Maplebear (NASDAQ:CART) Stock Bumped Down to “Market Perform” by Sanford C. Bernstein

Sanford C. Bernstein downgraded shares of Maplebear (NASDAQ:CART) from an outperform rating to a market perform rating in a report published on Friday morning,Benzinga reports. They currently have $65.00 target price on the stock, up from their prior target price of $60.00.

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald cut Maplebear from an “overweight” rating to a “neutral” rating and increased their price target for the company from $63.00 to $65.00 in a research report on Friday. Rosenblatt Securities began coverage on Maplebear in a research report on Tuesday, September 1st. They set a “neutral” rating and a $55.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on Maplebear from $55.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Guggenheim upped their price objective on Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, BNP Paribas Exane raised Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 price objective for the company in a report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $58.33.

Maplebear Price Performance

Shares of NASDAQ:CART opened at $56.45 on Friday. The company’s 50-day moving average price is $49.05 and its two-hundred day moving average price is $43.31. Maplebear has a one year low of $32.73 and a one year high of $62.00. The stock has a market capitalization of $13.07 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 1.12 and a beta of 0.87.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.03). The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. Maplebear had a return on equity of 22.50% and a net margin of 11.59%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, analysts anticipate that Maplebear will post 2.31 earnings per share for the current fiscal year.

Insider Activity at Maplebear

In other news, CEO Chris Rogers sold 24,665 shares of the company’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $60.00, for a total value of $1,479,900.00. Following the sale, the chief executive officer directly owned 867,911 shares of the company’s stock, valued at approximately $52,074,660. This represents a 2.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lisa Blackwood-Kapral sold 3,017 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $47.08, for a total transaction of $142,040.36. Following the completion of the sale, the chief accounting officer directly owned 37,715 shares in the company, valued at approximately $1,775,622.20. The trade was a 7.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 over the last ninety days. Company insiders own 24.00% of the company’s stock.

Institutional Trading of Maplebear

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Maplebear during the 2nd quarter worth approximately $750,477,000. Dimensional Fund Advisors LP increased its holdings in shares of Maplebear by 31.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,981,960 shares of the company’s stock worth $186,618,000 after acquiring an additional 1,189,287 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Maplebear in the 2nd quarter valued at $86,462,000. Deutsche Bank AG bought a new stake in Maplebear in the 2nd quarter valued at $73,801,000. Finally, Goodnow Investment Group LLC bought a new stake in Maplebear in the 2nd quarter valued at $69,898,000. Institutional investors 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, which operates as Instacart, in a cash-and-stock transaction valued at approximately $17 billion. Maplebear shareholders are expected to receive $65 in cash, 0.3372 shares of DoorDash, or a combination subject to proration. The offer provides a potential premium if the transaction closes. Shareholder Alert: The M&A Class Action Firm Announces an Investigation of Maplebear Inc.
• Positive Sentiment: The proposed combination would unite DoorDash’s restaurant-delivery network with Instacart’s grocery platform. Management expects at least $500 million in operational efficiencies and believes greater scale could improve delivery economics and competition with Amazon and Walmart. DoorDash to acquire Instacart for $17B
• Neutral Sentiment: Maplebear’s third-quarter revenue increased 16.6% year over year to roughly $1.1 billion, while earnings rose to $0.60 per share from $0.42. However, earnings missed estimates of approximately $0.63-$0.64 per share. Maplebear Q3 Earnings Miss Estimates
• Negative Sentiment: The wide gap between CART’s trading level and the $65 offer indicates that investors doubt the transaction will close quickly or successfully. The companies expect closing in late 2027 or the first half of 2028, leaving shareholders exposed to regulatory and execution risk for as long as two years. Maplebear also suspended forward guidance and canceled its scheduled earnings call. DoorDash’s $17 Billion Bet on Instacart Faces a Long Regulatory Road Ahead
• Negative Sentiment: Antitrust scrutiny is a major concern because the deal would combine two leading U.S. delivery platforms. Worker advocates and New York City officials have criticized the transaction over possible higher prices, reduced competition and weaker worker bargaining power.
• Negative Sentiment: Several analysts downgraded Maplebear to neutral, equal weight or hold, including Barclays, Needham, Cantor Fitzgerald, Citizens JMP and Bernstein. Although some firms retained $65 price targets, the ratings signal limited confidence in upside before the merger’s outcome is clearer. Law firms have also announced investigations into whether shareholders are receiving a fair price and whether directors fulfilled their fiduciary duties.

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.