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.
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