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.

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

A grocery store shelf lined with the company’s nutritional products.

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.

While we acknowledge the potential of CART to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CART and that has 100x upside potential, check out our report about this cheapest AI stock.

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