Maplebear, Inc. (CART)

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)…

This morning, Maplebear, doing business as Instacart (CART; $24.46; O/P) announced a new partnership with Amazon’s (AMZN; $170.53; NR) Whole Foods Market Canada to offer on-demand grocery delivery to consumers in Canada. Our checks suggest…