Maplebear's Fundamentals Appear Safe From Competitive Concerns, Oppenheimer Says

MT Newswires Live
Oct 03

Maplebear's (CART) near- to medium-term fundamentals appear to be safe from competitive concerns, with the new leadership focused on accelerating revenue and gross transaction value, Oppenheimer said in a Thursday note.

According to Oppenheimer, Amazon.com (AMZN) competitive concerns overdone, and the partnership between Kroger (KR) and DoorDash (DASH) is not expected to impact Maplebear's share of large-basket orders.

Oppenheimer also noted that Maplebear Chief Executive Officer Chris Rogers is pushing for initiatives like securing ads from brand partners, expanding enterprise products, and maintaining in-store price parity to drive the company's revenue.

Oppenheimer reiterated its outperform rating and $65 price target on Maplebear.

Price: 38.82, Change: -0.48, Percent Change: -1.23

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