Shares of Maplebear Inc. (NASDAQ:CART – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $41.25.
CART has been the topic of a number of research reports. Barclays boosted their target price on shares of Maplebear from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Gordon Haskett upgraded shares of Maplebear from a “hold” rating to a “buy” rating and boosted their target price for the company from $37.00 to $45.00 in a research report on Wednesday, June 5th. Morgan Stanley boosted their target price on shares of Maplebear from $28.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. BMO Capital Markets boosted their target price on shares of Maplebear from $26.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, May 9th. Finally, Citigroup upped their price objective on shares of Maplebear from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, May 9th.
Read Our Latest Report on CART
Insider Activity at Maplebear
Hedge Funds Weigh In On Maplebear
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC bought a new position in shares of Maplebear in the third quarter valued at approximately $56,424,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Maplebear in the third quarter valued at approximately $2,969,000. Federated Hermes Inc. bought a new position in shares of Maplebear in the third quarter valued at approximately $4,750,000. Monashee Investment Management LLC bought a new position in shares of Maplebear in the third quarter valued at approximately $6,069,000. Finally, Greenoaks Capital Partners LLC bought a new position in shares of Maplebear in the third quarter valued at approximately $24,012,000. Institutional investors own 63.09% of the company’s stock.
Maplebear Stock Down 0.5 %
NASDAQ:CART opened at $31.35 on Friday. The firm’s fifty day moving average is $33.77 and its 200-day moving average is $30.90. Maplebear has a 52 week low of $22.13 and a 52 week high of $42.95.
Maplebear (NASDAQ:CART – Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.39. The firm had revenue of $820.00 million during the quarter, compared to the consensus estimate of $794.08 million. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. On average, research analysts forecast that Maplebear will post 1.02 earnings per share for the current year.
Maplebear Company Profile
Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.
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