Maplebear (CART) Stock Overview
Maplebear Inc., doing business as Instacart, operates as a technology and enablement partner for the grocery industry in the United States and internationally. More details
| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 2/6 |
| Past Performance | 2/6 |
| Financial Health | 6/6 |
| Dividends | 0/6 |
CART Community Fair Values
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Analyst Price Targets
Maplebear Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$46.81 |
| 52 Week High | US$52.68 |
| 52 Week Low | US$32.73 |
| Beta | 0.80 |
| 1 Month Change | -4.23% |
| 3 Month Change | 9.32% |
| 1 Year Change | 2.32% |
| 3 Year Change | 38.90% |
| 5 Year Change | n/a |
| Change since IPO | 38.90% |
Recent News & Updates
Seeking Alpha • Sep 08
Instacart: Growth Seems To Be Back, But It May Not Be Sustainable
Summary Maplebear Inc. aka Instacart delivered solid Q2 growth across GTV, revenues, and profitability, yet lacks a compelling acceleration to warrant a new position. CART maintains a strong balance sheet with $757M cash, no long-term debt, and robust free cash flow, enabling significant share buybacks. Q3 guidance is in line to slightly above consensus, but does not indicate further acceleration; sustained momentum depends on execution of growth levers. AI-driven features, expanded retailer partnerships, and a growing advertising ecosystem are key to potential reacceleration and broader TAM for CART. Read the full article on Seeking Alpha
Narrative Update • Sep 03
CART: Expanding Retail Partnerships Will Likely Fail To Justify Rich Margins
Analysts have lifted their Maplebear price target from $37 to $45, citing updated assumptions for revenue growth, profit margins, discount rate, and future P/E, which together point to a higher assessed fair value for the stock. What’s in the News for Maplebear Instacart, owned by Maplebear, partnered with Academy Sports + Outdoors to offer same day delivery from more than 300 stores across 21 states, adding a large non grocery retail category to its marketplace.Recent updates
Seeking Alpha • Sep 08
Instacart: Growth Seems To Be Back, But It May Not Be Sustainable
Summary Maplebear Inc. aka Instacart delivered solid Q2 growth across GTV, revenues, and profitability, yet lacks a compelling acceleration to warrant a new position. CART maintains a strong balance sheet with $757M cash, no long-term debt, and robust free cash flow, enabling significant share buybacks. Q3 guidance is in line to slightly above consensus, but does not indicate further acceleration; sustained momentum depends on execution of growth levers. AI-driven features, expanded retailer partnerships, and a growing advertising ecosystem are key to potential reacceleration and broader TAM for CART. Read the full article on Seeking AlphaNarrative Update • Sep 03
CART: Expanding Retail Partnerships Will Likely Fail To Justify Rich Margins
Analysts have lifted their Maplebear price target from $37 to $45, citing updated assumptions for revenue growth, profit margins, discount rate, and future P/E, which together point to a higher assessed fair value for the stock. What’s in the News for Maplebear Instacart, owned by Maplebear, partnered with Academy Sports + Outdoors to offer same day delivery from more than 300 stores across 21 states, adding a large non grocery retail category to its marketplace.
Narrative Update • Jul 30
CART: Physical AI And Retail Partnerships Will Drive Future Opportunity
Analysts have modestly raised the Maplebear price target to about $51 from roughly $50, reflecting updated assumptions for slightly higher revenue, profit margins and future P/E expectations. What’s in the News for Maplebear Instacart and Morrisons launched Caper smart trolleys at a Morrisons store in Preston in the UK, marking Instacart’s first UK retail partnership for its AI powered trolley technology.Narrative Update • Jul 10
CART: Future Margin Assumptions Will Likely Prove Too Optimistic
Analysts have lifted their price target on Maplebear to $37.00 from $36.00, citing updated assumptions that include a shift from previously declining revenue to expected revenue growth, higher projected profit margins of 16.01%, and a lower future P/E estimate of 12.21x, which together adjust the stock's assessed risk and return profile. What’s in the News for Maplebear Instacart, operated by Maplebear, is highlighted as the only stock under $50 on one buy list, with commentary focusing on its platform functionality, servicing costs, strong gross margin, and free cash flow profile, according to recent research coverage.Narrative Update • Jun 25
CART: AI Retail Media And Physical Partnerships Will Support Balanced Future Potential
