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 Hy-Vee have announced a partnership where Hy-Vee will integrate Instacart's Fulfillment as a Service to enhance order fulfillment, expand delivery options, and optimize services for their customers. This collaboration aims to provide same-day delivery services, leveraging Instacart's technology and network.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 2:45 pm

Instacart (NASDAQ:CART) has announced the addition of Whole Foods Market Canada to its app, enabling customers in Canada to order groceries for same-day delivery in as fast as 30 minutes. This service is initially available in 14 Whole Foods Market stores across Vancouver, Victoria, Toronto, and Ottawa. Instacart's technology, including AI-powered recommendations and a user-friendly picking app, will support the delivery process. This partnership aims to provide Canadians with convenient access to high-quality foods and products.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 2:17 pm

Reddit is preparing for its IPO in March 2024 with a potential valuation exceeding $5 billion, marking a significant event in the tech sector after a period of few IPOs. The company, having raised $1.3 billion from investors, has yet to turn a profit despite generating over $800 million in advertising revenue in 2023. Pinterest Inc (PINS), Instacart (CART), and Klaviyo Inc (KVYO) are mentioned in the context of recent tech IPOs, with the latter two facing public market challenges.

Portfolio Pulse from Surbhi Jain

February 02, 2024 | 5:48 pm

Morgan Stanley analyst Brian Nowak has initiated coverage on Maplebear, listed as CART on NASDAQ, with an Equal-Weight rating and a price target of $28.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:37 pm

Maplebear shares have risen following Benchmark's initiation of coverage with a Buy rating and a $32 price target.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 5:49 pm

Maplebear (NASDAQ:CART), also known as Instacart, has received mixed analyst ratings over the past three months, with a recent trend towards more bullish sentiments. Six analysts have provided ratings, with the latest average 12-month price target at $30.67, slightly up from the previous $30.33. The company has shown a strong revenue growth rate of 14.37% as of September 30, 2023, but struggles with profitability, having a net margin of -261.65% and an ROE of -108.79%. Despite these challenges, its market capitalization is above industry average, and it has a low debt-to-equity ratio of 0.01.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 3:00 pm

Benchmark analyst Mark Zgutowicz has initiated coverage on Maplebear, trading under the ticker CART on NASDAQ, with a Buy rating and a price target of $32.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 2:09 pm

Uber Technologies Inc (NYSE:UBER) is rumored to be considering an acquisition of Instacart (NASDAQ:CART), as per Wolfe Research analyst Deepak Mathivanan. Instacart's stock spiked by 6.7% to $25.48 after the analyst upgraded its rating to Outperform with a target price of $35, citing the company's attractive valuation and potential synergies with Uber. The acquisition could help Uber quickly enter the $1 trillion grocery sector with minimal regulatory risk. Instacart, which went public as Maplebear, has been under pressure but is expected to remain a key industry player.

Portfolio Pulse from Benzinga Neuro

January 18, 2024 | 12:09 pm

Airspan Networks Holdings Inc. (MIMO) shares surged over 380% after announcing a partnership with GCT Semiconductor to develop an RF module. Other stocks experienced significant movement in Wednesday's mid-day session, with notable gainers including Treasure Global Inc. (TGL), LQR House Inc. (LQR), and ProQR Therapeutics N.V. (PRQR), among others. Losers included TuSimple Holdings Inc. (TSP), Phunware, Inc. (PHUN), and Adagene Inc. (ADAG). The session also saw various analyst ratings and price target changes affecting stocks like American Coastal Insurance Corporation (ACIC) and Maplebear Inc. (CART).

Portfolio Pulse from Avi Kapoor

January 17, 2024 | 6:12 pm

Maplebear shares have risen following an upgrade from Wolfe Research, which changed its rating from Peer Perform to Outperform and set a price target of $35.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 3:45 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.