03:40 PM EDT, 04/01/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:
We lift our 12-month target to $158 from $110 on a P/E of 40x our 2025 EPS view, above peers, reflecting financial strength (net cash of $4B) and higher growth. We lift our 2024 EPS to $2.75 from $2.71 and 2025's to $3.96 from $3.54. We upgrade our view on DASH due to our increased conviction in the company's accelerating growth trajectory across almost all of its business segments, driven by stickiness of its delivery ecosystem. We remain positive given high growth potential from subscription services (+18M members in 2023 vs. 15M in 2022) and expansion into grocery/retail/international boosting Marketplace GOV and orders (+22% GOV and +23% orders in Q4). We also see a positive secular trend emerging within the gig economy, thanks to ample supply of labor and rising consumer demand. DASH's asset-light business model is well positioned to capitalize on this trend. We see DASH reaching positive earnings by the end of 2024 as it continues to gain scale and leverage its platform's operational efficiencies.