Maplebear (NASDAQ:CART) Rating Lowered to Market Perform at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein downgraded Maplebear to “market perform” from “outperform,” while raising its price target to $65 from $60, implying about 15.3% upside.
• Analyst sentiment is mixed, with a consensus “hold” rating from 21 analysts and an average price target of $58.33; Oppenheimer and JPMorgan recently raised their targets, while Guggenheim maintained a neutral view.
• Maplebear shares fell 1.3% to $56.38 after the company reported quarterly EPS of $0.60, missing estimates of $0.63, despite revenue of $1.09 billion that increased 16.6% year over year.

Maplebear (NASDAQ:CART - Get Free Report) was downgraded by analysts at Sanford C. Bernstein from an "outperform" rating to a "market perform" rating in a research note issued to investors on Friday, Benzinga reports. They currently have a $65.00 price target on the stock, up from their prior price target of $60.00. Sanford C. Bernstein's target price indicates a potential upside of 15.30% from the stock's current price.

A number of other analysts also recently issued reports on the stock. Oppenheimer raised their price target on shares of Maplebear from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Guggenheim increased their target price on shares of Maplebear from $44.00 to $46.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on Maplebear from $55.00 to $62.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Weiss Ratings raised Maplebear from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 15th. Finally, Wedbush began coverage on shares of Maplebear in a report on Thursday, July 16th. They issued an "outperform" rating and a $59.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $58.33.

Maplebear Stock Down 1.3%

Shares of NASDAQ:CART traded down $0.73 during trading on Friday, hitting $56.38. The stock had a trading volume of 6,289,867 shares, compared to its average volume of 4,708,924. Maplebear has a 12-month low of $32.73 and a 12-month high of $62.00. The stock has a 50-day simple moving average of $48.94 and a two-hundred day simple moving average of $43.23. The stock has a market capitalization of $13.05 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 1.15 and a beta of 0.87.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.60 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business earned $0.42 earnings per share. The firm's revenue was up 16.6% on a year-over-year basis. As a group, sell-side analysts forecast that Maplebear will post 2.31 earnings per share for the current year.

Insider Buying and Selling at Maplebear

In other news, CFO Emily Reuter sold 50,000 shares of the stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $55.00, for a total value of $2,750,000.00. Following the completion of the transaction, the chief financial officer owned 599,337 shares in the company, valued at $32,963,535. This trade represents a 7.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 150,000 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the sale, the director directly owned 591,523 shares in the company, valued at approximately $29,936,979.03. This represents a 20.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 309,928 shares of company stock valued at $16,121,073. Insiders own 24.00% of the company's stock.

Institutional Trading of Maplebear

A number of institutional investors have recently bought and sold shares of the company. NFSG Corp acquired a new position in Maplebear during the 3rd quarter worth $26,000. Root Financial Partners LLC bought a new stake in Maplebear during the third quarter worth approximately $27,000. CX Institutional raised its position in Maplebear by 91.5% in the third quarter. CX Institutional now owns 944 shares of the company's stock worth $41,000 after acquiring an additional 451 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Maplebear by 94.7% in the second quarter. Versant Capital Management Inc now owns 1,215 shares of the company's stock valued at $58,000 after buying an additional 591 shares in the last quarter. Finally, Allworth Financial LP purchased a new stake in Maplebear during the second quarter valued at about $62,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Maplebear

Here are the key news stories impacting Maplebear this week:

• Positive Sentiment: DoorDash agreed to acquire Maplebear in a cash-and-stock transaction valued at approximately $17 billion, providing shareholders with a potential exit near $65 per share. The deal could deliver a substantial premium if it closes. DoorDash to acquire Instacart for $17B
• Positive Sentiment: Instacart reported solid operating growth in the third quarter: gross transaction volume increased 15%, revenue rose approximately 17% to about $1.1 billion, GAAP net income reached $147 million, and adjusted EBITDA climbed 23% to $342 million. Instacart Announces Third Quarter 2026 Financial Results
• Positive Sentiment: The combination could create scale in restaurant and grocery delivery, with management targeting at least $500 million in operational efficiencies and a stronger competitive position against Amazon and Walmart.
• Neutral Sentiment: Several shareholder law firms are investigating whether the $65 offer fairly values Maplebear and whether directors fulfilled their fiduciary duties. These investigations do not necessarily change the transaction terms but add legal and deal-completion uncertainty. CART Stock Alert shareholder investigation
• Negative Sentiment: Antitrust concerns are the main overhang. DoorDash already has a leading restaurant-delivery position, while Instacart is a major grocery-delivery platform; regulators and local officials have warned that the merger could reduce competition, increase prices, or weaken gig-worker bargaining power. Closing is not expected until late 2027 or early 2028, creating a lengthy period of regulatory and execution risk. DoorDash’s $17 billion bet on Instacart faces a long regulatory road ahead
• Negative Sentiment: Maplebear’s quarterly EPS of $0.60 missed consensus estimates near $0.63-$0.64, and the company suspended forward guidance and canceled its scheduled earnings call following the acquisition announcement. Maplebear Q3 earnings miss estimates
• Negative Sentiment: Citizens JMP, Barclays, Needham and Cantor Fitzgerald each downgraded the stock, with Barclays cutting its price target to $65 from $77. The broad shift toward neutral or hold ratings signals reduced conviction in additional standalone upside while the merger is pending.

Maplebear Company Profile

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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