Added to YB: 2026-04-08
Pitch date: 2026-04-05
CART [bullish]
Maplebear Inc.
+0.74%
current return
Author Info
No bio for this author
Company Info
Maplebear Inc., doing business as Instacart, operates as a technology and enablement partner for the grocery industry in the United States and internationally.
Market Cap
$9.3B
Pitch Price
$38.96
Price Target
90.00 (+129%)
Dividend
N/A
EV/EBITDA
16.19
P/E
24.25
EV/Sales
2.35
Sector
Consumer Staples Distribution and Retail
Category
growth
$CART Memo
CART: eGrocery entering shakeout phase with CART's large-basket dominance (75% of grocery spend, >$75 AOV) creating density flywheel. 3P model price-advantaged vs 1P (AMZN Fresh +18% more expensive despite higher delivery costs). FY'28 path to $90/sh, +33% 3yr IRR on 15x EBIT (vs 11.5x today). +12% rev CAGR, margins expanding to 24% (vs 15% FY'25) as incremental OpEx leverage hits 50%. Risks: spend fragmentation, price sensitivity, AI agents eroding UX moat.
Read full article (12 min)