Maplebear (CART) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving. Analysts' growing optimism on the earnings prospects of this operator of the Instacart online grocery is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revis ...

SAN FRANCISCO, Aug. 27, 2024 /PRNewswire/ -- Instacart (NASDAQ: CART) today announced that Fidji Simo, CEO and Chair, will participate in a fireside chat at the Goldman Sachs Communacopia & Technology Conference on Tuesday, September 10, 2024 at 2:25 p.m. PT. An audio webcast of the event will be available on Instacart's Investors Relations website at https://investors.instacart.com/. About Instacart Maplebear Inc. dba Instacart, the leading grocery technology company in North America, works with grocers an ...

Shares of Maplebear (CART) have gained 1.1% over the past four weeks to close the last trading session at $34.47, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $43.95 indicates a potential upside of 27.5%. The average comprises 19 short-term price targets ranging from a low of $32 to a high of $52, with a standard deviation of $4.98. While the lowest estimate indicates a decli ...

Organizations also share Good Food at Home program impact results from more than 1,100 families served in Denver; Englewood, New Jersey; Milwaukee; and Washington, D.C. and announce expansion to more than 1,000 additional families in Chicago; New Orleans; and Wichita, Kansas SAN FRANCISCO and WASHINGTON, Aug. 14, 2024 /PRNewswire/ -- Instacart (NASDAQ: CART), the leading grocery technology company in North America, and Partnership for a Healthier America (PHA), the nation's leading nonprofit working to impr ...

Maplebear Today CART Maplebear $32.15 -0.20 (-0.62%) 52-Week Range $22.13 ▼ $42.95 Price Target $42.70 Add to Watchlist Online grocery marketplace and delivery service company Maplebear Inc. NASDAQ: CART operates as Instacart. Instacart has had over 25 million people use its service in the past year. Its network of retailers expanded to over 600 brands and 800,000 store locations, going beyond just grocery stores to include retailers like Sally Beauty Holdings Inc. NYSE: SBH and The Home Depot NYSE: HD. Des ...

Financial Performance - In Q2 2024, Instacart reported 70.8 million orders, a 7% increase compared to Q2 2023, driven by new customer acquisition and increased engagement [110]. - Gross Transaction Value (GTV) reached $8,194 million in Q2 2024, reflecting a 10% growth year-over-year, primarily due to increased order volume and higher average order value [111]. - Revenue for Q2 2024 was $823 million, marking a 15% increase from the same quarter in 2023 [109]. - Gross profit increased to $623 million in Q2 2024, an 18% growth compared to Q2 2023, with gross margin rising from 74% to 76% [112]. - Adjusted EBITDA for Q2 2024 was $208 million, representing an 89% increase year-over-year, with an Adjusted EBITDA margin of 25% [112]. - Net income for Q2 2024 was $61 million, down from $114 million in Q2 2023, reflecting a decrease of 46% [129]. - Advertising and other revenue increased by 11% in Q2 2024, reaching $228 million compared to $206 million in Q2 2023 [136]. - Gross profit for the first six months of 2024 was $1,237 million, reflecting a 12% increase compared to $1,109 million in the same period of 2023 [138]. - Adjusted EBITDA for the six months ended June 30, 2024, was $406 million, with a margin of 25% [155]. - The company reported a revenue of $716 million for Q2 2023, with a net income of $114 million [155]. Operating Expenses - Total operating expenses increased to $571 million in Q2 2024, up from $408 million in Q2 2023, representing a 40% increase [129]. - Research and development expenses rose to $185 million in Q2 2024, up from $130 million in Q2 2023, a 42% increase [129]. - Sales and marketing expenses increased to $203 million in Q2 2024, compared to $166 million in Q2 2023, a 22% increase [129]. - General and administrative expenses increased by 66% to $212 million in the first six months of 2024, largely due to higher accruals for taxes and compensation costs [145]. - The total operating expenses for the six months ended June 30, 2024, were $1,041 million, with total operating expenses as a percent of GTV at 6.3% [167]. - The adjusted total operating expenses for the six months ended June 30, 2024, were $850 million, with adjusted total operating expenses as a percent of GTV at 5.1% [167]. Cash Flow and Capital Resources - For the six months ended June 30, 2024, net cash provided by operating activities was $349 million, compared to $242 million for the same period in 2023, representing a 44.3% increase [173][174]. - The company reported cash and cash equivalents of $1.4 billion and marketable securities of $9 million as of June 30, 2024 [168]. - The company may require additional capital resources to execute strategic initiatives for growth, influenced by various operational factors [171]. - The board of directors authorized a new share repurchase program in June 2024 to purchase up to an aggregate of $500 million of common stock [170]. - For the six months ended June 30, 2024, net cash used in financing activities was $1,055 million, primarily due to repurchases of common stock totaling $1,040 million [177]. Market and Economic Factors - The company anticipates continued impacts from macroeconomic factors such as inflation and rising interest rates, affecting order volumes and customer acquisition [102]. - Inflationary pressures have negatively impacted consumer demand for online grocery, leading to reduced order frequency and lower average order values [185]. - Instacart's advertising revenue is expected to fluctuate due to seasonal trends, with historically higher revenue in Q4 and lower in Q1 [116]. Legal and Regulatory Challenges - The classification of Instacart shoppers as independent contractors remains subject to legal and regulatory challenges, which could impact the company's financial condition [107]. Shareholder Actions - During the six months ended June 30, 2024, the company repurchased and retired 35 million shares of common stock for an aggregate purchase price of $1,040 million [170].

