7 Best Delivery Stocks To Invest In Now

5. Maplebear Inc. (NASDAQ:CART)

Number of Hedge Fund Holders: 56

Maplebear Inc. (NASDAQ:CART), doing business as Instacart, is an American delivery company that facilitates online grocery shopping, delivery, and pickup services in the United States and Canada. The company partners with over 1,500 retailers across North America, allowing customers to shop from more than 85,000 stores on the Instacart Marketplace.

Maplebear Inc. (NASDAQ:CART) is actively enhancing its services and technology to improve the shopping experience for customers. In 2023, the company completely revamped its white-label e-commerce storefront solution, allowing enterprise partners to access new features and technologies. This shared architecture benefits both Instacart and its partners, making online grocery shopping more efficient. So far this year, Instacart has launched e-commerce storefronts for more than 30 new retailers, including regional favorites like Bi-Rite and Coborn’s.

Additionally, the company has introduced the Caper Cart, an AI-powered smart cart that simplifies the checkout process and offers personalized recommendations to shoppers. Recently, Maplebear Inc. (NASDAQ:CART) launched Caper Carts internationally in partnership with ALDI in Austria, showcasing its commitment to innovation. With plans to expand its technology and services further, Instacart is focused on creating a seamless shopping experience that connects online and in-store shopping.

In the second quarter of 2024, Maplebear Inc. (NASDAQ:CART) showed strong financial performance with a Gross Transaction Value (GTV) of $8.2 billion, reflecting a 10% increase compared to the same quarter in the previous year. The company processed 70.8 million orders, which is a 7% rise year-over-year. Total revenue reached $823 million, marking a 15% growth from the same period last year and representing 10% of the GTV. These positive results highlight the company’s ability to expand its business and meet growing consumer demand for grocery delivery services.

According to Insider Monkey’s database, 56 hedge funds held stakes in Maplebear Inc. (NASDAQ:CART) in the second quarter of 2024. This brings CART to the 5th spot on our list of the best delivery stocks to invest in.