Wedbush lowered the firm’s price target on Instacart (CART) to $40 from $42 and keeps an Underperform rating on the shares. Wedbush told investors that, in the near-term, the firm is monitoring softer pricing dynamics, reflecting a mix of higher restaurant orders and a lower order threshold for $0 delivery fees, as well as a rising mix of revenues from advertising and the company’s enterprise offering. Wedbush added that near-term estimates remain unchanged, while the firm lowered its expectations in the outer years of its forecast.
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