-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
We lift our 12-month target by $6 to $54, based on an unchanged 9.0x EV/EBITDA multiple applied to our raised 2026 adj-EBITDA estimate of $1,324M (from $1,299M). We lift our 2026 EPS to $4.38 from $4.16 and 2027 to $5.57 from $4.89. CART is off to a strong start in 2026, with quarterly GTV surpassing $10B for the first time this past quarter. Additionally, ad revenue growth of 16% marked the fastest pace in over two years. The Q2 GTV guide implies another quarter of double-digit Y/Y growth, which we view as strong. However, we believe the shares are trading lower today due to the Q2 adj-EBITDA guide, which implies limited margin expansion. We wouldn't place too much focus on the adj-EBITDA guide, as CART has historically beaten the top end of its guidance range. Moreover, given the company's steep margin expansion over the past few years, a deceleration is inevitable at some point. We maintain our Buy rating, viewing the shares as trading at a deep discount.