BTIG analyst Jake Fuller lowered the firm’s price target on Instacart (CART) to $55 from $58 and keeps a Buy rating on the shares. Investors have been concerned regarding slowing business, with Instacart lapping Uber (UBER) and the firm’s own credit card data showing deceleration, but traffic data is “stable”, other third-party credit card data are positive, and the company’s management indicating that Uber remains accretive to growth, the analyst tells investors in a research note.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CART:
- These Are the Catalysts and Risks DoorDash Stock (DASH) Investors Need to Watch
- Seaport Research eCommece analysts hold analyst/industry conference call
- Instacart may see $65M annual cost headwind from NYC min. wage bill, says Wells
- Instacart Carrot Ads adopted by e-commerce platform Vroom Delivery
- Instacart, Morrisons partner on AI-powered smart trolleys