Maplebear Inc. (NASDAQ:CART) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Maplebear Inc. (NASDAQ:CART) has received an average rating of “Moderate Buy” from the thirty brokerages that are currently covering the company, MarketBeat reports. Fourteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $50.25.

A number of research firms have weighed in on CART. Barclays upped their price objective on shares of Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Loop Capital lowered their price objective on Maplebear from $56.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Stifel Nicolaus upped their target price on Maplebear from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Wedbush reduced their target price on Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Mizuho dropped their price target on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th.

Maplebear Price Performance

Shares of NASDAQ CART opened at $39.73 on Monday. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.19 and a beta of 1.34. Maplebear has a 1-year low of $29.84 and a 1-year high of $53.44. The business has a 50-day moving average of $44.59 and a 200-day moving average of $43.42.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The company had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Research analysts expect that Maplebear will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $3,953,283.88. This represents a 2.64 % 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 firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the sale, the chief executive officer now owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. This represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,097 shares of company stock valued at $1,087,094 in the last quarter. Company insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CART. Jones Financial Companies Lllp grew its position in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after buying an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Maplebear in the third quarter valued at approximately $33,000. Allworth Financial LP increased its stake in shares of Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after acquiring an additional 420 shares during the period. NewEdge Advisors LLC raised its holdings in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after purchasing an additional 717 shares in the last quarter. Finally, Anderson Financial Strategies LLC acquired a new stake in Maplebear in the fourth quarter worth approximately $46,000. Institutional investors own 63.09% of the company’s stock.

About Maplebear

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.