DoorDash appears to have spent at least $600 million last year on new verticals and international business, while maintaining healthy core profitability, JMP Securities analysts say in a research note. They started sifting through the company’s disclosures in recent years to break out the contributions of the core U.S. restaurants business and other operations and say $1.8 billion in EBITDA is achievable in 2024 with a potential $2.6 billion in 2025. Both estimates are above the FactSet consensus. “With better visibility into core economics, we raise our DoorDash price target to $160 from $130 prior,” the analysts add. DoorDash is off 1% to $138.84