Wedbush Maintains Neutral Rating for Maplebear: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Wedbush has maintained a Neutral rating for Maplebear (NASDAQ:CART), also known as Instacart, and lowered its price target from $30.00 to $26.00. Despite this, Maplebear's shares have seen a slight increase of 0.08% over the last 24 hours, trading at $24.21. The new price target suggests a potential upside of 7.39% from the current share price. Instacart operates as an online grocery pickup and delivery service in the US and Canada, earning revenue through transaction fees and advertising.
December 27, 2023 | 5:00 pm
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Wedbush maintains Neutral rating on Maplebear (Instacart) and lowers price target from $30 to $26, with the stock trading at $24.21, indicating a potential upside.
The maintenance of a Neutral rating by Wedbush, combined with a slight decrease in the price target, suggests that the firm sees limited upside potential for Maplebear's stock in the short term. However, the new price target is still above the current trading price, which could indicate a modest positive sentiment. The slight uptick in share price following the announcement reflects a neutral to slightly positive market reaction.
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IMPORTANCE 75
RELEVANCE 100