Core Insights - Instacart has become the first retail media partner to integrate its first-party retail media data with TikTok Ads Manager, allowing CPG advertisers to enhance campaign targeting and measure performance directly within the platform [1][2][3] Group 1: Partnership Details - The integration provides advertisers with end-to-end capabilities, including access to high-intent audience segments and dynamic grocery selection [2][3] - Instacart's purchase and grocery selection data will be integrated into TikTok Ads Manager, enabling advertisers to optimize campaigns in real-time and drive attributable sales [3][6] Group 2: Audience Engagement - TikTok has over 180 million monthly active users in the US, with 87% of users taking action after viewing ads on the platform, indicating a strong potential for driving commerce [5] - The partnership aims to help CPG brands connect with consumers at the moment of inspiration, enhancing the shopping experience [3][5] Group 3: Advertising Ecosystem - Instacart's advertising ecosystem includes over 7,500 active brands and 1,800 retail partners, allowing marketers to streamline their advertising strategies across various platforms [4][8] - The integration with TikTok is part of a broader strategy to bring Instacart's retail media data to where consumers make shopping decisions [3][4]

Core Points - United Airlines and Instacart have launched a collaboration to provide MileagePlus members with exclusive benefits, including $0 delivery fees on orders placed around domestic flights [1][2][3] - MileagePlus members can earn bonus miles by linking their accounts with Instacart and completing specific orders, enhancing the value of the loyalty program [2][3] Group 1: Collaboration Details - MileagePlus members can enjoy $0 delivery fees on orders placed before, during, or shortly after domestic flights, allowing for easy restocking of groceries [1][3] - New MileagePlus members on Instacart can earn 5,000 bonus miles after completing four orders of $35 or more within eight weeks [3][7] - Existing Instacart users can earn additional miles by linking their accounts and placing qualifying orders [3][7] Group 2: Benefits and Rewards - The collaboration allows MileagePlus members to access a suite of benefits, including a complimentary 7-day Instacart+ membership for $0 delivery fees [3][7] - Members can earn an additional 5,000 miles by enrolling in an annual Instacart+ membership after completing the initial offer [3][7] - Instacart connects consumers to over 1,800 retail partners and nearly 100,000 stores, enhancing the convenience of grocery shopping for travelers [4][8] Group 3: Strategic Focus - Both companies aim to simplify travel and daily life for consumers, with Instacart positioned as a critical part of the travel experience [2][4] - The partnership is expected to provide meaningful benefits to U.S. travelers, increasing convenience and rewards for grocery shopping [4][6]

Core Viewpoint - Maplebear Inc. (Instacart) faces significant topline risks due to increasing competition in the online grocery delivery sector, leading to a downgrade by Piper Sandler from Overweight to Neutral and a price target reduction from $62 to $41 [1][2]. Competition Landscape - The digital grocery sector is experiencing heightened competitive intensity, with major players like Amazon, Uber, and DoorDash expanding their services [3][4]. - Amazon plans to expand same-day perishable delivery to 2,300 cities by year-end, up from 1,000 [3]. - Uber has partnered with Aldi to cover 2,500 stores nationwide, while DoorDash has expanded its agreement with Kroger to 2,700 locations [3][4]. Market Opportunity - The U.S. grocery and adjacent categories represent a $1.2 trillion annual opportunity, with digital penetration currently at 15% and expected to reach 20% by 2028 [4]. Instacart's Position - Instacart is ranked No. 3 in the U.S. with a digital grocery Gross Merchandise Value (GMV) of $33.46 billion in 2024, but may face challenges due to pricing and competition [5][6]. - Instacart's average digital basket costs about 30% more than in-store, leading to a $50 premium per order, which could total approximately $2,700 annually for regular customers [5][6]. Financial Projections - Piper Sandler has slightly reduced revenue estimates for Instacart, projecting $3.71 billion for 2025 (down from $3.73 billion) and $4.05 billion for 2026 (down from $4.11 billion) [6]. - EBITDA forecasts have also been revised to $1.06 billion for 2025 and $1.18 billion for 2026, both slightly lower than previous estimates [6]. Stock Performance - Instacart shares are currently trading at approximately 8x next-twelve-months EV/EBITDA, compared to a prior trough of 6x, with shares down 3.69% to $37.85 [7].

