Maplebear (CART) News Today

Maplebear Inc. (CART) saw its stock increase following stronger-than-expected Q2 results, upbeat guidance for the coming quarter, and a slew of analyst upgrades and raised price targets reflecting confidence in its growth beyond groceries.

• Positive Sentiment: Q2 results beat expectations with EPS of $0.41 versus $0.39 estimates, revenue of $914 M up 11% YoY, net margin of 12.45%, and the company issued strong Q3 guidance. Instacart tops estimates, issues upbeat outlook
• Positive Sentiment: Instacart forecasts a strong quarter driven by demand for more affordable grocery deliveries. Instacart forecasts strong quarter on demand for cheaper grocery deliveries
• Positive Sentiment: Instacart shoppers are leaning into value offerings, with total orders rising 17% YoY as AI and merchandising tools reshape behavior. Instacart Shoppers Downshift to Value as AI and Merchandising Reshape Behavior
• Positive Sentiment: Needham & Company raised its price target to $66 with a Buy rating, implying a 28.9% upside. Benzinga
• Positive Sentiment: Barclays PLC lifted its target to $65 and maintained an Overweight rating (26.7% upside). Benzinga
• Positive Sentiment: Stifel Nicolaus increased its price target to $64 and reiterated a Buy rating (24.8% upside). Benzinga
• Positive Sentiment: JMP Securities raised its target to $60 with a Market Outperform rating (17.0% upside). Benzinga
• Positive Sentiment: Benchmark Co. upgraded Maplebear to Buy from Hold with a $67 target (30.8% upside). Benzinga and Briefing.com
• Positive Sentiment: Benchmark Equity Research upgraded Instacart to Buy, citing durable growth trends beyond groceries. Instacart Stock Rises on Earnings Beat, Upgrade
• Neutral Sentiment: Bank of America raised its price target to $58 with a Neutral rating, indicating a 13.3% upside. Benzinga
• Neutral Sentiment: Wells Fargo increased its target to $55 while maintaining an Equal Weight rating, implying a 7.2% upside. Benzinga