Instacart's Total Addressable Market Is Massive Despite Grocery Category Being Slower To Shift Online, Says Bullish Analyst - Maplebear (NASDAQ:CART)

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Instacart's Total Addressable Market Is Massive Despite Grocery Category Being Slower To Shift Online, Says Bullish Analyst - Maplebear (NASDAQ:CART)

Seaport Global analyst Aaron Kessler initiated coverage on Maplebear Inc (NASDAQ:CART) (Instacart) with a Buy rating and announced a price forecast of $62.00. The grocery sector is the largest in retail, generating over $1.1 trillion annually in the U.S. Despite the large total addressable market (TAM), the shift to online grocery shopping has been slower compared to other eCommerce categories, with approximately 13% of grocery orders occurring …