BMO Capital Markets Raises Maplebear (NASDAQ:CART) Price Target to $49.00

Maplebear (NASDAQ:CART) had its price target lifted by equities research analysts at BMO Capital Markets from $48.00 to $49.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 20.27% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Maplebear in a research note on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price target for the company. Piper Sandler raised their price objective on shares of Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Morgan Stanley raised their price objective on shares of Maplebear from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Mizuho assumed coverage on shares of Maplebear in a report on Tuesday, January 14th. They issued an “outperform” rating and a $55.00 price objective for the company. Finally, Barclays raised their price objective on shares of Maplebear from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday. Thirteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.92.

Maplebear Stock Down 4.8 %

NASDAQ CART opened at $40.74 on Wednesday. The company has a 50-day simple moving average of $46.45 and a two-hundred day simple moving average of $42.66. Maplebear has a 12-month low of $29.84 and a 12-month high of $53.44. The firm has a market cap of $10.47 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.19 and a beta of 1.07.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate 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%. Equities 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 the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total value of $886,855.00. Following the sale, the chief executive officer now directly owns 1,771,993 shares in the company, valued at $75,734,980.82. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the sale, the chief accounting officer now owns 87,735 shares in the company, valued at approximately $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. Insiders have sold a total of 25,311 shares of company stock worth $1,088,636 in the last 90 days. 36.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Maplebear

Several hedge funds have recently added to or reduced their stakes in CART. Jones Financial Companies Lllp grew its stake in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Maplebear in the 3rd quarter worth about $33,000. Allworth Financial LP grew its stake in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after acquiring an additional 420 shares in the last quarter. NewEdge Advisors LLC grew its stake in Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after acquiring an additional 717 shares in the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in Maplebear in the 4th quarter worth about $46,000. 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.