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

Wedbush analyst Scott Devitt has initiated coverage on Maplebear (NASDAQ:CART) with a Neutral rating and a price target of $28.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 9:52 am

Goldman Sachs analyst Eric Sheridan has initiated coverage on Maplebear (NASDAQ:CART) with a Buy rating and a price target of $48.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 8:33 am

Integral Ad Science (IAS) has announced a partnership with Instacart to bring viewability and invalid traffic measurement to Instacart Ads. The partnership aims to provide increased transparency and confidence for advertisers, ensuring that their ads are seen by real consumers. IAS's technology will be available on Instacart Ads, which partners with over 5,500 brands.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 1:16 pm

DoubleVerify (DV) has announced a partnership with Instacart to enable media verification and maximize advertiser performance across the platform. The partnership will use DV's technology and data to verify that Instacart video and display ads are viewable by a human being and are safe from Fraud/Invalid Traffic (IVT).

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 1:05 pm

German shoemaker Birkenstock Holding Plc (NYSE:BIRK) is set to debut on the NYSE after pricing its IPO at $46 per share, targeting a valuation of approximately $8.6 billion. The company plans to use the proceeds to repay borrowings and for general corporate purposes. Birkenstock sold approximately 30 million units in 2022, generating revenue of 1.24 billion euros ($1.32 billion) and net profit of 187 million euros on gross margins of 60%. The company's financial performance is largely dependent on brand perception, with risks including negative consumer perception, supply chain problems, and increasing competition from companies like Nike Inc (NYSE:NKE), Crocs Inc (NASDAQ:CROX), and Deckers Outdoor Corp (NYSE:DECK).

Portfolio Pulse from Adam Eckert

October 11, 2023 | 3:44 pm

Bank and financial stocks are trading higher amid overall market strength. This gain is attributed to the drop in Treasury yields due to the Israel-Hamas conflict.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 5:46 pm

The IPO market has been struggling due to rising interest rates and recessionary headwinds. High-profile IPOs like Arm Holdings (NASDAQ:ARM) and Instacart (NYSE:CART) have seen their stocks wobble soon after listing, with Arm's stock falling nearly 15% and Instacart's plunging over 24%. The Federal Reserve's plan to continue raising interest rates has deterred companies from going public due to concerns about rising borrowing costs. The current hawkish backdrop is unfavorable for IPOs as growth expectations and funding availability remain low.

Portfolio Pulse from Aditi Ganguly

October 09, 2023 | 12:52 pm

Kaiser Permanente is partnering with Instacart to study the impact of convenient access to nutritious food on health outcomes. The study aims to expand nutritious food access.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 1:22 pm

Mastercard has announced new partnerships with Instacart and Peacock to provide additional benefits to its U.S. consumer credit card products. The new offerings include on-demand access to online shopping and grocery delivery with Instacart, and a streaming service subscription offering with Peacock. Eligible World Mastercard and World Elite Mastercard cardholders will receive a two-month free trial and $10 off their second eligible Instacart purchase each month. For Peacock, eligible cardholders will receive a $3 or $5 statement credit on the Peacock Premium monthly streaming subscription.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 1:41 pm

Bernstein analyst Nikhil Devnani has initiated coverage on Maplebear (NASDAQ:CART) with a Market Perform rating and a price target of $30.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 9:16 am

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