Maplebear (NASDAQ:CART) Posts Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Maplebear (NASDAQ:CART) released its quarterly earnings results on Thursday. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09), Zacks reports. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Maplebear had a return on equity of 19.34% and a net margin of 11.97%.The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 EPS.

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

• Q2 performance was strong, with GTV and total revenue both rising 14% year over year to $10.35 billion and $1.04 billion, respectively. Advertising and other revenue grew 16%, outpacing GTV growth.
• Profitability and cash generation improved, with adjusted EBITDA up 19% to $313 million, operating cash flow up 143% to $493 million, and free cash flow up 156% to $480 million. Instacart repurchased $325 million of shares and retains nearly $1 billion in buyback capacity.
• Management cited accelerating customer acquisition, improving order accuracy for the 16th consecutive quarter, strong enterprise adoption, and continued expansion of advertising and international offerings. The AI shopping assistant is expected to launch across North America and is already producing larger-than-average baskets.
• GAAP net income declined 4% year over year to $111 million, while GAAP gross profit as a percentage of GTV fell to 7.3% from 7.5%, partly due to higher publisher payments and stock-based compensation.
• Q3 guidance calls for GTV of $10.3 billion-$10.55 billion and adjusted EBITDA of $320 million-$340 million, both representing approximately 14% and 19% year-over-year growth at the midpoint. The company widened its guidance ranges and said it now expects results to land within the ranges, with the midpoint as its best estimate.

Maplebear Trading Up 11.4%

Shares of CART traded up $5.14 during mid-day trading on Friday, hitting $50.17. The company’s stock had a trading volume of 14,310,675 shares, compared to its average volume of 3,686,009. Maplebear has a 1-year low of $32.73 and a 1-year high of $53.50. The firm has a market capitalization of $11.79 billion, a P/E ratio of 27.42, a P/E/G ratio of 0.61 and a beta of 0.78. The firm has a 50-day simple moving average of $44.97 and a 200 day simple moving average of $40.89.

Analyst Ratings Changes

CART has been the subject of a number of recent research reports. Cantor Fitzgerald increased their price objective on Maplebear from $56.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday. BNP Paribas Exane raised Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 target price on the stock in a report on Friday. Barclays upped their price target on Maplebear from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday. Oppenheimer increased their price target on Maplebear from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Weiss Ratings upgraded shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $55.27.

Insiders Place Their Bets

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the transaction, the director owned 741,523 shares in the company, valued at approximately $30,780,619.73. This represents a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 24.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Maplebear

Several institutional investors have recently made changes to their positions in CART. PenderFund Capital Management Ltd. acquired a new position in shares of Maplebear during the 4th quarter worth $27,000. Allworth Financial LP lifted its stake in shares of 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 purchasing an additional 244 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of 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 purchasing an additional 787 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in shares of 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 purchasing an additional 482 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in Maplebear by 71.6% during the first quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock worth $67,000 after buying an additional 698 shares in the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Maplebear

Here are the key news stories impacting Maplebear this week:

• Positive Sentiment: Analyst sentiment improved significantly. Barclays raised its price target from $69 to $77 and maintained an “overweight” rating. JPMorgan, Oppenheimer, Cantor Fitzgerald, Benchmark and Needham also increased their targets, generally citing growth prospects and assigning bullish ratings. Analyst price-target updates
• Positive Sentiment: Second-quarter revenue and platform activity exceeded expectations. Maplebear reported revenue of $1.04 billion, above the $1.03 billion consensus estimate, while gross transaction value and revenue each grew 14% year over year. Adjusted EBITDA rose 19% to $313 million, and GAAP net income reached $111 million. Instacart second-quarter 2026 results
• Positive Sentiment: Management’s outlook supported the bullish case. The company raised its third-quarter revenue outlook above Wall Street expectations, suggesting continued demand for online grocery services. Advertising growth, artificial-intelligence initiatives and expansion with enterprise customers also provided additional growth drivers. CART second-quarter earnings analysis
• Neutral Sentiment: Retailer pricing changes could expand adoption but affect economics. More retailers are offering grocery delivery through Instacart without item markups to appeal to cost-conscious shoppers. The strategy may increase order volume and online grocery penetration, although lower markups could pressure transaction economics. Retailers cut grocery delivery markups
• Negative Sentiment: The earnings miss remains a risk. Adjusted earnings were $0.45 per share, below estimates ranging from $0.54 to $0.55, though earnings increased from $0.41 a year earlier. Guggenheim kept a “neutral” rating and set a $46 target, implying downside from recent levels. CART misses second-quarter earnings estimates

About Maplebear

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.