Ride Sharing and Food Delivery Stocks List Ranked by Hedge Fund Sentiment

3. Maplebear Inc. (NASDAQ:CART)

Number of Hedge Fund Holders: 60

Maplebear Inc. (NASDAQ:CART) designs and develops an online app that offers grocery delivery and pick-up services. It offers Instacart, allowing users to connect with personal shoppers in their vicinity who deliver and pick up food from local stores.

In a report released on April 11, Andrew Boone from JMP Securities reiterated a Buy rating on Maplebear Inc. (NASDAQ:CART) and set a price target of $55.00. The company announced a new partnership with Dierbergs Markets, a 27-store independent grocer, on April 8 to expand its operations and offer same-day delivery in as fast as 60 minutes. The partnership will include Dierbergs on the Instacart App, allowing customers access to fresh food, grocery options, and household items for same-day delivery.

Dierbergs is also leveraging Carrot Tags, Instacart’s electronic shelf label, to help customers locate their ordered products easily and boost order accuracy. Maplebear Inc. (NASDAQ:CART) also introduced Smart Shop on March 18, which employs generative AI to improve the shopping experience and increase online grocery shopping efficiency by analyzing customers’ dietary preferences and habits.