CART Stock Forecast & Price Target

Maplebear (Instacart) displays a strong growth trajectory, evidenced by Kroger's reported 16% increase in eCommerce business, which is supported by their partnership with Instacart, leading to higher household and order frequency. The substantial reach of Instacart, delivering to approximately 98% of households in the U.S. and Canada, positions it favorably to leverage valuable consumer data to attract consumer-packaged-goods advertisers at critical buying moments. Moreover, the anticipated growth in gross transaction value (GTV) suggests a robust outlook, as rising revenues could enhance operating leverage and provide a substantial runway for advertising revenue scalability.

Maplebear, operating as Instacart, has demonstrated a concerning decline in gross profit per order (GP/order), which has dropped by 7% year-over-year, contrasting negatively with competitors such as DoorDash and Uber, who reported increases. Additionally, the company's web traffic has declined by approximately 14% year-over-year in the third quarter of 2025, indicating potential issues with customer retention and engagement. Finally, the organization has had to reduce its advertising revenue projections for the second half of 2025 to align growth with gross transaction volume (GTV), suggesting underlying challenges in maintaining a growth trajectory amidst increased market competition and shifts in consumer behavior.