Maplebear (NASDAQ:CART) Stock Moved Down to "Hold" by Needham & Company LLC

Key Points

• Needham & Company downgraded Maplebear from “buy” to “hold.” Despite the downgrade, the broader analyst consensus remains “Moderate Buy,” with an average price target of $58.65.
• Maplebear’s latest quarter produced $1.09 billion in revenue, exceeding expectations, while adjusted EPS of $0.60 fell short of the $0.63 consensus estimate. Revenue increased 16.6% year over year.
• Insiders sold 309,928 shares worth approximately $16.1 million during the latest quarter, while institutional investors own 63.09% of the company.

Maplebear (NASDAQ:CART - Get Free Report) was downgraded by research analysts at Needham & Company LLC from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday, Benzinga reports.

Several other brokerages have also commented on CART. Argus upped their target price on Maplebear from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. increased their price target on Maplebear from $55.00 to $62.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Barclays raised their price objective on shares of Maplebear from $69.00 to $77.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Wedbush initiated coverage on shares of Maplebear in a research note on Thursday, July 16th. They issued an "outperform" rating and a $59.00 price objective for the company. Finally, Weiss Ratings upgraded shares of Maplebear from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 15th. Twelve analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $58.65.

Maplebear Stock Performance

NASDAQ:CART opened at $57.11 on Friday. Maplebear has a 52 week low of $32.73 and a 52 week high of $62.00. The firm's fifty day moving average is $48.94 and its 200-day moving average is $43.23. The firm has a market cap of $13.22 billion, a P/E 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 announced its earnings results on Thursday, October 29th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.03). The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. Maplebear had a return on equity of 20.19% and a net margin of 11.97%. Maplebear's quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. As a group, sell-side analysts anticipate that Maplebear will post 2.31 earnings per share for the current year.

Insider Buying and Selling

In other Maplebear news, CEO Chris Rogers sold 24,665 shares of the company's stock in a transaction on Monday, October 26th. The shares were sold at an average price of $60.00, for a total transaction of $1,479,900.00. Following the transaction, the chief executive officer owned 867,911 shares in the company, valued at approximately $52,074,660. This represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 firm'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 transaction, the director directly owned 591,523 shares in the company, valued at $29,936,979.03. This trade represents a 20.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 309,928 shares of company stock worth $16,121,073 over the last quarter. Corporate insiders own 24.00% of the company's stock.

Institutional Investors Weigh In On Maplebear

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Maplebear during the 2nd quarter worth approximately $750,477,000. William Blair Investment Management LLC bought a new position in shares of Maplebear in the second quarter valued at approximately $86,462,000. Deutsche Bank AG bought a new position in shares of Maplebear in the second quarter valued at approximately $73,801,000. Goodnow Investment Group LLC purchased a new position in shares of Maplebear during the second quarter valued at approximately $69,898,000. Finally, Bank of America Corp DE purchased a new position in shares of Maplebear during the second quarter valued at approximately $57,392,000. Institutional investors and hedge funds own 63.09% of the company's stock.

More Maplebear News

Here are the key news stories impacting Maplebear this week:

• Positive Sentiment: DoorDash agreed to acquire Maplebear in a transaction combining a major restaurant-delivery platform with the leading U.S. grocery-delivery service. The deal could create operating efficiencies, broaden customer reach, and strengthen DoorDash’s position against Amazon and Walmart. The official announcement describes approximately $17 billion in equity value, while some reports refer to the deal as $16 billion. DoorDash to acquire Instacart for $17B
• Positive Sentiment: Instacart’s third-quarter operating results showed continued momentum ahead of the acquisition: gross transaction volume increased 15% year over year, revenue rose 17%, adjusted EBITDA climbed 23% to $342 million, and GAAP net income reached $147 million. Instacart Announces Third Quarter 2026 Financial Results
• Neutral Sentiment: The transaction is not expected to close until late 2027 or the first half of 2028. Consequently, CART may trade below the $65 consideration value as investors weigh regulatory, shareholder-approval, financing, and closing risks.
• Neutral Sentiment: Maplebear reported third-quarter EPS of $0.60, below the roughly $0.63–$0.64 consensus estimate, but revenue of about $1.09 billion exceeded expectations near $1.07 billion. EPS improved from $0.42 a year earlier, tempering the earnings miss. Maplebear Q3 Earnings Miss Estimates
• Negative Sentiment: Several law firms are investigating whether Maplebear’s board obtained a fair price and properly handled potential conflicts or competing offers. Separately, New York City Mayor Zohran Mamdani criticized the merger over possible higher consumer prices and worse worker conditions, highlighting potential antitrust and regulatory scrutiny.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.