Needham delivers Instacart (CART) an upgrade to begin the week. The firm raised CART to a Buy rating and announced a $56 price target.
Shares of Instacart rose Wednesday on the news that the food-delivery stock will join a new index.
Shares of Maplebear Inc (NASDAQ:CART), otherwise known as Instacart, are up 3.8% to trade at $44.54 at last glance.
Pet Valu's recent collaboration with Instacart could significantly enhance its competitive position against retail giants like Walmart and Loblaw. While sales growth continues to be anemic, Pet Valu's growth should improve if the Canadian economy reaccelerates. Trading at a discount to Canadian retail peers, I believe it's time to start accumulating shares.
Explore the exciting world of Instacart (CART 4.39%) with our expert analysts in this Motley Fool Scoreboard episode. Check out the video below to gain valuable insights into market trends and potential investment opportunities!
Here is how Maplebear (CART) and Brinker International (EAT) have performed compared to their sector so far this year.
Instacart is joining Uber in an attempt to block a new ordinance in Seattle that regulates how companies can deactivate workers who deliver food, shop for groceries, and complete other tasks via on-demand apps.
Here is how Maplebear (CART) and Brinker International (EAT) have performed compared to their sector so far this year.
Lee Horowitz, Deutsche Bank co-head of internet equity research, joins CNBC's 'The Exchange' to discuss Deutsche's hold rating on Instacart despite shares surging this year.
Deutsche Bank initiated coverage of Instacart with a Hold rating and $37 price target. While Instacart deserves an "immense amount of credit" for building itself into a large and profitable grocery delivery platform, the company's fundamentals will be challenged over the next 12-24 months, the analyst tells investors in a research note. The firm believes Instacart's digital grocery share gains are likely to remain muted given affordability challenges. It also expects first-party competitors like Walmart (WMT) and Amazon (AMZN) as well as marketplace competitors like DoorDash (DASH) and Under (UBER) have more flexibility to address affordability challenges and thus drive greater share relative to Instacart.
Here is how Maplebear (CART) and Brinker International (EAT) have performed compared to their sector so far this year.
Maplebear Inc. NASDAQ: CART is best known as Instacart, the world's largest online grocery marketplace with a network exceeding 80,000 stores. While you may have believed it was just a food delivery app like DoorDash Inc. NASDAQ: DASH or Uber Eats (owned by Uber Technologies Inc. NYSE: UBER), it's evolved into much more.