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

Stifel analyst Mark Kelley maintains a Buy rating on Maplebear (NASDAQ:CART) and raises the price target from $44 to $45.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 2:02 pm

Piper Sandler analyst Thomas Champion has reiterated an Overweight rating on Maplebear (NASDAQ:CART) and increased the price target from $45 to $47.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 12:23 pm

Maplebear Inc. (NASDAQ:CART), the parent company of Instacart, reported Q1 earnings surpassing analyst expectations with earnings of 43 cents per share against an expected loss of 2 cents. Sales reached $820 million, exceeding estimates by 3.35%. The company's gross transaction value (GTV) grew by 11% year-over-year to $8.319 billion, driven by a 9% increase in orders and a 2% increase in average order value (AOV). CEO Fidji Simo highlighted the fourth consecutive quarter of GTV growth and strong profitability, with expectations for continued growth and increased profitability in the future. After the announcement, CART shares dropped 4.2% in after-hours trading to $35.89.

Portfolio Pulse from Erica Kollmann

May 08, 2024 | 8:42 pm

Maplebear shares are trading lower following the release of their Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 8:36 pm

Maplebear reported Q1 2024 earnings of $0.43 per share, significantly beating the $(0.02) estimate. Sales reached $820M, surpassing the $793.44M estimate.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 8:08 pm

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

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 5:49 pm

Maplebear Inc. (NYSE:CART) and Uber Technologies, Inc. (NYSE:UBER) have announced a strategic collaboration to integrate Uber Eats restaurant delivery services into the Instacart platform. This partnership aims to expand service offerings for Instacart, allowing customers to order from a wide range of restaurants directly through the Instacart app. The collaboration is expected to drive more business for restaurants, create more earnings opportunities for couriers, and enhance convenience for users by combining grocery and restaurant delivery services into one platform.

Portfolio Pulse from Shivani Kumaresan

May 07, 2024 | 4:40 pm

Benchmark analyst Mark Zgutowicz has reiterated a Hold rating on Maplebear, listed as CART on NASDAQ.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 12:32 pm

Maplebear shares are trading higher following the announcement of a strategic partnership with Uber Eats to offer restaurant delivery to Instacart customers. This collaboration aims to expand the services available to Instacart users by integrating Uber Eats' restaurant delivery options.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 12:14 pm

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

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