Maplebear (NASDAQ:CART) Stock Price Expected to Rise, Barclays Analyst Says

Maplebear (NASDAQ:CART) had its price target boosted by stock analysts at Barclays from $56.00 to $58.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 42.37% from the stock’s current price.

Other analysts have also recently issued reports about the stock. JMP Securities increased their price objective on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. BTIG Research upgraded shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upped their target price on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Needham & Company LLC upgraded shares of Maplebear from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday, January 13th. Finally, Robert W. Baird upped their target price on shares of Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Maplebear currently has an average rating of “Moderate Buy” and an average target price of $49.92.

Maplebear Price Performance

NASDAQ:CART opened at $40.74 on Wednesday. Maplebear has a one year low of $29.84 and a one year high of $53.44. The company’s 50-day simple moving average is $46.45 and its 200 day simple moving average is $42.66. The firm has a market capitalization of $10.47 billion, a P/E ratio of 27.34, a PEG ratio of 1.19 and a beta of 1.07.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.16. The firm had revenue of $883.00 million for 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 research analysts expect that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the transaction, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $42.14, for a total value of $94,688.58. Following the transaction, the chief accounting officer now directly owns 87,735 shares in the company, valued at $3,697,152.90. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,311 shares of company stock valued at $1,088,636. Insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp increased its holdings in Maplebear by 559.1% during the 4th quarter. Mackenzie Financial Corp now owns 162,111 shares of the company’s stock worth $6,715,000 after purchasing an additional 137,514 shares during the last quarter. Cache Advisors LLC purchased a new stake in Maplebear during the 4th quarter worth approximately $304,000. WCG Wealth Advisors LLC increased its holdings in Maplebear by 3.3% during the 4th quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company’s stock worth $590,000 after purchasing an additional 451 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Maplebear by 69.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 111,116 shares of the company’s stock worth $4,602,000 after purchasing an additional 45,458 shares during the last quarter. Finally, PharVision Advisers LLC bought a new stake in shares of Maplebear in the 4th quarter valued at approximately $232,000. 63.09% of the stock is owned by institutional investors and hedge funds.

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.