $4.0B, and first-quarter MGOV guidance targets $31.0B-$31.8B.
1. Analyst Update
Citi analyst Ronald Josey trimmed DoorDash’s target price by 1.1% to $280 while maintaining a Buy rating and naming it the top pick in the internet sector, citing expectations that the company’s strong fourth-quarter performance will continue through 2026.
2. Fourth-Quarter Earnings
DoorDash reported GAAP attributable net income of $213 million, up 51.1% year-over-year, and GAAP EPS of $0.48, up 45.5%, driven by improved profitability across its platform.
3. Operational Growth
Revenue rose 37.7% to $4.0 billion as total orders climbed 31.8% to 903 million and monthly active users increased 33.3% to 56 million, while average basket size grew 5.9% to $32.9, fueling a 39.5% increase in marketplace gross order value to $29.7 billion.
4. First-Quarter Outlook
Management projects marketplace gross order value of $31.0 billion to $31.8 billion for the first quarter, with adjusted EBITDA expected between $675 million and $775 million.