Truist Securities maintains DoorDash at Buy, raises price target to $340 from $336

DoorDash agreed to acquire Instacart for $17B, a deal expected to take over a year to finalize. The acquisition will expand Instacart's store selection to 150,000. DoorDash aims to leverage Instacart's grocery expertise, while Instacart plans to accelerate industry innovation. Regulators will review the deal for antitrust concerns.

DoorDash plans to acquire Instacart for $17 billion, aiming to expand store access and offer a combined membership. The deal, expected to close by early 2028, may reduce subscription costs but could also lead to higher service fees and grocery prices, according to experts. DoorDash expects to add 50,000 more stores to Instacart's nearly 100,000. The acquisition may face regulatory scrutiny.

DoorDash agreed to acquire Instacart for $17 billion, offering $65 per share. The deal, subject to antitrust review, would combine two major delivery platforms, affecting grocery prices, competition, and gig workers. DoorDash's market share in U.S. grocery deliveries has grown to 59%, while Instacart's has fallen to 18%.

DoorDash has proposed a $17 billion cash-and-stock acquisition of Instacart, valuing the latter at $65 per share. The deal, expected to close by 2027-2028, aims to expand advertising and delivery reach for CPG brands but faces antitrust scrutiny. DoorDash currently holds 59% of US food delivery spending, while Instacart has 18%. Critics warn of potential monopoly concerns, citing past regulatory issues and worker exploitation claims.

DoorDash CEO Tony Xu reported that AI agents have placed only a few hundred orders out of 993 million in Q3. Revenue grew 34% to $4.6B, with net income up 91% to $466M. Shares rose 5.61% to $179.00. The company guided Q4 GOV at $35.4B-$36.4B and adjusted EBITDA at $900M-$1.1B. Concerns remain about AI agents and the Instacart acquisition.

Sprouts Farmers Market reported a 5% increase in third-quarter net sales to $2.3bln, but comparable store sales declined 0.9%. Amazon.com reported a 12% increase in net sales to $201.9bln and operating income of $28.1bln. DoorDash will acquire Instacart for approximately $17bln, with Instacart reporting third-quarter revenue of $1.095bln. Coles' stock fell 7.7% as sales growth slowed.