Cantor downgrades Instacart stock rating on DoorDash acquisition

Cantor Fitzgerald has reduced its rating on Instacart stock to Neutral from Overweight and increased the price target to $65 from $63, following the announcement of a definitive acquisition deal with DoorDash. The transaction value for DoorDash acquiring Instacart is set at $65 per share, totaling around $17 billion in equity worth.

This offer is 26% higher than Instacart's closing price on October 22, 2026. The deal's total consideration will be at least 75% in cash and up to 25% in DoorDash shares, contingent on shareholder approval. The combination is anticipated to conclude by late 2027 or the first half of 2028. Despite earning a 56% return over the past year, Instacart's stock is currently valued at $13.22 billion with impressive gross profit margins of 73%. Cantor Fitzgerald's revised price target of $65 reflects the transaction offer price.