10 Best Consumer Cyclical Stocks to Buy Now

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3. Maplebear Inc. (NASDAQ:CART)

Number of Hedge Fund Holders: 64

Maplebear Inc. (NASDAQ:CART) is one of the best consumer cyclical stocks to buy. On June 23, Citizens JMP maintained its price target of $55 on Maplebear Inc. (NASDAQ:CART) alongside a Market Outperform rating. Instacart’s recent delivery service collaborations with YouTube, TikTok, and OpenAI were noted by the research firm as significant factors in its analysis.

According to Citizens JMP, Maplebear Inc. (NASDAQ:CART) is establishing itself as the grocery supplier for “next-generation consumer product discovery surfaces,” including social media and search engines driven by artificial intelligence. One of Instacart’s key advantages, according to the firm, is its “tendency to be a first mover” in the industry.

With a reported 14% increase in IC+ membership growth year over year, Maplebear Inc. (NASDAQ:CART) has been performing well lately. Advertising revenue has been on the rise, and the company’s $10 threshold for free delivery has been beneficial in generating further orders.

Maplebear Inc. (NASDAQ:CART), also known as Instacart, provides a grocery delivery platform that is well-known throughout the United States, with over 600,000 drivers and a network of about 8 million monthly active customers.

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