Maplebear (NASDAQ:CART) Issues Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Maplebear (NASDAQ:CART) posted its earnings results on Thursday. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09), Zacks reports. Maplebear had a return on equity of 19.34% and a net margin of 11.97%.The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The firm’s quarterly revenue was up 14.1% on a year-over-year basis.

Here are the key takeaways from Maplebear’s conference call:

• Q2 performance was strong, with GTV and total revenue both rising 14% year over year to $10.35 billion and $1.04 billion, respectively. Advertising and other revenue grew 16%, outpacing GTV growth.
• Profitability and cash generation improved, with adjusted EBITDA up 19% to $313 million, operating cash flow up 143% to $493 million, and free cash flow up 156% to $480 million. Instacart repurchased $325 million of shares and retains nearly $1 billion in buyback capacity.
• Management cited accelerating customer acquisition, improving order accuracy for the 16th consecutive quarter, strong enterprise adoption, and continued expansion of advertising and international offerings. The AI shopping assistant is expected to launch across North America and is already producing larger-than-average baskets.
• GAAP net income declined 4% year over year to $111 million, while GAAP gross profit as a percentage of GTV fell to 7.3% from 7.5%, partly due to higher publisher payments and stock-based compensation.
• Q3 guidance calls for GTV of $10.3 billion-$10.55 billion and adjusted EBITDA of $320 million-$340 million, both representing approximately 14% and 19% year-over-year growth at the midpoint. The company widened its guidance ranges and said it now expects results to land within the ranges, with the midpoint as its best estimate.

Maplebear Price Performance

Shares of CART traded up $5.14 during trading hours on Friday, hitting $50.17. 14,310,675 shares of the stock were exchanged, compared to its average volume of 3,686,009. Maplebear has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The business has a 50-day moving average of $44.97 and a 200-day moving average of $40.89. The firm has a market capitalization of $11.79 billion, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 0.61 and a beta of 0.78.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Maplebear from $47.00 to $54.00 and gave the company an “equal weight” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Maplebear from $55.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday. Cantor Fitzgerald increased their price objective on Maplebear from $56.00 to $63.00 and gave the company an “overweight” rating in a report on Friday. Needham & Company LLC raised their target price on Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Barclays lifted their target price on Maplebear from $69.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.27.

Key Maplebear News

Here are the key news stories impacting Maplebear this week:

• Positive Sentiment: Analyst sentiment improved significantly. Barclays raised its price target from $69 to $77 and maintained an “overweight” rating. JPMorgan, Oppenheimer, Cantor Fitzgerald, Benchmark and Needham also increased their targets, generally citing growth prospects and assigning bullish ratings. Analyst price-target updates
• Positive Sentiment: Second-quarter revenue and platform activity exceeded expectations. Maplebear reported revenue of $1.04 billion, above the $1.03 billion consensus estimate, while gross transaction value and revenue each grew 14% year over year. Adjusted EBITDA rose 19% to $313 million, and GAAP net income reached $111 million. Instacart second-quarter 2026 results
• Positive Sentiment: Management’s outlook supported the bullish case. The company raised its third-quarter revenue outlook above Wall Street expectations, suggesting continued demand for online grocery services. Advertising growth, artificial-intelligence initiatives and expansion with enterprise customers also provided additional growth drivers. CART second-quarter earnings analysis
• Neutral Sentiment: Retailer pricing changes could expand adoption but affect economics. More retailers are offering grocery delivery through Instacart without item markups to appeal to cost-conscious shoppers. The strategy may increase order volume and online grocery penetration, although lower markups could pressure transaction economics. Retailers cut grocery delivery markups
• Negative Sentiment: The earnings miss remains a risk. Adjusted earnings were $0.45 per share, below estimates ranging from $0.54 to $0.55, though earnings increased from $0.41 a year earlier. Guggenheim kept a “neutral” rating and set a $46 target, implying downside from recent levels. CART misses second-quarter earnings estimates

Insiders Place Their Bets

In related news, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the transaction, the director owned 741,523 shares in the company, valued at $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Compound Planning Inc. lifted its stake in shares of Maplebear by 2.8% in the 4th quarter. Compound Planning Inc. now owns 19,347 shares of the company’s stock valued at $870,000 after purchasing an additional 523 shares during the period. Invesco Ltd. increased its stake in shares of Maplebear by 11.2% in the 4th quarter. Invesco Ltd. now owns 1,777,389 shares of the company’s stock valued at $79,947,000 after acquiring an additional 179,459 shares in the last quarter. Corient Private Wealth LLC bought a new stake in shares of Maplebear in the 4th quarter valued at $843,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Maplebear during the 4th quarter valued at $1,206,000. Finally, Vident Advisory LLC acquired a new position in shares of Maplebear during the 4th quarter valued at $221,000. 63.09% of the stock is owned by institutional investors.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.