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

38.16

Mkt cap

10B

Volume

2.4M

High

38.80

P/E Ratio

24.41

52-wk high

53.44

Low

38.01

Div yield

N/A

52-wk low

29.84

U.S. stocks saw slight gains on Thursday, with the Dow Jones index up 0.1%. The J. M. Smucker Company (SJM) reported mixed earnings, leading to a 6.2% rise in its stock. Other notable gainers included Latam Logistic Properties (LPA), Replimune Group (REPL), SecureWorks (SCWX), Smartsheet (SMAR), Xponential Fitness (XPOF), Pharming Group (PHAR), Halozyme Therapeutics (HALO), The Toro Company (TTC), United Natural Foods (UNFI), Maplebear (CART), Semtech (SMTC), iRhythm Technologies (IRTC), Robinhood Markets (HOOD), Lyft (LYFT), Illumina (ILMN), Ciena Corporation (CIEN), and Lululemon Athletica (LULU).

Portfolio Pulse from Avi Kapoor

June 06, 2024 | 2:44 pm

Maplebear shares are trading higher after the company approved a $500 million share repurchase program.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 1:10 pm

Maplebear Inc. has approved a $500 million share repurchase program, indicating confidence in its financial health and future prospects.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 1:06 pm

Gordon Haskett analyst Robert Mollins has upgraded Maplebear (NASDAQ:CART) from Hold to Buy and raised the price target from $37 to $45.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 3:33 pm

Gordon Haskett analyst Robert Mollins has upgraded Maplebear (NASDAQ:CART) from Hold to Buy and set a price target of $45.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 9:56 am

Costco Wholesale Corporation (NASDAQ:COST) reported strong fiscal third quarter earnings, with revenue growing 9% YoY to $58.52 billion and e-commerce sales surging 20.7%. The company emphasized its value proposition, digital sales growth, and expanded partnership with Uber Technologies Inc (NYSE:UBER). Costco's strategy of lowering prices has helped it gain market share in a challenging retail environment. The company is also expanding its store footprint and has delayed raising membership prices to retain its growing member base.

Portfolio Pulse from Upwallstreet

June 04, 2024 | 2:32 pm

The Nasdaq 100 closed slightly lower on Friday, with notable insider trades in Meta Platforms, Maplebear (Instacart), Paycom Software, and Caterpillar. Insider sales can indicate concerns about a company's prospects or that the stock is overpriced. Key insider sales include Sheryl Sandberg selling 105,000 shares of Meta Platforms, Fidji Simo selling 6,000 shares of Maplebear, Chad R. Richison selling 7,800 shares of Paycom Software, and Cheryl H Johnson selling 1,508 shares of Caterpillar.

Portfolio Pulse from Avi Kapoor

June 03, 2024 | 12:29 pm

Instacart and The Home Depot have announced a nationwide partnership to offer same-day delivery from nearly 2000 store locations, with delivery times as fast as one hour.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 1:01 pm

Maplebear's shares are trading lower following the company's presentation at the JP Morgan Global Technology, Media, and Communications Conference.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 3:38 pm

Loop Capital analyst Rob Sanderson maintains a Buy rating on Maplebear (NASDAQ:CART) and raises the price target from $46 to $49.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 5:47 pm

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