BTIG has downgraded Maplebear Inc (CART) to Neutral from Buy, reflecting a more cautious outlook on the company’s performance. The action, taken on September 29, 2025, comes as Maplebear, known for its grocery delivery and pick-up services through its Instacart platform, faces potential challenges from competitive pressures and market conditions.
Currently trading at $40.40, Maplebear has a market capitalization of $10.9 billion and a trailing P/E ratio of 21.16. The company, which went public on September 19, 2023, has experienced mixed earnings results in recent quarters. Most notably, in Q3 2025, it reported an EPS of $0.51, slightly exceeding analyst expectations of $0.50.
The downgrade underscores a shift in sentiment as analysts reassess their views on the company’s growth prospects. As of November 1, 2025, the consensus among analysts remains a Buy, with 9 Strong Buy, 13 Buy, and 19 Hold ratings among a total of 42 analysts.
Looking ahead, Maplebear is expected to report its next earnings on August 5, 2026, with estimates of $0.53 EPS and $1.0 billion in revenue. This update provides insight into the evolving landscape for Maplebear and the factors influencing analyst ratings in the retail sector.