Tuesday, March 19, 2024 5:03:41 PM
Investing.com
Stock Market News
2024-03-14
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Bernstein analysts made a tactical upgrade on Instacart (NASDAQ: CART ) stock from Market Perform to Outperform and lifted the target price to $43 from $30.
The move came following the delivery company’s Q4 print which offered “a more favorable view of the stock as we see room for Gross Transaction Value (“GTV”) growth to exceed consensus expectations,” the analysts wrote.
“CART is lapping the impact of EBT SNAP headwinds and the drag from its 2020/21 COVID cohorts is abating. Q1 guidance implies HSD to LDD GTV growth is feasible near-term, yet consensus has written off the possibility of >10%. “
The analysts noted that the current market consensus is projecting CART to maintain a GTV growth rate of 5-6% for the foreseeable future.
However, they believe that guidance provided in the second or third quarter could serve as a catalyst for positive revisions to GTV expectations.
With the stock currently valued at 10 times adjusted EBITDA, such an adjustment is seen as sufficient for the stock “to re-rate higher.”
I've never claimed to have all the answers but feel i'm beginning to corner the market in questions worthy of them.
Recent CART News
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- Uber Eats to Power Restaurant Delivery on Instacart • PR Newswire (US) • 05/07/2024 12:00:00 PM
- Uber Eats to Power Restaurant Delivery on Instacart • Business Wire • 05/07/2024 12:00:00 PM
- ROFDA Members Select Instacart for Retail Media Network • PR Newswire (US) • 05/06/2024 01:00:00 PM
- The Save Mart Companies Announces Expanded Partnership with Instacart • PR Newswire (US) • 05/01/2024 10:00:00 AM
- Instacart to Report First Quarter 2024 Financial Results on May 8, 2024 • PR Newswire (US) • 04/17/2024 01:25:00 PM
- INSTACART APPOINTS VICTORIA DOLAN TO BOARD OF DIRECTORS • PR Newswire (US) • 04/16/2024 01:15:00 PM
- PubMatic Announces Instacart Ads Integration to Leverage Retail Media Data Across CTV • GlobeNewswire Inc. • 04/03/2024 01:05:00 PM
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- Instacart and Associated Wholesale Grocers Expand Access to E-Commerce Solutions and Introduce Smart Carts to Local Independent Grocers • PR Newswire (US) • 03/25/2024 05:14:00 PM
- Maplebear Inc. d/b/a Instacart Securities Fraud Class Action Lawsuit Pending: Contact The Gross Law Firm Before March 25, 2024 to Discuss Your Rights - CART • PR Newswire (US) • 03/22/2024 09:45:00 AM
- Instacart Earns Media Rating Council Accreditation • PR Newswire (US) • 03/19/2024 01:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/11/2024 09:06:11 PM
- Investors in Maplebear Inc. d/b/a Instacart Should Contact The Gross Law Firm Before March 25, 2024 to Discuss Your Rights - CART • PR Newswire (US) • 03/11/2024 10:45:00 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/08/2024 11:47:03 PM
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- Instacart Announces New Group of Regional Grocers Using Instacart Storefront • PR Newswire (US) • 03/06/2024 02:00:00 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 03/05/2024 11:24:24 AM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 03/05/2024 11:10:45 AM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 03/05/2024 11:05:21 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/28/2024 12:55:19 AM
- Form SC 13D - General statement of acquisition of beneficial ownership • Edgar (US Regulatory) • 02/27/2024 11:06:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 01:04:13 AM
- Maplebear Inc. d/b/a Instacart Securities Fraud Class Action Lawsuit Pending: Contact The Gross Law Firm Before March 25, 2024 to Discuss Your Rights - CART • PR Newswire (US) • 02/22/2024 10:45:00 AM
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