Maplebear (NASDAQ:CART) Cut to Market Perform at Citizens Jmp

Key Points

• Citizens JMP downgraded Maplebear (Instacart) from “market outperform” to “market perform.” Despite the cut, analysts’ consensus remains “Moderate Buy,” with an average price target of $57.94.
• Maplebear’s latest quarter showed revenue rising 16.6% year over year to $1.09 billion, exceeding estimates, while EPS of $0.60 fell short of the $0.63 consensus.
• DoorDash’s proposed acquisition of Instacart for $65 per share offers potential upside, but regulatory scrutiny, shareholder investigations and an expected closing timeline no earlier than late 2027 create significant deal risks.

Maplebear (NASDAQ:CART - Get Free Report) was downgraded by investment analysts at Citizens Jmp from a "market outperform" rating to a "market perform" rating in a note issued to investors on Friday, Benzinga reports.

CART has been the topic of several other research reports. Wells Fargo & Company increased their price target on shares of Maplebear from $54.00 to $56.00 and gave the stock an "equal weight" rating in a report on Monday, October 5th. Wall Street Zen lowered shares of Maplebear from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Wedbush started coverage on shares of Maplebear in a research note on Thursday, July 16th. They set an "outperform" rating and a $59.00 price target on the stock. Oppenheimer raised their price objective on shares of Maplebear from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Finally, Weiss Ratings raised Maplebear from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 15th. Ten investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $57.94.

Maplebear Stock Down 2.2%

NASDAQ:CART opened at $57.11 on Friday. The business's 50-day simple moving average is $48.94 and its two-hundred day simple moving average is $43.23. Maplebear has a 52 week low of $32.73 and a 52 week high of $62.00. The stock has a market cap of $13.22 billion, a PE ratio of 31.21, a P/E/G ratio of 1.15 and a beta of 0.87.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($0.03). Maplebear had a return on equity of 20.19% and a net margin of 11.97%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the business earned $0.42 earnings per share. The firm's quarterly revenue was up 16.6% compared to the same quarter last year. Sell-side analysts anticipate that Maplebear will post 2.31 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ravi Gupta sold 150,000 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the completion of the sale, the director directly owned 591,523 shares of the company's stock, valued at approximately $29,936,979.03. This represents a 20.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 3,016 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $49.58, for a total value of $149,533.28. Following the completion of the sale, the chief accounting officer owned 34,699 shares of the company's stock, valued at approximately $1,720,376.42. This represents a 8.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 309,928 shares of company stock worth $16,121,073 in the last quarter. Insiders own 24.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CART. BlackRock Inc. bought a new stake in Maplebear during the second quarter worth approximately $750,477,000. Dimensional Fund Advisors LP grew its stake in shares of Maplebear by 31.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,981,960 shares of the company's stock worth $186,618,000 after purchasing an additional 1,189,287 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Maplebear in the 2nd quarter worth about $86,462,000. Deutsche Bank AG acquired a new stake in shares of Maplebear during the second quarter valued at approximately $73,801,000. Finally, Goodnow Investment Group LLC acquired a new stake in shares of Maplebear in the second quarter worth $69,898,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Maplebear

Here are the key news stories impacting Maplebear this week:

• Positive Sentiment: DoorDash’s acquisition offer provides a potential $65-per-share exit, representing meaningful upside from CART’s recent trading level if the transaction closes. The combination would unite major restaurant and grocery-delivery platforms and is expected to generate more than $500 million in operational efficiencies. DoorDash to acquire Instacart for $17 billion
• Positive Sentiment: Instacart’s third-quarter results showed solid operating growth: gross transaction volume increased 15%, revenue rose approximately 17% to about $1.1 billion, GAAP net income reached $147 million, and adjusted EBITDA grew 23% to $342 million. Instacart Announces Third Quarter 2026 Financial Results
• Neutral Sentiment: The transaction is expected to close no earlier than late 2027 or the first half of 2028. The lengthy timeline increases merger-arbitrage risk and ties up investor capital, while the companies have suspended forward guidance and canceled Instacart’s scheduled earnings call.
• Negative Sentiment: Regulatory scrutiny is the key overhang. The deal would combine two leading delivery platforms, prompting expected antitrust review and criticism from labor and political groups over competition, consumer prices and worker conditions. Several law firms are also investigating whether shareholders are receiving a fair price, potentially creating additional deal uncertainty. CART shareholder investigation
• Negative Sentiment: Maplebear earned $0.60 per share, below analyst expectations of roughly $0.63-$0.64, despite revenue exceeding estimates and rising 16.6% year over year. Barclays cut its rating to “equal weight” and lowered its target to $65, while Needham moved to “hold” and Cantor Fitzgerald downgraded the stock to “neutral.”

About Maplebear

Maplebear Inc, doing business as Instacart, operates a technology-enabled grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can order groceries and other household products for delivery or pickup from participating supermarkets, specialty food stores, convenience retailers and other merchants.

The company also provides retailers with e-commerce, fulfillment and advertising solutions. Its platform supports online storefronts, order management, delivery logistics, customer engagement and data-driven marketing, allowing retail partners to offer digital shopping services and reach consumers through Instacart's marketplace.

Founded in 2012, Maplebear serves customers across the United States and Canada.

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