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Is Instacart’s New Data Hub Reshaping The Investment Case For Maplebear (CART)?

Simply Wall St · 2d ago
  • At CES 2026, Instacart’s parent Maplebear unveiled Data Hub, a clean room solution that lets CPG brands securely combine their own data with Instacart’s first-party grocery purchase signals to inform marketing strategy and measure omnichannel performance.
  • This move highlights Maplebear’s push to deepen its role as a retail media and data partner, extending its platform beyond grocery delivery into higher-value analytics and measurement services for advertisers.
  • We’ll now examine how Data Hub’s privacy-safe access to first-party grocery data could influence Maplebear’s existing investment narrative and outlook.

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Maplebear Investment Narrative Recap

To own Maplebear, you need to believe Instacart can compound value by pairing grocery e commerce scale with higher margin retail media and data services. Data Hub fits this thesis by monetizing first party purchase data, but it does not materially change near term exposure to softer CPG ad budgets or rising labor and regulatory pressures on the gig model, which still look like the key short term catalyst and the biggest operational risk.

The recent Associated Food Stores rollout of Storefront, Storefront Pro and Carrot Ads across 40 plus banners is especially relevant, because it underlines how Instacart is layering software and media tools on top of its marketplace. Together with Data Hub, this reinforces the existing catalyst that deeper retailer integrations and non transaction revenues could make earnings less sensitive to swings in grocery order volumes over time.

Yet while Data Hub broadens the story, investors should still be aware of how reliant the high margin ad business remains on CPG budgets and evolving privacy rules...

Read the full narrative on Maplebear (it's free!)

Maplebear's narrative projects $4.6 billion revenue and $779.9 million earnings by 2028. This requires 9.3% yearly revenue growth and about a $300.9 million earnings increase from $479.0 million today.

Uncover how Maplebear's forecasts yield a $50.62 fair value, a 13% upside to its current price.

Exploring Other Perspectives

CART 1-Year Stock Price Chart
CART 1-Year Stock Price Chart

Two Simply Wall St Community fair value estimates span roughly US$50.62 to US$94.48 per share, showing very different expectations. When you weigh those opinions against the growing importance of Instacart’s high margin retail media and data offerings, it becomes clear you should compare several viewpoints before forming a view on how resilient the business could be.

Explore 2 other fair value estimates on Maplebear - why the stock might be worth just $50.62!

Build Your Own Maplebear Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

  • A great starting point for your Maplebear research is our analysis highlighting 3 key rewards that could impact your investment decision.
  • Our free Maplebear research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Maplebear's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.