Maplebear (NASDAQ:CART) Downgraded by Wedbush to “Hold”

Maplebear (NASDAQ:CART) was downgraded by equities research analysts at Wedbush from a “strong-buy” rating to a “hold” rating in a research note issued on Friday, Zacks reports.

A number of other equities research analysts also recently weighed in on the company. Oppenheimer upped their target price on Maplebear from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Guggenheim boosted their target price on Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Benchmark upped their target price on Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a report on Friday, August 7th. Sanford C. Bernstein lowered shares of Maplebear from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $60.00 to $65.00 in a research note on Friday. Finally, Rosenblatt Securities started coverage on shares of Maplebear in a research note on Tuesday, September 1st. They set a “neutral” rating and a $55.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, Maplebear has an average rating of “Hold” and an average price target of $58.33.

Maplebear Price Performance

Shares of CART opened at $56.45 on Friday. The company has a market cap of $13.07 billion, a P/E ratio of 29.40, a PEG ratio of 1.12 and a beta of 0.87. The stock has a fifty day moving average price of $49.05 and a 200 day moving average price of $43.31. Maplebear has a 12 month low of $32.73 and a 12 month high of $62.00.

Maplebear (NASDAQ:CART) last released its quarterly 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). 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 22.50% and a net margin of 11.59%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 EPS. As a group, research analysts anticipate that Maplebear will post 2.31 earnings per share for the current year.

Insider Transactions at Maplebear

In other Maplebear news, 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 value of $7,591,500.00. Following the completion of the sale, the director owned 591,523 shares of the company’s stock, valued at $29,936,979.03. The trade was a 20.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chris Rogers sold 24,665 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $60.00, for a total value of $1,479,900.00. Following the sale, the chief executive officer owned 867,911 shares of the company’s stock, valued at approximately $52,074,660. This trade represents a 2.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 309,928 shares of company stock valued at $16,121,073 in the last three months. 24.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Maplebear

Large investors have recently added to or reduced their stakes in the stock. NFSG Corp acquired a new position in Maplebear during the third quarter valued at approximately $26,000. Root Financial Partners LLC acquired a new stake in shares of Maplebear in the third quarter worth $27,000. CX Institutional lifted its stake in shares of Maplebear by 91.5% in the third quarter. CX Institutional now owns 944 shares of the company’s stock worth $41,000 after buying an additional 451 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Maplebear by 94.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,215 shares of the company’s stock worth $58,000 after buying an additional 591 shares during the period. Finally, Allworth Financial LP bought a new stake in shares of Maplebear during the 2nd quarter worth $62,000. Institutional investors own 63.09% of the company’s stock.

Maplebear News Summary

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.

About Maplebear

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.