Maplebear (NASDAQ:CART) Coverage Initiated at FBN Securities

Equities research analysts at FBN Securities started coverage on shares of Maplebear (NASDAQ:CART) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage set a “sector perform” rating and a $44.00 price target on the stock. FBN Securities’ target price suggests a potential upside of 10.75% from the stock’s current price.

CART has been the subject of several other research reports. Barclays boosted their target price on shares of Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Macquarie increased their price objective on shares of Maplebear from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Oppenheimer lowered their price target on Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Seaport Res Ptn raised shares of Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $55.00 price objective on shares of Maplebear in a research note on Wednesday, February 26th. Fourteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.25.

Maplebear Price Performance

Maplebear stock opened at $39.73 on Friday. Maplebear has a 12-month low of $29.84 and a 12-month high of $53.44. The firm’s fifty day moving average price is $44.59 and its 200 day moving average price is $43.48. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.16. The company had revenue of $883.00 million during 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%. Analysts forecast that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insider Activity at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the sale, the chief accounting officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fidji Simo sold 2,033 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the transaction, the chief executive officer now owns 1,654,559 shares in the company, valued at approximately $66,182,360. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,097 shares of company stock valued at $1,087,094. Company insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

Several hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp boosted its stake in shares of 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 in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Maplebear during the third quarter worth approximately $33,000. Allworth Financial LP grew its holdings in 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 purchasing an additional 420 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after purchasing an additional 717 shares during the period. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Maplebear in the fourth quarter worth $46,000. 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.