Maplebear (NASDAQ:CART) Upgraded at Mizuho

Mizuho upgraded shares of Maplebear (NASDAQ:CART) to a strong-buy rating in a research note published on Monday,Zacks.com reports.

A number of other research analysts also recently commented on the company. JMP Securities increased their price target on Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Maplebear in a research note on Monday, October 7th. JPMorgan Chase & Co. lifted their price target on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Robert W. Baird increased their price objective on shares of Maplebear from $44.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Loop Capital boosted their target price on shares of Maplebear from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.31.

Maplebear Trading Down 2.9 %

NASDAQ CART opened at $45.11 on Monday. The stock has a market cap of $11.59 billion, a P/E ratio of 30.28, a PEG ratio of 1.08 and a beta of 1.04. The company’s fifty day simple moving average is $43.61 and its 200-day simple moving average is $39.57. Maplebear has a 52 week low of $22.70 and a 52 week high of $50.01.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.20. The firm had revenue of $852.00 million for the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($20.86) EPS. On average, research analysts expect that Maplebear will post 1.4 EPS for the current fiscal year.

Insider Buying and Selling at Maplebear

In other news, CAO Alan Ramsay sold 2,559 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $42.97, for a total value of $109,960.23. Following the completion of the transaction, the chief accounting officer now owns 96,666 shares of the company’s stock, valued at approximately $4,153,738.02. This represents a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Morgan Fong sold 11,325 shares of Maplebear stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $42.97, for a total transaction of $486,635.25. Following the sale, the general counsel now owns 287,659 shares in the company, valued at approximately $12,360,707.23. This represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,128 shares of company stock worth $4,980,404. 36.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CART. Pacer Advisors Inc. acquired a new stake in Maplebear in the third quarter worth approximately $158,701,000. Geode Capital Management LLC lifted its holdings in shares of Maplebear by 151.7% in the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock valued at $111,361,000 after buying an additional 1,647,081 shares during the period. Maverick Capital Ltd. boosted its stake in Maplebear by 19.7% during the third quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock valued at $109,363,000 after buying an additional 441,156 shares in the last quarter. State Street Corp grew its holdings in Maplebear by 48.3% during the third quarter. State Street Corp now owns 2,552,617 shares of the company’s stock worth $103,994,000 after acquiring an additional 831,795 shares during the period. Finally, Southpoint Capital Advisors LP raised its position in Maplebear by 56.3% in the third quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock worth $101,850,000 after acquiring an additional 900,000 shares in the last quarter. 63.09% of the stock is currently 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.