BTIG sees slight deceleration for Instacart in grocery delivery

BTIG keeps a Neutral rating on Instacart with no price target. The analyst states that while the firm is seeing solid trends in restaurant delivery with quarter-to-date growth stable, its tracking suggests “slight deceleration” from the “already modest” levels for Instacart in the grocery category. Based on what BTIG sees quarter-to-date, its bias would be to the low-end of the 5%-6% GOV growth guide, the analyst tells investors in a research note.