Citizens JMP Reiterates Market Outperform Rating on Instacart (CART)

Citizens JMP analyst Andrew Boone reiterated a Market Outperform rating and $55.00 price target on Instacart (NASDAQ: CART).

The analyst commented, “While we acknowledge the greater competition facing Instacart for digital grocery share by verticalized eCommerce merchants like Walmart (WMT, NC), grocery is a $700B+ U.S. industry that can support multiple players. Importantly, we believe this competition makes it more likely that mid-tier grocers lean into Instacart to effectively compete with larger merchants as CART's path to selling more software-based tools to grocers can help grow revenue and improve margins. With Instacart trading at just 7.8x 2026E EBITDA, in our view, it seems this avenue for growth is underappreciated, and we reiterate our Market Outperform rating and $55 price target.”

For an analyst ratings summary and ratings history on Instacart click here. For more ratings news on Instacart click here.

Shares of Instacart closed at $38.60 yesterday.

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