Instacart projects key Q2 metrics above estimates, names new CFO [Reuters]
Maplebear Inc. (CART)
US:NASDAQ Investor Relations:
snl.com/irw/corporateprofile/4715924
Company Research
Source: Reuters
May 8 (Reuters) - Instacart forecast its second-quarter gross transaction value (GTV) and core profit above estimates on Wednesday, helped by a surge in grocery orders as well as higher fees for the advertisements it showcases on its grocery delivery platform. Shares of the company were down about 4% in extended trading. They have been up nearly 60% this year. "Short-term investors were hoping for bigger growth out of a young company, but the reality is that Instacart is no longer an upstart but a mature player that commands a considerable share of the online grocery market," said Emarketer analyst Blake Droesch. Report this ad The San Francisco-based firm also said that former Uber executive Emily Reuter would succeed Nick Giovanni as its new finance chief, effective immediately. The company expects current-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) between $180 million and $190 million, midpoint of which is above estimates of
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CART
News
- Here's how much more chocolate lovers in NYC are paying for the treat than the rest of the country [Yahoo! Finance]Yahoo! Finance
- Maplebear Inc. (NASDAQ: CART) had its price target raised by analysts at Loop Capital from $46.00 to $49.00. They now have a "buy" rating on the stock.MarketBeat
- GrubMarket buys Butter to give its food distribution tech an AI boost [Yahoo! Finance]Yahoo! Finance
- Actor and model Angie Harmon is suing Instacart and a former shopper who killed her dog—'I think Instacart is beyond responsible for all of this' [Fortune]Fortune
- Maplebear (CART) Loses -9.63% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner [Yahoo! Finance]Yahoo! Finance
CART
Earnings
- 5/8/24 - Beat
CART
Sec Filings
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- CART's page on the SEC website