Analysts now see only a slight change in Maplebear's outlook, with their price target moving marginally from about $50.00 to roughly $50.19 as they balance modestly different assumptions for revenue growth, profit margins, and future P/E expectations. What’s in the News for Maplebear Instacart, operated by Maplebear, introduced an Immersive Feed shoppable vertical video feature that lets customers watch short-form meal and recipe content and add ingredients directly to carts inside retailer storefronts, with brands like Hellmann's, Kettle & Fire, Rachael Ray Nutrish, and Siete Foods participating.Analysis Article • Jun 19
Instacart (CART) Stock Could Be 10.9% Undervalued After Q1 Revenue Beat
Maplebear (CART), better known as Instacart, is back in focus after Q1 results showed revenue ahead of analyst expectations and the company crossing both US$10b in gross transaction value and US$1b in total revenue. See our latest analysis for Maplebear. At a latest share price of US$44.55, Maplebear has seen a 4.04% 1 day share price return and a 20.63% 90 day share price return, while the 1 year total shareholder return sits at 1.83%. This suggests recent momentum has picked up following...Narrative Update • Jun 07
CART: Physical AI Retail Partnerships Will Support Future Upside Potential
Analysts have trimmed their price target on Maplebear slightly from $50.14 to $50.00. This change reflects updated assumptions around discount rates, expected revenue growth, profit margins, and future P/E multiples.Analysis Article • May 14
We Think Maplebear's (NASDAQ:CART) Solid Earnings Are Understated
The stock was sluggish on the back of Maplebear Inc.'s ( NASDAQ:CART ) recent earnings report. Our analysis suggests...Narrative Update • Apr 27
CART: Expanded Retail Partnerships And Fulfillment Platform Will Support Future Upside Potential
Analysts now place Maplebear's fair value estimate at about $50.14 per share, compared with roughly $49.86 previously, reflecting small adjustments to long term assumptions for revenue growth, profit margins, and future P/E. What's in the News Instacart and ALDI U.S. launched a redesigned ALDI website and mobile app powered by Instacart's Storefront Pro platform, with Instacart serving as ALDI's exclusive fulfillment partner across both channels.Narrative Update • Apr 13
CART: New Retail Alliances And Fulfillment Expansion Will Drive Future Upside
Analysts have raised their price target on Maplebear slightly to about $49.86 from around $49.52, reflecting updated assumptions on revenue growth, profit margins and future P/E levels. What's in the News Instacart and ALDI U.S. launched a redesigned ALDI website and mobile app powered by Instacart's Storefront Pro platform, with Instacart serving as ALDI's exclusive fulfillment partner across both channels, including delivery and curbside pickup in as fast as an hour.Narrative Update • Mar 29
CART: Retail Partnerships And Data Platform Will Drive Future Upside
Analysts now hold their price target for Maplebear steady at $49.52. This reflects unchanged views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions.Narrative Update • Mar 12
CART: Expanding Retail Partnerships And Data Platform Will Support Future Upside
Analysts have nudged their price target on Maplebear slightly lower to about $49.52 from roughly $49.63, reflecting updated assumptions around discount rates, long term profit margins, and a more conservative future P/E multiple. What's in the News Maplebear completed a share repurchase program announced on June 6, 2024, buying back a total of 46,729,794 shares, representing 17.67% of shares, for $1,814m, including 26,835,280 shares or 10.11% from October 1, 2025 to December 31, 2025 for $1,100m (Key Developments).Narrative Update • Feb 26
CART: Expanding Retail Partnerships And Data Platform Will Drive Future Returns
Analysts have trimmed their price target on Maplebear by about $0.59 to reflect updated assumptions around slightly adjusted discount rates, revenue growth, profit margins and future P/E expectations. What's in the News Maplebear completed a share repurchase of 46,729,794 shares, representing 17.67% of shares, for a total of US$1.814b under the buyback announced on June 6, 2024.Narrative Update • Feb 09
CART: Retail Partnerships And Data Platform Will Support Future Returns
Analysts have slightly reduced their price target for Maplebear to account for minor adjustments to assumptions on fair value, discount rate, revenue growth, profit margin and future P/E. This has resulted in a modestly lower implied valuation in US$ terms.Narrative Update • Jan 24
CART: Expanded Buybacks Will Support Future Returns From Retail Partnerships
Analysts have slightly trimmed their price target on Maplebear, reflecting a fair value update to US$50.37 along with modest adjustments to revenue growth, profit margin and future P/E assumptions. What's in the News Instacart introduced Data Hub, a clean room solution that lets CPG brands and agencies securely combine their data with Instacart grocery purchase signals to build audiences, analyze customer behavior, and measure omnichannel performance, with a broader rollout planned through 2026 (Product-Related Announcements).Narrative Update • Jan 09
