Maplebear Inc. (NASDAQ:CART – Get Free Report) has earned an average recommendation of “Moderate Buy” from the twenty-five analysts that are currently covering the stock, MarketBeat Ratings reports. Twelve analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $43.10.
CART has been the subject of several analyst reports. Needham & Company LLC restated a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Citigroup upped their target price on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Piper Sandler upped their target price on Maplebear from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. KeyCorp initiated coverage on Maplebear in a report on Thursday, July 11th. They issued a “sector weight” rating for the company. Finally, Wolfe Research initiated coverage on Maplebear in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company.
View Our Latest Stock Analysis on Maplebear
Insider Transactions at Maplebear
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC grew its stake in Maplebear by 1,600.0% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after buying an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Maplebear during the 3rd quarter worth approximately $74,000. Quarry LP grew its stake in Maplebear by 269.5% during the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after buying an additional 2,865 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Maplebear during the 1st quarter worth approximately $213,000. Finally, Watts Gwilliam & Co. LLC purchased a new position in shares of Maplebear in the 3rd quarter valued at approximately $231,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.
Maplebear Stock Performance
NASDAQ CART opened at $44.54 on Friday. The business has a fifty day moving average price of $38.99 and a 200 day moving average price of $35.61. Maplebear has a one year low of $22.13 and a one year high of $45.13. The company has a market cap of $11.79 billion and a P/E ratio of -2.25.
Maplebear (NASDAQ:CART – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. Maplebear had a negative return on equity of 49.98% and a negative net margin of 52.21%. The firm had revenue of $823.00 million during the quarter, compared to the consensus estimate of $806.35 million. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts predict that Maplebear will post 1.14 EPS for the current fiscal year.
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.
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