Instacart price target raised to $44 from $42 at Macquarie

Macquarie raised the firm’s price target on Instacart to $44 from $42 and keeps an Outperform rating on the shares after Instacart beat on both the top and bottom lines in Q1. GTV growth accelerated to 11%, although Q2 guidance implies a step-down in GTV growth to 8% at the midpoint, the analyst noted.