Investment firm Stifel has revised its price target for Instacart (CART, Financial), reducing it from $57 to $54. Despite maintaining a Buy rating on the stock, Stifel expresses concerns about the broader digital advertising and e-commerce sectors. They observed that advertising performance has remained resilient, surpassing expectations. However, Stifel is adjusting estimates downward for various segments, including digital advertising, e-commerce, marketplaces, and subscription services.
As consumers face mounting price pressures, Stifel anticipates a slowdown or possible decline in the growth of e-commerce and marketplace gross merchandise volume (GMV). The firm acknowledges a heightened level of uncertainty in its forward projections, comparable only to the unpredictability experienced during the COVID-19 pandemic. This cautious outlook reflects potential challenges in the market dynamics impacting Instacart and similar entities within this digital landscape.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 27 analysts, the average target price for Maplebear Inc (CART, Financial) is $50.82 with a high estimate of $60.00 and a low estimate of $39.00. The average target implies an upside of 20.00% from the current price of $42.35. More detailed estimate data can be found on the Maplebear Inc (CART) Forecast page.
Based on the consensus recommendation from 34 brokerage firms, Maplebear Inc's (CART, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