Upgrades - Rothschild & Co Redburn upgraded Coinbase (COIN) to Buy from Neutral with a price target of $417, increased from $325, expecting retail volume growth to mitigate take rate compression [2] - Wells Fargo upgraded Johnson & Johnson (JNJ) to Overweight from Equal Weight with a price target of $212, up from $170, indicating that concerns around pharmaceutical tariffs and pricing risks are largely resolved [3] - Gordon Haskett upgraded Zillow (Z) to Buy from Hold with a price target of $90, citing favorable risk/reward due to negative sentiment affecting shares [3] - Fox Advisors upgraded Instacart (CART) to Outperform from Equal-Weight, believing the 24% decline in stock price since August 11 is "oversold" due to overblown competitive concerns [3] - Erste Group upgraded Alibaba (BABA) to Buy from Hold, noting the company's strong development in artificial intelligence applications [4] Downgrades - Jefferies downgraded Apple (AAPL) to Underperform from Hold with a price target of $205.16, down from $205.82, citing excessive expectations on the replacement cycle and prospects of the iPhone 18 Fold [5] - Piper Sandler downgraded Instacart (CART) to Neutral from Overweight with a price target of $41, down from $62, due to rising competitive pressures from major players like Amazon and Walmart [5] - Wolfe Research downgraded PayPal (PYPL) to Peer Perform from Outperform, with a fair value range of $70-$80, indicating shares may be range-bound until further proof of execution is shown [5] - KeyBanc downgraded Corteva (CTVA) to Sector Weight from Overweight without a price target, following the company's announcement to separate into two public companies [5] - Goldman Sachs downgraded Bumble (BMBL) to Neutral from Buy with a price target of $7, down from $8, stating that the stock's risk/reward is more balanced at current levels [5]

Core Insights - Pinterest Inc. is considered one of the most undervalued stocks to buy and hold for a five-year period [1] - The appointment of Emily Reuter, CFO of Instacart, to Pinterest's Board of Directors is expected to enhance the company's strategy in AI-powered shopping [2][3] Group 1: Leadership and Strategy - Emily Reuter brings significant executive experience from her roles at Instacart and Uber, which will be invaluable for Pinterest's growth [1][2] - Pinterest's CEO, Bill Ready, emphasized the importance of Reuter's experience in executing the company's strategy to become a global leader in AI-powered shopping [2] - Reuter's background includes nearly a decade at Uber, where she served in senior finance and operational roles, including CFO of the Mobility business [3] Group 2: Market Position and Potential - Pinterest has over half a billion monthly active users worldwide, positioning it uniquely to expand its global scale through technology and AI [3] - The company operates as a visual search and discovery platform across the US, Canada, Europe, and internationally [4]

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.Considering buying CART stock? Here’s what analysts think: Read This Next: Photo via ShutterstockLoading...Loading... ...

Core Viewpoint - BTIG downgraded Instacart from Buy to Neutral due to increasing competitive pressures from larger rivals in the grocery delivery sector [1] Group 1: Competitive Landscape - Amazon has expanded its perishable grocery delivery service to 1,000 cities, intensifying competition for Instacart [1] - Instacart's retail partners have formed new deals with Amazon, DoorDash, and Uber, further increasing competitive challenges [1] - More than 25% of Instacart's gross order volume has shifted to competitors recently, indicating a significant loss of market share [1] Group 2: Financial Outlook - BTIG had previously adjusted its price target for Instacart, but recent competitive developments have raised concerns about the sustainability of its growth [2] - Analysts find it increasingly difficult to justify a double-digit EBITDA multiple for Instacart given the negative outlook [2]

Core Insights - Shares of grocery-delivery app Instacart experienced a decline in afternoon trading due to increased competition from DoorDash and Kroger, which announced an expansion of their existing partnership to enhance grocery delivery services [1] Company Summary - Instacart's stock performance is negatively impacted by the competitive landscape, particularly from DoorDash and Kroger's strategic collaboration [1] Industry Summary - The grocery delivery industry is witnessing intensified competition as major players like DoorDash and Kroger seek to strengthen their market positions through partnerships [1]

Core Insights - Instacart and Advantage Solutions have formed a strategic partnership aimed at enhancing in-store execution for consumer packaged goods (CPGs) companies [3][4] - The collaboration combines Instacart's technology and shopper community with Advantage's retail execution services to provide real-time insights and actionable data [4][5] Group 1: Partnership Overview - The partnership will leverage Instacart's in-store audit capabilities and Advantage's retail execution services to help CPGs quickly identify and address gaps in product availability, pricing, and display execution [4][5] - Instacart's community of approximately 600,000 shoppers will conduct in-store audits, generating insights that trigger alerts for Advantage's field teams to act on high-priority issues [4][5] Group 2: Benefits to CPGs - The integrated approach offers CPGs enhanced visibility into in-store conditions, enabling them to improve compliance, tackle out-of-stock issues, and boost overall performance [5][6] - The partnership aims to create new earning opportunities for Instacart shoppers while providing CPGs with the tools needed to streamline operations and enhance customer experiences [5][6] Group 3: Future Plans - A successful pilot of the partnership has been launched, with plans for expansion in 2026 [6]

Core Insights - Instacart has launched the Consumer Insights Portal (CIP), a new software platform that provides brands with access to real-time grocery shopping data [1] - The platform allows partners such as Applegate, Coca-Cola Bottling Canada, and Advantage Solutions to analyze shopping trends across over 1,800 retail partners [1]