Streetbeat News

CART

Instacart (Maplebear Inc.)

https://www.instacart.com

Industry

Specialty Retail

Maplebear Inc., doing business as Instacart, provides online grocery shopping services to households in North America. The company connects the consumer with a personal shopper to shop and deliver a range of products, such as food, alcohol, consumer health, pet care, ready-made meals, and others. The company offers its services through a mobile application or website. The company was incorporated in 2012 and is based in San Francisco, California.

Open

42.86

Mkt cap

11B

Volume

6.6M

High

42.93

P/E Ratio

-7.55

52-wk high

50.01

Low

40.88

Div yield

N/A

52-wk low

22.13

Instacart and Uber have announced a partnership that will integrate Uber Eats restaurant delivery services into the Instacart platform, allowing Instacart customers to order food from restaurants directly through Instacart's app.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 12:04 pm

Morgan Stanley analyst Brian Nowak reaffirmed an Overweight rating on Uber Technologies, Inc. (UBER) with a $90 price target, citing its attractive growth-adjusted multiple compared to Lyft, Inc. (LYFT), Maplebear Inc. (CART), and others. Nowak highlighted Uber's potential for growth and profitability, leveraging its multi-product rides and cross-platform strategies. Concerns about competition from autonomous driving technologies, notably Tesla Inc.'s (TSLA) advancements, were also mentioned. Uber's stock has seen significant growth, and exposure to UBER can be gained through ETFs like First Trust US Equity Opportunities ETF (FPX) and Global X Millennial Consumer ETF (MILN).

Portfolio Pulse from Anusuya Lahiri

May 06, 2024 | 7:50 pm

Morgan Stanley analyst Brian Nowak has maintained an Equal-Weight rating on Maplebear (NASDAQ:CART) and increased the price target from $28 to $40.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:22 pm

ROFDA wholesalers, representing over 2,250 stores in the U.S., have chosen Instacart's Carrot Ads solution to power their new online retail media networks. This collaboration aims to enhance digital advertising capabilities for these stores.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:06 pm

Instacart has expanded its omnichannel partnership with The Save Mart Companies, aiming to enhance the grocery shopping experience through improved digital and in-store offerings. This collaboration is expected to leverage Instacart's technology to offer customers a more seamless and integrated shopping experience across The Save Mart Companies' various store brands.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 10:15 am

Oppenheimer analyst Jason Helfstein maintains an Outperform rating on Maplebear (NASDAQ:CART) and raises the price target from $36 to $48.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 12:16 pm

Insiders at Delta Air Lines, Jefferies Financial Group, The Hershey Company, and Maplebear have recently sold shares. Delta Air Lines reported better-than-expected Q1 earnings, Jefferies Financial Group announced the pricing of $1.50 billion senior notes, Hershey's price target was lowered by Wells Fargo, and Maplebear was reiterated with a Hold by Needham.

Portfolio Pulse from Avi Kapoor

April 25, 2024 | 12:25 pm

In the past three months, Maplebear (NASDAQ:CART) received 10 analyst ratings, showing a mix of bullish to bearish sentiments. The average 12-month price target is $41.0, indicating an 18.12% increase from the previous target of $34.71. Analysts have adjusted their ratings and price targets, reflecting their evolving expectations for Maplebear, which operates as Instacart. The company has shown a revenue growth rate of 6.08% as of December 31, 2023, a net margin of 16.56%, and an impressive ROE of 3.68%, despite lagging behind industry peers in revenue growth.

Portfolio Pulse from Benzinga Insights

April 23, 2024 | 6:01 pm

Needham analyst Bernie McTernan reiterates a Hold rating on Maplebear, listed as CART on NASDAQ.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 4:02 pm

Loop Capital analyst Rob Sanderson initiates coverage on Maplebear (NASDAQ:CART) with a Buy rating and a price target of $46.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 11:00 am

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