Brokerages Set Maplebear Inc. (NASDAQ:CART) PT at $47.14

Shares of Maplebear Inc. (NASDAQ:CART) have received an average recommendation of “Moderate Buy” from the twenty-six analysts that are presently covering the company, MarketBeat.com reports. Thirteen analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $47.14.

A number of equities research analysts recently issued reports on CART shares. BMO Capital Markets upped their price target on shares of Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Maplebear in a research note on Monday, October 7th. Barclays upped their price target on shares of Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Loop Capital upped their price target on shares of Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Jefferies Financial Group assumed coverage on shares of Maplebear in a research note on Wednesday, October 16th. They set a “hold” rating and a $43.00 price target on the stock.

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total transaction of $92,261.82. Following the completion of the transaction, the chief accounting officer now directly owns 89,982 shares of the company’s stock, valued at $3,694,660.92. The trade was a 2.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $42.97, for a total transaction of $891,627.50. Following the transaction, the chief executive officer now directly owns 1,804,243 shares of the company’s stock, valued at approximately $77,528,321.71. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,954 shares of company stock valued at $4,890,405. 36.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Maplebear

Institutional investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Maplebear during the 3rd quarter valued at approximately $33,000. Huntington National Bank purchased a new position in shares of Maplebear during the 3rd quarter valued at approximately $54,000. nVerses Capital LLC grew its stake in Maplebear by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after acquiring an additional 1,600 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Maplebear in the 3rd quarter valued at $74,000. Finally, Quarry LP grew its stake in Maplebear by 269.5% in the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after acquiring an additional 2,865 shares during the period. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $42.58 on Friday. The firm has a fifty day moving average price of $43.81 and a 200 day moving average price of $37.96. Maplebear has a fifty-two week low of $22.13 and a fifty-two week high of $50.01. The firm has a market cap of $10.94 billion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 1.08 and a beta of 0.94.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. The company had revenue of $852.00 million for the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Maplebear’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($20.86) earnings per share. As a group, research analysts predict that Maplebear will post 1.4 earnings per share for the current year.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.