Maplebear Inc

CART: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$71.60	Scvd	Mdmlbpq

Instacart: Market Dominance at Risk With Heightened Competition; $33 Fair Value Estimate

Ali Mogharabi

Nov 29, 2023

We are initiating coverage of Instacart (Maplebear) with a no-moat, Very High uncertainty rating, and a fair value estimate of $33 per share. We currently view the stock as undervalued.

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