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

Wolfe Research analyst Deepak Mathivanan has upgraded Maplebear (NASDAQ:CART) from Peer Perform to Outperform and set a price target of $35.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 12:21 pm

Instacart (NASDAQ:CART) has partnered with Google to offer Google Shopping ads powered by Instacart's retail media data to its CPG partners, including Danone's Oikos, Kraft Heinz brands, and Publicis Media's clients. This allows consumers to see ads for products and complete their shopping on Instacart with same-day delivery. Instacart's unique insights from a vast product catalog and retail banners enhance ad targeting. The company has expanded its advertising solutions, including new ad formats and measurement capabilities, delivering an average of over 15% incremental sales lift for brand partners.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 2:01 pm

BMO Capital analyst Brian Pitz has initiated coverage on Maplebear, trading under the ticker CART on NASDAQ, with a Market Perform rating. Additionally, a price target of $26 has been set for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 11:24 am

Instacart (NASDAQ:CART) has announced the expansion of its advertising solutions to include ads on its AI-powered Caper Carts. The initiative will pilot at Good Food Holdings' Bristol Farms stores in Southern California, with plans to deploy thousands of Caper Carts by the end of 2024. Launch partners include Del Monte Foods, Dreyer's Grand Ice Cream, and General Mills, offering personalized ads and product recommendations. This move is part of Instacart's strategic evolution to support retailers and brands both online and in-store, and it builds on the company's Carrot Ads technology.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:18 pm

Wedbush analyst Scott Devitt provided insights on mobility stocks for 2024, with Uber Technologies Inc (UBER) rated Outperform with a $67 target, DoorDash Inc (DASH) rated Neutral with a $92 target, Instacart (CART) rated Neutral with a lowered target of $26, and Lyft Inc (LYFT) rated Neutral with a raised target of $14. Devitt highlighted growth drivers for UBER, execution risks for DASH, competitive challenges for CART, and industry trends benefiting LYFT. UBER shares rose 1.52%, DASH 0.67%, LYFT 0.10%, while CART shares fell 1.07%.

Portfolio Pulse from Lekha Gupta

December 27, 2023 | 6:25 pm

Wedbush has maintained a Neutral rating for Maplebear (NASDAQ:CART), also known as Instacart, and lowered its price target from $30.00 to $26.00. Despite this, Maplebear's shares have seen a slight increase of 0.08% over the last 24 hours, trading at $24.21. The new price target suggests a potential upside of 7.39% from the current share price. Instacart operates as an online grocery pickup and delivery service in the US and Canada, earning revenue through transaction fees and advertising.

Portfolio Pulse from Benzinga Insights

December 27, 2023 | 5:00 pm

Wedbush analyst Scott Devitt has maintained a Neutral rating on Maplebear (NASDAQ:CART) but has lowered the price target from $30 to $26.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 2:08 pm

Nasdaq, Inc. (NDAQ) is leading over the New York Stock Exchange in IPO listings for the fifth consecutive year, having raised $13.6 billion from IPOs in 2023 compared to NYSE's $10.4 billion. Notable Nasdaq IPOs include Arm Holdings Plc (ARM), Maplebear Inc. (CART), and Nextracker Inc. (NXT). The NYSE attracted Kenvue Inc. (KVUE), Birkenstock Holding PLC (BIRK), CAVA Group, Inc. (CAVA), and Klaviyo, Inc. (KVYO). Nasdaq's competitive listing fees and appeal to tech and global firms are seen as strengths. NDAQ shares rose 0.60% to $57.39.

Portfolio Pulse from Nabaparna Bhattacharya

December 26, 2023 | 6:55 pm

Instacart and Fairway Market have launched 'Fairway Now,' a rapid home delivery service promising groceries and essentials delivered from store to door in as little as 30 minutes. This service utilizes Instacart's fast fulfillment solutions to facilitate quick shopping experiences.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 2:07 pm

Instacart (Maplebear Inc.) announced that its Instacart+ members in the U.S. now have access to Peacock Premium at no additional cost. Peacock is NBCUniversal's streaming service, which is a subsidiary of Comcast Corporation. The partnership includes a custom spot featuring content from Peacock, and it comes at a time when TV viewing and grocery delivery peak during the holiday season. Instacart's stock (CART) rose by 2.36% to $26.06 following the news.

Portfolio Pulse from Nabaparna Bhattacharya

November 29, 2023 | 5:25 pm

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