Maplebear (NASDAQ:CART) Stock Price Expected to Rise, Barclays Analyst Says

Maplebear (NASDAQ:CART) had its price target hoisted by equities researchers at Barclays from $56.00 to $58.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 42.37% from the company’s current price.

A number of other research analysts have also commented on CART. Needham & Company LLC raised Maplebear from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Monday, January 13th. Macquarie increased their price objective on Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Piper Sandler increased their price objective on Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Bank of America raised their target price on Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, BMO Capital Markets raised their target price on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Thirteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and an average target price of $49.92.

Maplebear Stock Performance

NASDAQ:CART opened at $40.74 on Wednesday. Maplebear has a 1 year low of $29.84 and a 1 year high of $53.44. The stock has a market cap of $10.47 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.19 and a beta of 1.07. The business has a fifty day moving average of $46.45 and a 200-day moving average of $42.66.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. On average, equities research analysts predict that Maplebear will post 1.43 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the transaction, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,311 shares of company stock worth $1,088,636 over the last three months. Insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

Large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp grew its holdings in Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Maplebear in the 3rd quarter valued at about $33,000. Allworth Financial LP grew its stake in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after buying an additional 420 shares during the period. NewEdge Advisors LLC grew its stake in shares of Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after buying an additional 717 shares during the period. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Maplebear in the 4th quarter valued at about $46,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

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.