Tuesday, March 19, 2024 5:03:41 PM
Investing.com
Stock Market News
2024-03-14
LINK
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
- Instacart to Report Second Quarter 2024 Financial Results on August 6, 2024 • PR Newswire (US) • 07/16/2024 01:25:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/15/2024 08:47:21 PM
- More ShopRites Adding Caper Carts Powered by Instacart • PR Newswire (US) • 06/27/2024 01:00:00 PM
- Price Chopper and McKeever's Introduce Instacart's Smart Carts • PR Newswire (US) • 06/25/2024 01:00:00 PM
- Sally Beauty and Instacart Announce Nationwide Partnership to Offer Same-Day Delivery • PR Newswire (US) • 06/18/2024 01:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/17/2024 08:03:50 PM
- INSTACART MAKES YOUTUBE ADS SHOPPABLE FOR CPG BRANDS • PR Newswire (US) • 06/17/2024 07:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/14/2024 08:05:46 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/12/2024 09:04:22 PM
- Rite Aid Expands Partnership with Instacart to Offer EBT SNAP Online Payment Option from more than 1,400 Locations • Business Wire • 06/12/2024 01:00:00 PM
- GME Volatile as Roaring Kitty Goes Live Today, Meta Unveils AI for WhatsApp Ads, and More • IH Market News • 06/07/2024 12:09:15 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/06/2024 01:02:22 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/04/2024 08:02:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 08:19:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 08:18:33 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 08:11:22 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 08:10:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 08:07:11 PM
- The Home Depot and Instacart Announce Nationwide Partnership to Offer Same-Day Delivery • PR Newswire (US) • 05/23/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 08:33:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 08:31:42 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/20/2024 08:37:37 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/20/2024 08:36:58 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/20/2024 08:36:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 08:13:55 PM
Peer To Peer Network aka Mobicard™ Launches AI Investor Chatbot Boosting Engagement & Lead Generation on Ihub • PTOP • Jul 15, 2024 8:30 AM
Greenlite Ventures Announces AI Integration into No Limit Platforms • GRNL • Jul 15, 2024 8:00 AM
Cannabix Technologies and Omega Laboratories Inc. Provide Positive Developments on Marijuana Breathalyzer Testing • BLO • Jul 11, 2024 8:21 AM
ECGI Holdings Enhances Board with Artificial Intelligence (AI) Expert Ahead of Allon Apparel Launch • ECGI • Jul 10, 2024 8:30 AM
Avant Technologies to Meet Unmet Needs in AI Industry While Addressing Sustainability Concerns • AVAI • Jul 10, 2024 8:00 AM
Panther Minerals Inc. Launches Investor Connect AI Chatbot for Enhanced Investor Engagement and Lead Generation • PURR • Jul 9, 2024 9:00 AM