Cantor Fitzgerald Reiterates Overweight Rating on Instacart (CART)

Cantor Fitzgerald analyst Deepak Mathivanan reiterated an Overweight rating and $55.00 price target on Instacart (NASDAQ: CART).

The analyst commented, "CART reported 4Q results with GTV roughly in-line and EBITDA 5% above high-end of prior guide. At a segment level, advertising revenues grew +10% y/y (vs. +11% y/y in 3Q), in-line with GTV growth. Meanwhile, the company's 1Q GTV guide came in 2-pts above, but EBITDA was 3% below prior Street estimates at the high-end (Visible Alpha), reflecting CART's typical conservatism. Operationally, CART is making steady progress on several key themes for the business: 1) improving affordability, 2) capturing better shopper efficiencies, and 3) growing selection / diversifying order mix - which should enable CART to achieve GTV growth in HSD-LDD range over the next several quarters. Overall, 4Q was a solid quarter for CART. Shares are trading down 9% AMC (vs. Nasdaq futures +40bps) but our bullish thesis remains intact. At 10x FY26E EBITDA, we like the risk/reward post 4Q results. We reiterate our Overweight rating and our $55 PT."

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 $48.78 yesterday.

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