Instacart Grows Stronger: S&P MidCap 400 Inclusion, Ulta Partnership Boosts Stock
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 08 2025
0mins
Source: Benzinga
Maplebear Inc. (Instacart) Stock Update: Maplebear Inc., known for its online grocery delivery service Instacart, is set to join the S&P MidCap 400 index, replacing Enovis Corporation, with CART stock gaining over 92% in the past year.
Partnership with Ulta Beauty: Instacart has partnered with Ulta Beauty to offer same-day delivery from over 1,400 locations, integrating Ulta Rewards into the Instacart app and providing new customers with discounts on orders.
Analyst Views on CART
Wall Street analysts forecast CART stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CART is 50.75 USD with a low forecast of 40.00 USD and a high forecast of 66.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
23 Analyst Rating
13 Buy
9 Hold
1 Sell
Moderate Buy
Current: 39.810
Low
40.00
Averages
50.75
High
66.00
Current: 39.810
Low
40.00
Averages
50.75
High
66.00
About CART
Maplebear Inc., doing business as Instacart, is a grocery technology company in North America, works with grocers and retailers to transform how people shop. The Company partners with more than 1,800 national, regional, and local retail banners to facilitate online shopping, delivery and pickup services from more than 100,000 stores across North America on the Instacart Marketplace. The Instacart Platform offers retailers a suite of enterprise-grade technology products and services to power their e-commerce experiences, fulfill orders, digitize brick-and-mortar stores, provide advertising services, and glean insights. With Instacart Ads, thousands of consumer-packaged goods (CPG) brands - from category leaders to emerging brands - partner with the Company to connect directly with consumers online, right at the point of purchase. The Company, through its Instacart Health, provides tools to increase nutrition security and make healthy choices easier for consumers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
