Added to YB: 2024-05-10
Pitch date: 2024-05-06
CART [bullish]
Maplebear Inc.
+20.09%
current return
Author Info
No bio for this author
Company Info
Maplebear Inc., doing business as Instacart, engages in the provision of online grocery shopping services to households in North America.
Market Cap
$10.3B
Pitch Price
$37.44
Price Target
N/A
Dividend
N/A
EV/EBITDA
14.47
P/E
21.61
EV/Sales
2.40
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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