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today: Lightspeed POS (LSPD) : This company which provides one-stop commerce platform for merchants, has seen the Zacks Consensus Estimate for its current year earnings increasing 13.8% over the last 60 days. Maplebear Inc. (CART) : This grocery technology company which works with grocers and retailers to transform how people shop principally in North America, has seen the Zacks Consensus Estimate for its current year earnings increasing 5.9% ...

Financial Data and Key Metrics Changes - The company reported a 10% year-over-year growth in Gross Transaction Value (GTV) for Q2 2024, marking the third consecutive quarter of positive GAAP net income at $61 million, despite a quarter-over-quarter decline due to stock-based compensation noise and restructuring reversals [5][16][18] - Adjusted EBITDA reached $208 million, up 89% year-over-year, and operating cash flow increased by 42% year-over-year to $244 million [16][18] Business Line Data and Key Metrics Changes - GTV growth was driven by a 7% increase in order growth and a 3% rise in average order value (AOV), with basket size being a key driver of outperformance [14][15] - Advertising and other revenue grew by 11% year-over-year, primarily due to the increase in active brands on the platform, which surpassed 6,000 [15][16] Market Data and Key Metrics Changes - The company maintains a leading market share with over 50% in small baskets and over 70% in large baskets, which represent 75% of the industry and a significant portion of profits [22][23] - The enterprise platform accounted for about 20% of Instacart orders, indicating a growing integration with retailers [9] Company Strategy and Development Direction - The company is focused on deepening retailer integrations and expanding its enterprise platform, which is seen as a critical part of its growth strategy [6][12] - The launch of AI-powered technologies and in-store solutions, such as Caper Carts and Carrot Tags, is aimed at enhancing customer experience and driving adoption [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate shareholder value over time, citing strong operating fundamentals and a disciplined approach to financial performance [13][18] - The outlook for Q3 2024 includes a GTV guidance of $8.1 billion to $8.25 billion, representing year-over-year growth of 8% to 10% [17] Other Important Information - The company completed its initial $1 billion share repurchase program and authorized an additional $500 million buyback [18] - The partnership with Uber Eats is expected to accelerate restaurant adoption and enhance overall customer engagement [34] Q&A Session All Questions and Answers Question: How is the company dividing resources around customer acquisition and retention? - The company is focused on both new customer acquisition and habituating existing customers, utilizing a portfolio of marketing tactics to achieve this [20][21] Question: What is the competitive environment like? - The company maintains a strong competitive position with significant market share and is not seeing much change in the competitive landscape [22][23] Question: What is the outlook for the advertising environment? - The company is experiencing a pullback from large brands but is offsetting this with growth from emerging brands, which now number over 6,000 [27] Question: Can you elaborate on the recent partnerships with Uber Eats and Chase? - The partnership with Uber Eats is driving faster restaurant adoption, while the Chase partnership is being refocused to target new customer acquisition [34][37] Question: What is driving the increase in average order value? - The increase in AOV is attributed to new customer cohorts reaching larger basket sizes and a higher mix of club orders [40][41] Question: How is the company performing with non-grocery merchants? - The company is onboarding more non-grocery retailers, which is contributing to customer engagement and Instacart+ membership growth [44][46] Question: What are the trends in cohort behavior? - Cohorts are showing improved engagement, with strategies in place to deepen customer relationships and increase order frequency [50][51] Question: What is the outlook for take rates? - Take rates have expanded due to improved shopper efficiencies and increased order density, driven by the integration of marketplace and enterprise solutions [79][82]

