Oppenheimer Increases Maplebear (NASDAQ:CART) Price Target to $55.00

Maplebear (NASDAQ:CART) had its price target boosted by research analysts at Oppenheimer from $48.00 to $55.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 13.03% from the company’s previous close.

A number of other equities analysts also recently weighed in on CART. Citigroup increased their price target on shares of Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Benchmark reiterated a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Stifel Nicolaus upped their price target on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Jefferies Financial Group started coverage on Maplebear in a research note on Wednesday, October 16th. They issued a “hold” rating and a $43.00 price objective on the stock. Finally, BMO Capital Markets increased their target price on shares of Maplebear from $36.00 to $39.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.90.

Maplebear Trading Up 1.9 %

Maplebear stock opened at $48.66 on Wednesday. The stock has a fifty day moving average price of $40.65 and a 200 day moving average price of $36.07. Maplebear has a 52 week low of $22.13 and a 52 week high of $50.01. The firm has a market capitalization of $12.69 billion, a P/E ratio of -2.49, a PEG ratio of 1.39 and a beta of 1.12.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.07. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The business had revenue of $823.00 million for the quarter, compared to analyst estimates of $806.35 million. Maplebear’s revenue was up 14.9% on a year-over-year basis. As a group, equities analysts predict that Maplebear will post 1.17 EPS for the current year.

Insider Buying and Selling at Maplebear

In related news, CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction 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 completion of the sale, the chief accounting officer now owns 99,225 shares in the company, valued at approximately $4,106,922.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel Morgan Fong sold 8,345 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total value of $333,800.00. Following the completion of the sale, the general counsel now directly owns 330,886 shares of the company’s stock, valued at $13,235,440. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Alan Ramsay sold 2,486 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $41.39, for a total value of $102,895.54. Following the transaction, the chief accounting officer now directly owns 99,225 shares in the company, valued at approximately $4,106,922.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,457 shares of company stock worth $3,573,142 in the last 90 days. 36.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Maplebear

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Maplebear by 239.1% in the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock worth $7,961,000 after purchasing an additional 150,544 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Maplebear in the 2nd quarter valued at about $8,293,000. Investment House LLC acquired a new position in shares of Maplebear in the 2nd quarter valued at about $750,000. Diversified Trust Co grew its position in shares of Maplebear by 141.8% during the 3rd quarter. Diversified Trust Co now owns 24,563 shares of the company’s stock valued at $1,001,000 after buying an additional 14,404 shares during the last quarter. Finally, Creative Planning raised its stake in Maplebear by 1,141.9% during the third quarter. Creative Planning now owns 118,802 shares of the company’s stock worth $4,840,000 after acquiring an additional 109,236 shares during the period. 63.09% of the stock is currently owned by institutional investors.

About Maplebear

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.