JMP Securities raised the firm’s price target on Instacart to $35 from $33 and keeps an Outperform rating on the shares. Instacart reported a beat and raise first quarter as a public company as Q3 GTV was slightly ahead of consensus, while revenue and EBITDA came in 4% and 35% above consensus as take rate outperformed consensus by ~30bps, 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>>
See today’s best-performing stocks on TipRanks >>
Read More on CART:
- Instacart (NASDAQ:CART) Stock: Should Investors Turn Cautious?
- Instacart reports Q3 EPS ($20.86), consensus ($12.97)
- Instacart Announces Third Quarter 2023 Financial Results
- Instacart’s FoodStorm and Sprouts Farmers Market partner for holiday catering
- Instacart, Geissler’s Supermarkets announce partnership