Bernstein Lifts Instacart (CART) PT to $60 on Optimistic Outlook

Maplebear Inc. (NASDAQ:CART) is one of the most profitable new stocks to buy now. On July 21, Bernstein upped its price target for Maplebear (more commonly referred to as Instacart)  to $60 from $55, while maintaining an Outperform rating on the shares. The adjustment shows the firm’s optimism about Instacart’s current valuation and its potential to surpass market EBITDA forecasts.

A key driver for this outlook is Instacart’s third-quarter Gross Transaction Value/GTV guidance, especially as its Restaurant segment continues to expand. Although Bernstein anticipates a slight slowdown, it believes that Wall Street’s expectations remain achievable due to the ongoing growth of Restaurant operations.

In Q1 2025, the company’s GTV saw a 10% year-over-year growth, reaching the upper end of its guidance. Order growth increased by 14% year-over-year. However, the Average Order Value/AOV experienced a 4% year-over-year decrease.

Maplebear Inc. (NASDAQ:CART), doing business as Instacart, provides online grocery shopping services to households in North America. Its service can be provided through the company’s mobile application or website.

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Disclosure: None. This article is originally published at Insider Monkey.