Maplebear Inc. (NASDAQ:CART) Receives $47.29 Consensus Price Target from Analysts

Maplebear Inc. (NASDAQ:CART) has received a consensus rating of “Moderate Buy” from the twenty-five brokerages that are covering the firm, Marketbeat Ratings reports. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $47.29.

Several research firms recently issued reports on CART. Piper Sandler raised their price target on Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Raymond James assumed coverage on Maplebear in a research note on Tuesday, September 24th. They issued a “market perform” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Maplebear in a research report on Wednesday, November 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Maplebear in a research report on Monday, October 7th. Finally, Bank of America raised their price target on Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th.

Insider Buying and Selling at Maplebear

In other news, CAO Alan Ramsay sold 2,486 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $41.39, for a total transaction of $102,895.54. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 33,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 1,844,778 shares in the company, valued at $65,065,320.06. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 118,710 shares of company stock valued at $4,978,164 in the last three months. Corporate insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Maplebear by 239.1% in the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock valued at $7,961,000 after acquiring an additional 150,544 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Maplebear in the second quarter worth $8,293,000. Investment House LLC purchased a new stake in shares of Maplebear in the second quarter worth $750,000. Eos Management L.P. raised 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 worth $1,284,000 after buying an additional 15,600 shares in the last quarter. Finally, Diversified Trust Co lifted its stake in Maplebear by 141.8% during the third 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 and hedge funds.

Maplebear Stock Performance

Shares of CART stock opened at $43.21 on Tuesday. The stock’s fifty day moving average is $42.70 and its 200-day moving average is $36.79. The stock has a market capitalization of $11.10 billion, a PE ratio of 29.00, a PEG ratio of 1.11 and a beta of 1.12. Maplebear has a 52 week low of $22.13 and a 52 week high of $50.01.

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

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.