Added to YB: 2024-05-10
Pitch date: 2024-05-06
CART [bullish]
Maplebear Inc.
+9.56%
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
$9.0B
Pitch Price
$37.44
Price Target
N/A
Dividend
N/A
EV/EBITDA
15.55
P/E
23.35
EV/Sales
2.26
Sector
Consumer Staples Distribution and Retail
Category
growth
Maplebear Inc. aka Instacart (CART)
CART: Leading NA online grocery platform at 12% penetration of $1.1T market. Accelerating growth: Q1 '24 GTV +8.5% YoY (4th straight Q of accel). 70% share of $75+ orders, 50% of sub-$75. Loyal base: orders & spend 2x from Y1 to Y6. Trades at 60% discount to gig peers despite superior unit econ. Asset-light model enables FCF (7.3% yield). $2.1B net cash for buybacks (auth. 10% of mkt cap) & growth. Sequoia owns 54M shares.
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