Maplebear (NASDAQ:CART) Price Target Raised to $55.00

Maplebear (NASDAQ:CART) had its price objective increased by Macquarie from $52.00 to $55.00 in a research note published on Thursday morning,Benzinga reports. Macquarie currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the stock. Wedbush lowered their target price on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday. JMP Securities lifted their target price on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Morgan Stanley lifted their target price on shares of Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday. BTIG Research upgraded shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Tuesday, January 14th. Finally, Oppenheimer decreased their price target on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.92.

Maplebear Price Performance

Shares of CART opened at $41.09 on Thursday. The firm has a 50 day simple moving average of $46.43 and a 200-day simple moving average of $42.80. Maplebear has a 1-year low of $29.84 and a 1-year high of $53.44. The stock has a market cap of $10.56 billion, a price-to-earnings 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 earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.37 by $0.16. The firm had revenue of $883.00 million during the quarter, compared to analysts’ expectations of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. On average, equities analysts expect that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Maplebear news, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the transaction, the chief accounting officer now owns 87,735 shares in the company, valued at $3,697,152.90. The trade was a 2.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the transaction, the chief executive officer now owns 1,662,692 shares in the company, valued at $72,011,190.52. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,061 shares of company stock worth $1,987,318 in the last quarter. 36.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Maplebear

A number of institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after buying an additional 222 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Maplebear by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock worth $331,000 after purchasing an additional 286 shares during the last quarter. Allworth Financial LP increased its position in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after purchasing an additional 420 shares during the last quarter. WCG Wealth Advisors LLC increased its position in shares of Maplebear by 3.3% in the 4th quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company’s stock worth $590,000 after purchasing an additional 451 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its position in shares of Maplebear by 1.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after purchasing an additional 490 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

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.