Instacart jumps after gross transaction value forecast above estimates

** Shares of Instacart CART.O up about 14% at $56.30 premarket

** The company, also known as Maplebear, forecasts Q3 gross transaction value above estimates, helped by resilient demand amid efforts to offer low-cost groceries

** The grocery delivery platform expects current-quarter gross transaction value in the range of $9 bln and $9.15 bln, above estimates of $8.99 billion, according to data compiled by LSEG

** Posts Q2 profit per share of 41 cents, above estimates of 38 cents

** At least seven brokerages raise price target on stock

** Brokerage J.P.Morgan hikes PT to $65 from $50, says CART remains the market leader in third-party grocery and continues to attract new customers

** Slightly more confident about continued strong GTV growth, as Q2 results eased concerns of a slowdown following Uber Eats partnership, Jefferies analysts say

** CART entered into a partnership with Uber Eats in May last year, to add restaurants to its platform

** 17 of 31 brokerages rate the stock "buy" or higher, 14 "hold"; their median PT is $56.50

** Up to last close, stock up about 19% YTD