Maplebear (NASDAQ:CART) Given New $63.00 Price Target at Needham & Company LLC

Maplebear (NASDAQ:CART) had its price objective hoisted by Needham & Company LLC from $55.00 to $63.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also issued reports on CART. Wells Fargo & Company boosted their price target on Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Wall Street Zen raised shares of Maplebear from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Cantor Fitzgerald lifted their price objective on shares of Maplebear from $56.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday. Raymond James Financial upgraded shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $60.00 target price on shares of Maplebear in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and a consensus price target of $55.14.

Maplebear Trading Up 11.4%

Shares of CART opened at $50.17 on Friday. The firm’s fifty day simple moving average is $44.97 and its two-hundred day simple moving average is $40.89. Maplebear has a 12 month low of $32.73 and a 12 month high of $53.50. The stock 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.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). Maplebear had a return on equity of 19.34% and a net margin of 11.97%.The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business posted $0.41 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. As a group, research analysts predict that Maplebear will post 2.47 EPS for the current fiscal year.

Insider Activity at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the transaction, the director directly owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This represents a 19.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 24.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Maplebear

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Maplebear in the second quarter valued at $750,477,000. State Street Corp boosted its stake in Maplebear by 1.0% during the 4th quarter. State Street Corp now owns 5,461,637 shares of the company’s stock valued at $245,664,000 after purchasing an additional 54,872 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 purchasing an additional 1,189,287 shares in the last quarter. Viking Global Investors LP purchased a new stake in shares of Maplebear in the second quarter worth approximately $169,782,000. Finally, Geode Capital Management LLC raised its stake in shares of Maplebear by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,526,124 shares of the company’s stock worth $158,640,000 after purchasing an additional 54,010 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Key Stories Impacting Maplebear

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

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.