Research Analysts’ Recent Ratings Updates for Maplebear (CART)

Several analysts have recently updated their ratings and price targets for Maplebear (NASDAQ: CART):

• 9/30/2024 – Maplebear had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $45.00 price target on the stock.
• 9/24/2024 – Maplebear had its price target raised by analysts at Bank of America Co. from $41.00 to $45.00. They now have a “neutral” rating on the stock.
• 9/24/2024 – Maplebear is now covered by analysts at Raymond James. They set a “market perform” rating on the stock.
• 9/24/2024 – Maplebear had its price target lowered by analysts at Morgan Stanley from $45.00 to $41.00. They now have an “equal weight” rating on the stock.
• 9/23/2024 – Maplebear had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $45.00 price target on the stock.
• 9/5/2024 – Maplebear is now covered by analysts at Cantor Fitzgerald. They set an “overweight” rating and a $45.00 price target on the stock.
• 8/8/2024 – Maplebear had its price target raised by analysts at Macquarie from $44.00 to $45.00. They now have an “outperform” rating on the stock.
• 8/8/2024 – Maplebear had its price target raised by analysts at Citigroup Inc. from $44.00 to $47.00. They now have a “buy” rating on the stock.
• 8/7/2024 – Maplebear had its price target raised by analysts at Piper Sandler from $47.00 to $50.00. They now have an “overweight” rating on the stock.
• 8/7/2024 – Maplebear had its price target raised by analysts at Wedbush from $35.00 to $38.00. They now have a “neutral” rating on the stock.
• 8/7/2024 – Maplebear had its price target raised by analysts at BMO Capital Markets from $36.00 to $39.00. They now have a “market perform” rating on the stock.
• 8/7/2024 – Maplebear had its “hold” rating reaffirmed by analysts at Benchmark Co..
• 8/7/2024 – Maplebear had its “hold” rating reaffirmed by analysts at Needham & Company LLC.

Maplebear Stock Performance

Maplebear stock traded down $0.29 during mid-day trading on Tuesday, reaching $40.45. The stock had a trading volume of 1,446,274 shares, compared to its average volume of 4,088,750. Maplebear Inc. has a one year low of $22.13 and a one year high of $42.58. The company has a 50-day moving average price of $35.32 and a two-hundred day moving average price of $34.94.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $806.35 million. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. Sell-side analysts anticipate that Maplebear Inc. will post 1.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 2,626 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $91,962.52. Following the completion of the sale, the chief accounting officer now owns 107,910 shares of the company’s stock, valued at approximately $3,779,008.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Morgan Fong sold 9,506 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total value of $332,900.12. Following the completion of the sale, the general counsel now directly owns 372,335 shares of the company’s stock, valued at approximately $13,039,171.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Alan Ramsay sold 2,626 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total transaction of $91,962.52. Following the completion of the sale, the chief accounting officer now directly owns 107,910 shares of the company’s stock, valued at $3,779,008.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,655 shares of company stock valued at $2,504,824. 36.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Maplebear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CART. Vanguard Group Inc. raised its position in shares of Maplebear by 239.1% during the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock valued at $7,961,000 after buying an additional 150,544 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Maplebear during the 2nd quarter valued at about $8,293,000. Investment House LLC bought a new position in shares of Maplebear during the 2nd quarter valued at about $750,000. GSA Capital Partners LLP bought a new position in shares of Maplebear during the 1st quarter valued at about $1,673,000. Finally, Nomura Holdings Inc. bought a new position in shares of Maplebear during the 4th quarter valued at about $587,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.