Maplebear

CART · NASDAQ

$50.76+$0.85 (+1.70%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $49.91

CART analyst rating

BuyConsensus of 16 analysts over the last 12 months. 81% rate it a buy.

Strong buy0
Buy13
Hold3
Underperform0
Sell0

12-month price target · 31 analysts

Average $58.59 (+15.4% upside)

Low: $45.26
Now: $50.76
High: $80.85

Upgrades and downgrades

The latest rating actions, newest first

CART analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Wells Fargo	Oct 5, 2026	Maintains	Equal-Weight	$54.00 → $56.00	55%
Argus Research	Sep 2, 2026	Maintains	Buy	$50.00 → $58.00	51%
Rosenblatt	Sep 1, 2026	Initiates	Neutral	$55.00	62%
Citigroup	Aug 10, 2026	Maintains	Buy	$50.00 → $58.00	56%
Barclays	Aug 7, 2026	Maintains	Overweight	$69.00 → $77.00	62%
Benchmark	Aug 7, 2026	Maintains	Buy	$55.00 → $63.00	44%
Guggenheim	Aug 7, 2026	Maintains	Neutral	$44.00 → $46.00	28%
JP Morgan	Aug 7, 2026	Maintains	Overweight	$55.00 → $62.00	68%
Wells Fargo	Aug 7, 2026	Maintains	Equal-Weight	$47.00 → $54.00	55%
Oppenheimer	Aug 7, 2026	Maintains	Outperform	$60.00 → $65.00	62%

The case for and against

Updated Oct 17, 2026

Bull case

Maplebear is supported by a widening growth engine that combines leading third-party grocery marketplace scale with a faster-growing enterprise technology and advertising stack. It connects more than 2.2K retail banners and 100K stores to 26mm+ customers, generated $37.2B of GTV in 2025, and in 2Q produced $746mm of transaction revenue, $297mm of advertising revenue, and a 10.1% combined take rate. The company’s outlook is strengthened by 16% Y/Y advertising growth in 1H26, 380+ Storefront Pro sites, 2Q order growth of about 9%, and international expansion through Instaleap into France, Spain, and the UK.

Bear case

Maplebear is facing a structural competitive squeeze as Amazon and Walmart deepen grocery investments, eroding Instacart’s share among third-party grocery intermediaries from roughly 70% in 2022 to an estimated 58% in 2025 and pressuring valuation relative to peers. Its fundamentals remain solid but not enough to offset the risk: 2Q GTV rose to $10.4B and revenue to $1.0B, yet GAAP EPS of $0.45 missed expectations by about $0.09, while intermediate-term estimates are below consensus. The outlook is further weakened by modest exposure to AI-driven disintermediation, concentration among a small number of retail partners, and the possibility that online grocery growth, advertising, and margin expansion all slow as competition intensifies.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.