Why Is Maplebear Inc. (CART) Surging on Analyst Recommendations?

We recently published a list of 5 Stocks Surging On Analyst Recommendations. In this article, we are going to take a look at where Maplebear Inc. (NASDAQ:CART) stands against other stocks surging on analyst recommendations.

The US market is green today, reflecting the optimism of the market participants. Some stocks are outperforming the broader market based on analyst recommendations. These recommendations pertain to the stock prospects in 2025 as the economy heads for recovery in a monetary easing environment.

Analyst recommendations often come with insights on the stock based on extensive research by the analysts involved. Even though this research has its limitations and biases, it gives investors an idea of which stocks to bet on to outperform the market.

To come up with a list of stocks that are surging on analyst recommendations, we only considered stocks that received an analyst recommendation in the last 24 hours and have a market cap of at least $1 billion.

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Maplebear Inc. (NASDAQ:CART)

Maplebear Inc. (Instacart) (NASDAQ:CART) has become a hot property as Needham just upgraded the online grocery delivery stock with a target price of $80. The company outperformed in the 2nd half of the past year by raising the expected growth. It is forecasted that it will keep following the trend into 2025 as well.

The news about Instacart replacing Enovis Corp in the S&P MidCap 400 index is helping the stock gain traction. This raised the share price of the company, converting a loss into a gain of 4.6% when the news broke. At this rate, it should continue to gain after being added to the S&P MidCap 400 on January 14.

Instacart also announced a partnership with Cut+Dry to increase case sales and gain growth. To ensure same-day delivery, the company has just declared a partnership with Ulta Beauty. These partnerships will help improve the company’s operations by making it the right choice for customers for their online shopping.

Overall, CART ranks 4th on our list of stocks surging on analyst recommendations. While we acknowledge the potential of CART as a leading AI investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as CART but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.