SAN FRANCISCO, Aug. 6, 2024 /PRNewswire/ -- Instacart (NASDAQ: CART) today released financial results for its second quarter ended June 30, 2024. These financial results are available within Instacart's second quarter 2024 Shareholder Letter, which can be found on the company's Investor Relations website at https://investors.instacart.com/. Instacart management will host a conference call to discuss the company's results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) today. To access a live webcast of t ...

Financial Performance - Q2 2024 achieved GTV of $8,194 million, a 10% increase year-over-year, with total revenue of $823 million, up 15% year-over-year[22] - Orders reached 70.8 million, reflecting a 7% increase year-over-year, while transaction revenue was $595 million, up 17% year-over-year[22] - Adjusted EBITDA rose to $208 million, an 89% increase year-over-year, representing 25% of total revenue[22] - Total revenue for Q2 24 reached $823 million, reflecting a 15% year-over-year growth, driven by GTV growth and increases in transaction and advertising revenue[23] - GAAP gross profit for Q2 24 was $623 million, an 18% increase year-over-year, representing 7.6% of GTV and 76% of total revenue[25] - GAAP net income for Q2 24 was $61 million, down $53 million year-over-year, primarily due to increased stock-based compensation[28] - Revenue for Q2 2024 reached $823 million, a 15% increase from $716 million in Q2 2023[52] - Gross profit for Q2 2024 was $623 million, up from $527 million in Q2 2023, reflecting an 18% growth[52] - Net income for Q2 2024 was $61 million, down from $114 million in Q2 2023, indicating a 46% decrease[52] User Engagement and Growth - Approximately 25 million people used Instacart's service over the past year, indicating significant user engagement potential[2] - Instacart added hundreds of thousands of restaurants through a partnership with Uber Eats, enhancing grocery selection and increasing order frequency[2] - Over 1 million business customers placed orders in the last year, with enterprise partnerships launched in Q2, indicating strong B2B growth potential[4] - The number of orders increased from 66.3 million in Q2 2023 to 70.8 million in Q2 2024, representing a growth of 6.8%[54] Advertising and Revenue Streams - Instacart's advertising revenue reached $228 million, up 11% year-over-year, representing 2.8% of GTV[22] - Advertising & other revenue for Q2 24 was $228 million, an 11% increase year-over-year, maintaining a consistent investment rate of 2.8% of GTV[24] Operational Efficiency - The "perfect order fill rate" improved by over 11 percentage points compared to 2022, marking nine consecutive quarters of year-over-year improvement[7] - Adjusted total operating expenses as a percent of GTV increased, indicating a rise in operational costs relative to revenue[46] - Total operating expenses for Q2 2024 were $571 million, compared to $408 million in Q2 2023, representing a 40% increase[52] - GAAP total operating expenses for Q2 24 were $571 million, representing 7.0% of GTV, up from 5.5% in Q2 23, largely due to stock-based compensation[27] Future Projections - The company expects Q3 24 GTV to be between $8,100 million and $8,250 million, indicating year-over-year growth of 8% to 10%[29] - Adjusted EBITDA guidance for Q3 24 is projected to be between $205 million and $215 million, reflecting year-over-year growth[29] Cash and Assets - Cash and cash equivalents as of June 30, 2024, were $1,434 million, a decrease from $2,137 million as of December 31, 2023[49] - Total current assets increased to $3,305 million as of June 30, 2024, compared to $2,585 million as of December 31, 2023[49] - Total liabilities as of June 30, 2024, were $806 million, slightly up from $800 million as of December 31, 2023[50] - The company reported an increase in accounts receivable, net, to $888 million as of June 30, 2024, from $853 million as of December 31, 2023[49] Research and Development - Research and development expenses for Q2 2024 were $185 million, a 42% increase from $130 million in Q2 2023[52] - Research and development expenses for Q2 2023 were $130 million, which surged to $1,850 million in Q2 2024, a substantial increase of 1,323%[55]