Maplebear (NASDAQ:CART) Posts Earnings Results, Hits Expectations

Maplebear (NASDAQ:CART) posted its quarterly earnings data on Wednesday. The company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57, FiscalAI reports. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Maplebear had a return on equity of 16.28% and a net margin of 11.89%.The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 EPS.

Here are the key takeaways from Maplebear’s conference call:

• Strong Q1 results: GTV $10.29B (+13%), total revenue $1.02B (+14%)$144M (+36%), adjusted EBITDA $300M (+23%), and repurchased $349M of stock with a $1B buyback authorization increase.
• Advertising and enterprise momentum: advertising & other revenue grew 16% (fastest since Q3’23), Carrot Ads expanded to >310 partners and 9,000+ brands are active, while Storefront Pro now powers 380+ retailer sites and enterprise deals (including Costco, Aldi) are accelerating.
• AI and product innovation are core growth drivers: testing Cart Assistant with ~25% of U.S. customers, integrating with ChatGPT/Claude, and rolling out AI-powered search and generative recommendations that boost discovery, basket build and ad relevance.
• Guidance and margin dynamics are mixed: Q2 GTV guide of $10.1B–$10.25B and adjusted EBITDA $290M–$300M; management expects EBITDA to grow faster than GTV over the year but at a moderating rate, while Q1 saw one-time items (Canada DST repeal benefit) and GAAP gross profit % pressured by publisher payments and a $60M regulatory settlement impacting FCF.

Maplebear Stock Down 4.8%

Shares of Maplebear stock traded down $1.94 on Thursday, hitting $38.22. 3,236,143 shares of the company were exchanged, compared to its average volume of 4,743,733. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 0.67 and a beta of 0.96. The company has a 50-day moving average price of $39.22 and a 200 day moving average price of $39.90. Maplebear has a 1-year low of $32.73 and a 1-year high of $53.50.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CART. Jefferies Financial Group raised Maplebear from a “hold” rating to a “buy” rating and lifted their price target for the stock from $38.00 to $45.00 in a research report on Monday, March 30th. Raymond James Financial raised Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. Cantor Fitzgerald lifted their price target on Maplebear from $45.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. BNP Paribas Exane initiated coverage on Maplebear in a research note on Wednesday, January 14th. They issued an “underperform” rating and a $41.00 price target for the company. Finally, Barclays boosted their price objective on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.39.

Key Stories Impacting Maplebear

Here are the key news stories impacting Maplebear this week:

• Positive Sentiment: Barclays raised its price target to $69 and upgraded CART to “overweight,” implying a large upside versus current levels — a meaningful buy-side endorsement. Article Title
• Positive Sentiment: Needham reaffirmed its “buy” rating and kept a $55 price target, signaling continued analyst confidence in the company’s growth trajectory. Article Title
• Positive Sentiment: Instacart reported Q1 results showing revenue of ~$1.02B (up ~13.6% YoY) and EPS roughly in line with consensus; management also flagged strong demand and forecasted Q2 GTV above expectations — this drives the fundamental bullish case. Article Title
• Positive Sentiment: Maplebear secured a $500 million unsecured revolving credit facility, improving liquidity and optionality for growth or M&A. Article Title
• Positive Sentiment: Coverage on product strategy: Instacart is rolling out AI-driven “personal shopper” features (meal planning, basket suggestions) that leverage its decade of grocery data — a potential long-term revenue/engagement tailwind. Article Title
• Neutral Sentiment: Wells Fargo raised its price target slightly to $47 but kept an “equal weight” rating, signaling a more cautious outlook relative to other upward revisions. Article Title
• Neutral Sentiment: Full Q1 call transcript and slide deck are available for deeper detail on margins, GTV, and segment trends — useful for investors parsing guidance and unit economics. Maplebear Inc. (CART) Q1 2026 Earnings Call Transcript
• Negative Sentiment: Zacks highlighted that Q1 EPS was $0.57 vs. their $0.58 estimate (a $0.01 miss), which may have tempered enthusiasm among short‑term traders despite otherwise healthy top‑line growth. Article Title

Insider Activity at Maplebear

In other news, General Counsel Morgan Fong sold 126,083 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the transaction, the general counsel directly owned 386,643 shares in the company, valued at $14,340,588.87. The trade was a 24.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the transaction, the chief accounting officer owned 58,971 shares in the company, valued at approximately $2,373,582.75. This represents a 13.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 144,863 shares of company stock worth $5,418,135. Insiders own 24.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CART. PenderFund Capital Management Ltd. acquired a new position in Maplebear in the fourth quarter valued at approximately $27,000. Allworth Financial LP lifted its holdings in Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after acquiring an additional 244 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in Maplebear by 212.7% in the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after acquiring an additional 787 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in Maplebear by 49.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,462 shares of the company’s stock valued at $66,000 after acquiring an additional 482 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Maplebear by 71.6% in the first quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock valued at $67,000 after acquiring an additional 698 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Company Profile

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.