Maplebear (NASDAQ:CART) Given New $45.00 Price Target at Morgan Stanley

Maplebear (NASDAQ:CART) had its price target raised by Morgan Stanley from $44.00 to $45.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

CART has been the topic of a number of other reports. Barclays boosted their price target on Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday. Stifel Nicolaus lifted their target price on Maplebear from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday. Macquarie upped their price target on Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. BMO Capital Markets lifted their price objective on shares of Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Maplebear in a research report on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.92.

Maplebear Price Performance

NASDAQ:CART opened at $41.09 on Wednesday. The business’s 50-day simple moving average is $46.43 and its 200-day simple moving average is $42.72. Maplebear has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The stock has a market capitalization of $10.56 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07.

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

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 2,314 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the sale, the chief accounting officer now owns 85,421 shares in the company, valued at $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total value of $886,855.00. Following the completion of the transaction, the chief executive officer now directly owns 1,771,993 shares in the company, valued at $75,734,980.82. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,061 shares of company stock valued at $1,987,318 over the last ninety days. 36.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of Maplebear by 11,501.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock worth $187,495,000 after buying an additional 4,487,654 shares in the last quarter. Pacer Advisors Inc. bought a new position in Maplebear during the third quarter worth about $158,701,000. Boston Partners acquired a new stake in Maplebear in the 4th quarter worth about $111,506,000. Altimeter Capital Management LP bought a new stake in shares of Maplebear during the 4th quarter valued at $105,108,000. Finally, Vanguard Group Inc. lifted its position in Maplebear by 16.8% during the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company’s stock worth $661,409,000 after purchasing an additional 2,300,288 shares during the period. 63.09% of the stock is 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.