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Instacart price target raised to $58 from $50 at Piper Sandler
The Fly

Instacart price target raised to $58 from $50 at Piper Sandler

Piper Sandler raised the firm’s price target on Instacart (CART) to $58 from $50 and keeps an Overweight rating on the shares. The firm notes Q3 results were solid and above expectations although guidance was more in-line with Street numbers. Non-exclusive retailers are growing faster than exclusive retailers and Piper likes the continued investment in products and partnerships. The firm thinks valuation remains compelling for organic user growth and double-digit revenue with improving margins at about 10-times PSC 2026 free cash flow.

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