Shares of Maplebear (CART) have gained 2.9% over the past four weeks to close the last trading session at $26.77, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $34.56 indicates a potential upside of 29.1%.The mean estimate comprises 16 short-term price targets with a standard deviation of $5.91. While the lowest estimate of $26 indicates a 2.9% decline from the current price l ...

Instacart (NASDAQ:CART) announced Tuesday it plans to lay off about 250 employees, amounting to roughly 7% of its workforce, as part of a restructuring effort. So, what do you need to know about Instacart layoffs?Well, the grocery delivery company stated its layoffs are mostly targeting middle management, creating a less vertical organizational structure. Additionally, the company hopes to have its teams more concentrated on large-scale projects.According to the press release, the company’s three executives ...

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Instacart (NASDAQ:CART), the grocery delivery giant, is cutting 250 jobs, or 7% of its workforce, to concentrate on more “promising” initiatives as it attempts to drive upward momentum into the share price. An uptick in grocery orders led the group to increase its forecast for both its first-quarter gross transaction value (GTV) and core profit, the business said in its fourth-quarter update. Despite this positive outlook, shares fell around 3% lower in pre-market trading after revenue came in lower than ex ...

Today, we also announced a restructuring plan, which we expect to result in a onetime charge of $19 million to $24 million. This charge will not impact our adjusted operating expenses because they are onetime in nature, but they will result in cash outlays. On an ongoing basis, we do not expect the restructuring to materially change our adjusted operating expenses in Q1 or the balance of the year as we plan to reinvest anticipated cost savings and future growth. Putting all this together, in Q1, we expect a ...

Even as Instacart is undergoing major layoffs to cut costs, the company continues to invest in fully digitizing the physical store to boost omnichannel efficiency.CEO Fidji Simo said in a Tuesday (Feb. 13) letter to shareholders discussing the company’s fourth-quarter 2023 financial results that Instacart is laying off hundreds of employees in an effort to cut costs and boost margins.“Today, we made the tough decision to part with approximately 250 of our talented team members,” Simo stated. “This will allo ...

Instacart said Tuesday it plans to cut 250 jobs, or about 7% of its workforce, to focus on “promising” initiatives. However, shares of Instacart, formally known as Maplebear, were down about 10% in extended trading after the company missed fourth-quarter revenue estimates.The grocery-delivery firm joins several US and Canadian firms that have been laying off thousands of employees as they scramble to reduce costs amid an uncertain macroeconomic environment.“This (job cuts) will allow us to reshape the comp ...

Grocery-delivery giant Instacart announced today that it’s laying off around 250 employees, or roughly 7% of its global workforce, as part of a restructuring. Instacart CEO Fidji Simo said in a letter to investors that the layoffs will allow the company to streamline how it operates. The company announced the layoffs alongside the release of its fourth-quarter earnings.“Today, we made the tough decision to part with approximately 250 of our talented team members,” Simo wrote in the letter. “This will allow ...

Maplebear Inc. CART, +1.72% — the company better known as the grocery-delivery platform Instacart — said on Tuesday that it was laying off around 250 people, or around 7% of its staff, and announced the resignation of its chief operating officer. The announcement came after a fourth quarter in which sales came up short of estimates. However, the company forecast first-quarter gross transaction value — a gauge of the total value of the products customers buy — of $8 billion to $8.2 billion, above FactSet fo ...

A smartphone with an Instacart logo displayed is seen in this illustration taken March 25, 2022.Instacart on Tuesday announced it would lay off about 250 employees, or roughly 7% of the company, as part of a restructuring. The news came as the company reported fourth-quarter earnings that fell roughly in line with analysts' revenue estimates.Shares of the company fell 5% in extended trading.The layoffs are focused in part on middle management and creating a flatter organizational structure, according to Ins ...