Instacart
Connects grocery customers, shoppers, retailers, and brands through marketplace, software, and advertising tools.
Something off on this page? Send us feedback.
Profile
Connects consumers, independent-contractor shoppers, and grocery retailers through a grocery delivery and pickup marketplace. Business lines extend to retailer software and retail-media advertising for consumer brands, while the inventory-light model depends on participating retailers, reliable shopper fulfillment, and compliance across subscriptions, data use, and worker classification.
Connects consumers, independent-contractor shoppers, and grocery retailers through an online marketplace for grocery delivery and pickup. Rather than owning grocery inventory, the network coordinates ordering and fulfillment through participating retailers and shoppers.
Extends beyond the marketplace through Instacart Platform, which supplies retailers with e-commerce, fulfillment, in-store systems, advertising, and operational insights. Enterprise offerings are extending internationally. Consumer brands buy retail-media advertising, while capability-led acquisitions have added order management, smart carts, and shelf intelligence.
Depends on continued retailer and brand participation, reliable shopper fulfillment, and compliance governing consumer subscriptions, advertising, data use, and worker classification. A proposed FTC settlement imposed disclosure and consent requirements around marketing claims and Instacart+ auto-renewal.
Company facts
Categories
Key statistics
Year to date +15.1% · Average volume (30d) 4.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 7, 2026 | Morgan Stanley | Target | $52 | $58 | ||
| Aug 7, 2026 | Raymond James | Reiterate | Outperform | $50 | $55 | |
| Aug 7, 2026 | Robert W. Baird | Target | $49 | $55 | ||
| Aug 7, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $56 | $63 | |
| Aug 7, 2026 | BMO Capital | Reiterate | Outperform | $60 | $65 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.54 | $0.45 | −17.0% | $1.03B | $1.04B | +1.6% | +11.41% |
| May 6, 2026Q1 FY26 | $0.58 | $0.57 | −1.7% | $1.01B | $1.02B | +1.2% | −5.40% |
| Feb 12, 2026Q4 FY25 | $0.52 | $0.53 | +1.9% | $973.3M | $992.0M | +1.9% | +9.21% |
| Nov 10, 2025Q3 FY25 | $0.49 | $0.51 | +3.2% | $933.7M | $939.0M | +0.6% | +5.01% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $897.0M | $914.0M | $939.0M | $992.0M | $1.02B | $1.04B | |
| Gross profit | $671.0M | $678.0M | $692.0M | $717.0M | $732.0M | $751.0M | |
| Operating income | $110.0M | $124.0M | $166.0M | $98.0M | $184.0M | $143.0M | |
| Net income | $106.0M | $116.0M | $144.0M | $81.0M | $144.0M | $111.0M | |
| Diluted EPS | $0.38 | $0.41 | $0.51 | $0.30 | $0.57 | $0.45 | |
| Gross margin | 74.8% | 74.2% | 73.7% | 72.3% | 71.8% | 72.0% | |
| Operating margin | 12.3% | 13.6% | 17.7% | 9.9% | 18.1% | 13.7% |
Fiscal years (4-quarter sums)FY21 $1.84B · FY22 $2.55B · FY23 $3.04B · FY24 $3.38B · FY25 $3.74B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $850.0M · Total debt $34.0M · Total assets $3.51B · Shareholders' equity $2.32B
Dividends
No dividends on record.
Ownership
Shares outstanding 235.03M · Float 157.53M · 67.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| D1 Capital Partners L.P. | 22.56M | 9.60% | 13F | Aug 14, 2026 |
| Apoorva Mehta | 22.28M | 8.40% | 13G | Jul 15, 2025 |
| SC US (TTGP), Ltd. ("SC US (TTGP)") | 18.60M | 8.00% | 13D | Aug 17, 2026 |
| BlackRock, Inc. | 15.85M | 6.74% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 8.20M | 3.49% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 24, 2026 | Morgan Fong | officer: Chief Legal Officer | −18,390 | $49.96 |
| Aug 19, 2026 | Ravi Gupta | director | −150,000 | $50.61 |
| Aug 19, 2026 | Chris Rogers | director, officer: President and CEO | −7,606 | $48.95 |
| Aug 13, 2026 | Emily Reuter | officer: CHIEF FINANCIAL OFFICER | −25,000 | $50.01 |
| Aug 7, 2026 | Chris Rogers | director, officer: President and CEO | −4,933 | $50.00 |
Peers
- DoorDash
Direct overlap in grocery delivery, merchant services, and ads
- Uber
Grocery marketplace, white-label delivery, membership, and ads rival
- Amazon
Scaled first-party grocery, same-day delivery, membership, and ads rival
- Walmart
Store-led online grocery, same-day fulfillment, membership, and ads rival
- Target
Owned-store grocery delivery and retail-media rival through Shipt and Roundel
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Instacart | $50.02 | −1.01% | $11.88B | 27.6 | 19.4 | 3.0 | +14.1% |
| DoorDash | $236.80 | +0.06% | $103.15B | 123.9 | 67.9 | 6.5 | +35.6% |
| Uber | $78.78 | −0.01% | $160.45B | 17.3 | 20.4 | 2.9 | +12.2% |
| Amazon | $266.10 | −0.11% | $2.87T | 21.4 | 28.5 | 3.7 | +19.6% |
| Walmart | $103.07 | −0.03% | $820.40B | 37.2 | 34.5 | 1.1 | +5.9% |
| Target | $163.23 | +0.05% | $74.10B | 16.9 | 17.6 | 0.7 | +5.3% |
| Median | 21.4 | 28.5 | 2.9 | +12.2% |