CART: Expanded Buybacks And Retail Partnerships Will Support Strong Future Returns
Analysts have nudged their price target for Maplebear slightly higher to reflect a fair value revision from about US$50.62 to roughly US$50.92, citing small adjustments to discount rate assumptions, revenue growth expectations, profit margin outlook, and future P/E estimates. What's in the News Instacart expanded its equity buyback plans, increasing authorization by US$1,500m to a total of US$2,500m, and completed repurchases of 19,894,514 shares for US$714m under the earlier program (Key Developments).Narrative Update • Dec 14
CART: Expanded Retail Partnerships And Buybacks Will Drive Strong Future Returns
Narrative Update on Maplebear Analysts have nudged their price target on Maplebear slightly lower to approximately $50.62 per share from about $50.70, reflecting modestly higher long term revenue growth and profit margin expectations, offset by a slightly lower projected future valuation multiple. What's in the News Raised total share repurchase authorization to $2.5 billion, adding $1.5 billion in new capacity.Narrative Update • Nov 29
CART: Expanding Retail Networks And Buybacks Will Deliver Shareholder Value
Analysts have slightly increased their price target for Maplebear, raising the fair value estimate by $0.04 to $50.70 per share. This adjustment reflects minor changes in projected revenue growth and discount rate assumptions.Narrative Update • Nov 14
CART: Expanding Retail Partnerships And Share Buybacks Will Drive Future Upside
Analysts have revised their price target for Maplebear downward from $55.50 to approximately $50.67. This change reflects more cautious assumptions around future growth and profitability.Narrative Update • Oct 31
CART: Expanded Partnerships And New Features Will Drive Market Share Gains
Analysts have revised their price target for Maplebear downward by $1.31 to $55.50. This reflects a slightly more conservative outlook based on updated fair value estimates and minor adjustments to key financial assumptions.Narrative Update • Oct 17
Digital Channels And AI Will Fuel Grocery Market Expansion
Narrative Update: Maplebear Analyst Price Target Revised Analysts have slightly lowered their price target for Maplebear from $58.72 to $56.81, citing modest reductions in projected revenue growth and profit margin estimates. What's in the News Mesa partnered with Instacart+ to offer members a complimentary one-year subscription, which includes free grocery delivery for orders over $35, Peacock, and New York Times Cook benefits.Narrative Update • Oct 03
Digital Channels And AI Will Fuel Grocery Market Expansion
Analysts have slightly lowered their price target for Maplebear from $59.88 to $58.72. This change is due to modest adjustments in growth projections and profit margin expectations.Narrative Update • Aug 08
Digital Channels And AI Will Fuel Grocery Market Expansion
Maplebear's consensus price target, revenue growth forecasts, and future P/E ratio all remained steady, indicating little change in analysts’ outlook or projected fair value, which is unchanged at $53.54. What's in the News Chris Rogers appointed as Instacart's new CEO, succeeding Fidji Simo, who will remain as chair to aid the transition.Seeking Alpha • Apr 16
Instacart: A Tariff-Resistant Business At A Great Price
Summary Instacart is a strong buy due to its minimal impact from tariffs, robust growth, and recent stock dip, presenting a buying opportunity. The company is enhancing operational efficiencies, such as multi-store fulfillment and lower delivery minimums, boosting customer satisfaction and GTV. Instacart's advertising revenue, driven by AI personalization, is a significant growth area, contributing to its attractive valuation multiples. Despite risks from consumer spending and competition, Instacart's growth in adjusted EBITDA and market position make it a compelling investment at just ~8x adjusted EBITDA. Read the full article on Seeking AlphaSeeking Alpha • Mar 13
Instacart: The Online Grocery King Deserves A Higher Valuation
Summary Instacart's dominant position as the leading online grocery platform in the U.S. creates a solid foundation for future growth. Instacart is uniquely positioned to benefit from a doubling of online grocery penetration, from 15% today to an estimated 30% by 2040, potentially expanding its addressable market to roughly $700–750 billion. Recent financial results further support the thesis of strong commercial momentum, with full year 2024 revenue growing 11% YoY to $3.4 billion, while operating income jumped to $489 million. Looking ahead, operating income is forecasted to grow at a 15% CAGR through 2027, which would justify a $47 per share valuation according to my residual earnings valuation model. Read the full article on Seeking AlphaSeeking Alpha • Mar 05
Instacart: Put This In Your Cart Now After The Recent Drop
