Maplebear (NASDAQ:CART) Price Target Raised to $52.00 at Macquarie

Maplebear (NASDAQ:CART) had its price target raised by Macquarie from $50.00 to $52.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Robert W. Baird increased their price target on Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a research report on Wednesday, November 13th. Barclays raised their price objective on shares of Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, JMP Securities upped their target price on Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Twelve investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.29.

Maplebear Trading Down 2.2 %

Shares of NASDAQ:CART opened at $42.00 on Thursday. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 1.13 and a beta of 1.12. Maplebear has a 12-month low of $22.13 and a 12-month high of $50.01. The business has a 50-day moving average price of $42.17 and a 200 day moving average price of $36.63.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $844.03 million. During the same quarter in the previous year, the business posted ($20.86) earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts predict that Maplebear will post 1.4 earnings per share for the current fiscal year.

Insider Transactions at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $41.39, for a total value of $102,895.54. Following the transaction, the chief accounting officer now owns 99,225 shares of the company’s stock, valued at approximately $4,106,922.75. The trade was a 2.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Fidji Simo sold 33,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total value of $1,163,910.00. Following the transaction, the chief executive officer now owns 1,844,778 shares of the company’s stock, valued at approximately $65,065,320.06. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,710 shares of company stock valued at $4,978,164. Corporate insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in 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 acquiring an additional 150,544 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Maplebear during the second quarter worth approximately $8,293,000. Investment House LLC bought a new stake in shares of Maplebear during the second quarter worth approximately $750,000. Eos Management L.P. grew its position in shares of Maplebear by 98.1% in the third quarter. Eos Management L.P. now owns 31,508 shares of the company’s stock valued at $1,284,000 after purchasing an additional 15,600 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in Maplebear by 141.8% during the 3rd quarter. Diversified Trust Co now owns 24,563 shares of the company’s stock worth $1,001,000 after purchasing an additional 14,404 shares during the last quarter. 63.09% of the stock is owned by institutional investors.

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.