Maplebear, Inc. (CART)

Yesterday (12/16), Maplebear, d/b/a Instacart (CART; $42.18; E/W), announced it is now offering several new supplier and merchant solutions to Instacart Business users on its platform. Recall, CART’s higher margin Instacart Business offering allows customers…

We adjust our 2024/2025E EBITDA for Maplebear, d/b/a Instacart (CART; $48.34; E/W), from $855mm (2.6% of GTV)/$960mm (2.7% of GTV) to $865mm (2.6% of GTV) and $975mm (2.8% of GTV) after the company reported solid…

Maplebear, doing business as Instacart, (CART; $48.34; E/W), posted Q3 adjusted EBITDA of $227mm (2.7% of GTV), which was ahead of our forecast of $211mm (2.6% of GTV) and the Street’s $212mm (2.6% of GTV)….

We think recent news out of Maplebear, doing business as Instacart (CART; $42.14; E/W), provides further support for longer term operating leverage available to the company from its advertising offering ($910mm of LTM sales or…

Recent news flow out of Maplebear, doing business as Instacart (CART; $32.01; E/W), provides further support for the idea that the company is enabling a wider range of avenues for deepening relationships with existing retail…

We raise our 2024/2025E EBITDA for Maplebear, doing business as Instacart (CART; $31.43; E/W) from $825mm/$915mm to $855mm/$960mm after it produced a solid “beat and meet” while warning that a recent YTD acceleration in top…

Maplebear, doing business as Instacart, (CART; $31.43; E/W) posted Q2 adjusted EBITDA of $208mm (2.5% of GTV), which beat our forecast of $185mm (2.3% of GTV) and the Street’s $187mm (2.3% of GTV). Sales of…

We think Street estimates for Maplebear, doing business as Instacart (CART; $34.25; E/W) and scheduled to report Q2 results next Thursday, (8/8 after market) are basically set appropriately. We peg Q2E Gross Transaction Value (GTV)…

We think recent news flow out of Maplebear, doing business as Instacart (CART; $32.00; E/W), provides further support for longer term operating leverage available to the company from its high-margin advertising business, albeit in the…

Yesterday (6/6), the shares of Maplebear, doing business as Instacart (CART; $33.78; E/W), jumped 9% after it disclosed in an 8-K filing that its Board approved a new share repurchase authorization on June 2nd of…

We raise our 2024/2025E EBITDA for Maplebear, doing business as Instacart (CART; $37.48; E/W), from $700mm/$790mm to $825mm/$915mm after it comfortably exceeded Q1 expectations on some better-than-expected seasonality with good execution that is translating into…

Maplebear, doing business as Instacart, (CART; $37.48; E/W) posted Q1 adjusted EBITDA of $198mm (2.4% of GTV), which was well ahead of our forecast of $160mm (2.0% of GTV) and the Street’s $158mm (1.9% of…

The shares of Maplebear, doing business as Instacart (CART; $33.59; E/W), are down 7% today and have now retreated 14% from recent highs (vs. +43% YTD) on news that Amazon (AMZN; $179.62; NR) is offering…

We lower our rating from Outperform to Equal-Weight on the shares of Maplebear, which is doing business as Instacart (CART; $37.29; O/P). The stock is now up 59% in just the three months since our…

We bump up 2024/2025E adjusted EBITDA for Maplebear, doing business as Instacart (CART: $25.40; O/P) from $680mm (2.1% of GTV) and $770mm (2.3% of GTV) to $700mm (2.1% of GTV) and $790mm (2.3% of GTV)…