Summary Last week, Instacart stock fell by over 12% after its Q4 report, even though the numbers weren't that bad. Combined with an overall market sell-off, shares are reasonably priced now. The Q4 results showed EPS and GTV growth, but slight revenue and order value misses, along with soft Q1 EBITDA guidance, led to an exaggerated sell-off. Instacart's innovation, competitive positioning in a growing market, and strong financials (including a large cash position, high margins, and lots of free cash flow) position it well for future growth. Competition risks are worth considering, especially from big players like Walmart and Uber Eats. However, it looks like Instacart has been able to fend off competition for now. Read the full article on Seeking Alpha
New Narrative • Feb 22
Investments In AI And Caper Carts Will Expand Market Penetration
Strategic focus on retailer integration and tech innovation is expected to drive superior growth, bolstering future revenue and GTV.Seeking Alpha • Jan 27
Instacart: A Turnaround In Operations, But I Need To See How It Keeps Momentum
Summary Maplebear Inc. aka Instacart has achieved profitability through aggressive cost-cutting, but may face challenges in maintaining competitiveness and growth. CART's revenue growth has slowed significantly since its initial pandemic-driven surge, raising concerns about sustainable long-term growth. The company has strong cash reserves and no debt, positioning it well for future growth initiatives, including partnerships and advertising. Despite promising ventures and partnerships, CART's future growth and margin stability remain uncertain, warranting close monitoring before considering an investment. Read the full article on Seeking AlphaSeeking Alpha • Nov 14
Instacart: The Post-Earnings Dip Is A Great Time To Buy This Transformational Brand
Summary Instacart's Q3 results exceeded expectations, with 11% y/y GTV growth and a 39% y/y surge in adjusted EBITDA, despite a post-earnings dip. The company's guidance for Q4 GTV growth is conservative; historical trends suggest Instacart will likely surpass these estimates. Instacart's large TAM, strong partnerships, ad revenue growth, and commitment to profitability make it a compelling buy at current valuations. I recommend using the recent dip as a buying opportunity, with a price target of $50, representing a ~20% upside from current levels. Read the full article on Seeking AlphaShareholder Returns
| CART | US Consumer Retailing | US Market | |
|---|---|---|---|
| 7D | -2.5% | 0.3% | -1.5% |
| 1Y | 2.3% | 4.5% | 13.3% |
Return vs Industry: CART underperformed the US Consumer Retailing industry which returned 4.5% over the past year.
Return vs Market: CART underperformed the US Market which returned 13.3% over the past year.
Price Volatility
| CART volatility | |
|---|---|
| CART Average Weekly Movement | 6.2% |
| Consumer Retailing Industry Average Movement | 5.4% |
| Market Average Movement | 6.9% |
| 10% most volatile stocks in US Market | 15.3% |
| 10% least volatile stocks in US Market | 2.9% |
Stable Share Price: CART has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: CART's weekly volatility (6%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2012 | 3,600 | Chris Rogers | www.instacart.com |
Maplebear Inc., doing business as Instacart, operates as a technology and enablement partner for the grocery industry in the United States and internationally. The company offers Instacart Marketplace which helps retailers serve customers’ needs by supporting fulfillment options, shopping occasions, and categories; Instacart Enterprise platform, an end-to-end technology solution for retailers across all aspects of business; and Instacart Ads, enables brands to learn more about general consumer behavior from discovery to purchase, offering insights about how to optimize advertising spend. It also provides advertising solutions, including sponsored product ads, display ads, coupons, and brand pages; and software-as-a-service.
Maplebear Inc. Fundamentals Summary
| CART fundamental statistics | |
|---|---|
| Market cap | US$11.45b |
| Earnings (TTM) | US$472.00m |
| Revenue (TTM) | US$3.99b |
23.0x
P/E Ratio2.7x
P/S RatioIs CART overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| CART income statement (TTM) | |
|---|---|
| Revenue | US$3.99b |
| Cost of Revenue | US$1.10b |
| Gross Profit | US$2.90b |
| Other Expenses | US$2.43b |
| Earnings | US$472.00m |
Last Reported Earnings
Jun 30, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 2.04 |
| Gross Margin | 72.58% |
| Net Profit Margin | 11.82% |
| Debt/Equity Ratio | 0% |
How did CART perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/15 21:39 |
| End of Day Share Price | 2026/09/15 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Maplebear Inc. is covered by 35 analysts. 30 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Colin Sebastian | Baird |
| Ross Sandler | Barclays |
| Mark Shmulik | Bernstein |