Northland upgrades 1stDibs on ‘inflection point’ post Q4 report

Northland upgraded 1stDibs (DIBS) to Outperform from Market Perform with an unchanged price target of $7. The firm believes the company’s Q4 results and Q1 outlook “will prove to be an inflection point in the story.” The quarter marked 1stDibs’ first adjusted EBITDA profitable quarter since its 2021 initial public offering, the analyst tells investors in a research note. Northland has increased confidence that the company’s internal efforts can drive a return to growth. It sees a “more compelling setup” following the post-earnings selloff.