Maplebear Inc. (NASDAQ:CART) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Maplebear Inc. (NASDAQ:CART) have received an average rating of “Moderate Buy” from the twenty-five analysts that are presently covering the firm, MarketBeat reports. Twelve equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $43.10.

Several analysts recently issued reports on the company. Wolfe Research assumed coverage on Maplebear in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Wedbush boosted their price target on Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Morgan Stanley dropped their price target on Maplebear from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 24th. Benchmark restated a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Finally, BMO Capital Markets boosted their target price on shares of Maplebear from $36.00 to $39.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th.

Maplebear Price Performance

Maplebear stock opened at $43.78 on Friday. Maplebear has a one year low of $22.13 and a one year high of $45.13. The firm has a market capitalization of $11.59 billion and a P/E ratio of -2.21. The business has a fifty day moving average price of $38.51 and a 200-day moving average price of $35.55.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $823.00 million for the quarter, compared to the consensus estimate of $806.35 million. The business’s revenue was up 14.9% compared to the same quarter last year. Sell-side analysts expect that Maplebear will post 1.14 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Fidji Simo sold 33,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total value of $1,163,910.00. Following the completion of the transaction, the chief executive officer now owns 1,844,778 shares in the company, valued at approximately $65,065,320.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Alan Ramsay sold 2,486 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $41.39, for a total value of $102,895.54. Following the completion of the sale, the chief accounting officer now owns 99,225 shares in the company, valued at $4,106,922.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Fidji Simo sold 33,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the completion of the sale, the chief executive officer now owns 1,844,778 shares of the company’s stock, valued at $65,065,320.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,707 shares of company stock worth $2,652,050. Corporate insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CART. Vanguard Group Inc. grew its holdings in shares of Maplebear by 239.1% during the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock worth $7,961,000 after buying an additional 150,544 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Maplebear during the second quarter worth about $8,293,000. Investment House LLC purchased a new stake in shares of Maplebear during the second quarter worth about $750,000. GSA Capital Partners LLP purchased a new stake in shares of Maplebear during the first quarter worth about $1,673,000. Finally, Diversified Trust Co grew its holdings in shares of Maplebear by 141.8% during the third quarter. Diversified Trust Co now owns 24,563 shares of the company’s stock worth $1,001,000 after buying an additional 14,404 shares in 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.