Maplebear (NASDAQ:CART) Price Target Raised to $55.00

Maplebear (NASDAQ:CART) had its target price increased by Macquarie from $52.00 to $55.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently commented on the stock. Robert W. Baird boosted their target price on shares of Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Loop Capital raised their price objective on Maplebear from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Mizuho dropped their price objective on Maplebear from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on Maplebear from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Benchmark reaffirmed a “hold” rating on shares of Maplebear in a report on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.92.

Maplebear Trading Up 0.9 %

Shares of CART stock opened at $41.09 on Thursday. The firm has a fifty day moving average price of $46.43 and a 200 day moving average price of $42.80. The company has a market cap of $10.56 billion, a P/E ratio of 27.58, a PEG ratio of 1.19 and a beta of 1.07. Maplebear has a 12 month low of $29.84 and a 12 month high of $53.44.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The firm had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. On average, equities analysts forecast that Maplebear will post 1.43 EPS for the current year.

Insider Activity at Maplebear

In other news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the sale, the chief executive officer now directly owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. This trade represents a 1.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $42.14, for a total transaction of $94,688.58. Following the sale, the chief accounting officer now owns 87,735 shares of the company’s stock, valued at approximately $3,697,152.90. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,061 shares of company stock worth $1,987,318 over the last 90 days. Company insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its position in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after acquiring an additional 222 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Maplebear during the 3rd quarter valued at approximately $33,000. Allworth Financial LP lifted its position in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after acquiring an additional 420 shares during the period. NewEdge Advisors LLC lifted its position in shares of Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after acquiring an additional 717 shares during the period. Finally, Anderson Financial Strategies LLC purchased a new position in shares of Maplebear during the 4th quarter worth approximately $46,000. 63.09% of the stock is currently 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.