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CART MaplebearAnalyst actions

Needham Downgrades Maplebear to Hold From Buy

Maplebear shares had risen 29.5% over the 20 sessions to Thursday's close of $57.11, and the firm's target is not part of the change.

By Zintick Team · Editor: Kratik Mehta
Published

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Photo: ShiftDrive/Shutterstock.com

Key points

  • Needham cut Maplebear (CART) to hold from buy before the open on Oct. 30, 2026
  • No price target was set in the change
  • Stock closed at $57.11 on Oct. 29; up 29.5% over the prior 20 sessions
  • Of 15 firms covering the stock, 12 rated it positive and 3 neutral before the change

Needham downgraded Maplebear Inc. (Nasdaq: CART) to hold from buy before the open on Friday, Oct. 30, 2026. Needham did not publish a price target with the change, and no target was set or cut in the action.

The stock closed at $57.11 on Thursday, Oct. 29, 2026. Over the 20 sessions to that close, Maplebear rose 29.5%.

Where coverage stands

Before the downgrade, 15 firms had rated Maplebear in the past year. Twelve rated the stock positive, three rated it neutral and none rated it negative. The median price target across those firms was $58.00, with a low of $45.00 and a high of $77.00.

Company scale

Maplebear reported revenue of $3.74 billion for 2025, up 11% from a year earlier. In the latest reported quarter, ended June 30, 2026, revenue was $1.04 billion, up 14% from a year earlier, and diluted earnings per share were $0.45 compared with $0.41 a year earlier. Cash and investments totaled $885.0 million as of June 30.

Maplebear filed two current reports with the Securities and Exchange Commission on Thursday, Oct. 29, 2026, the day before the downgrade. One was an 8-K covering a material definitive agreement and other events, and the other was an 8-K covering results of operations.

Sources

Written with AI from analyst rating changes, SEC filings and market data, and checked against those sources before publishing. Our editorial standards.

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