WMT - The Dual-Edged Sword For Instacart - Dominating Market Share Yet Challenged By Retail Giants And Rival Platforms | Benzinga
Wedbush analyst Scott Devitt initiated coverage on the shares of Maplebear Inc (NASDAQ: CART) d/b/a "Instacart" with a Neutral rating and a price target of $28.
While holding a favorable view of the business and management team, the analyst believes competitive dynamics in the industry will limit Instacart's long-term growth potential as the company faces pressure from retailers outside of its network, other intermediary platforms, and emerging first-party services from leading partners.
Even with an increasingly competitive market, the analyst thinks Instacart will maintain its prominent role in the industry as ...