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Maplebear (NASDAQ:CART – Get Free Report) had its target price boosted by equities research analysts at Guggenheim from $40.00 to $44.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Guggenheim’s price objective would indicate a potential downside of 4.42% from the stock’s previous close.
CART has been the topic of a number of other research reports. Citizens Jmp restated a “market outperform” rating and issued a $60.00 price target on shares of Maplebear in a report on Monday, June 15th. Wells Fargo & Company lifted their price objective on Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Weiss Ratings upgraded Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wedbush started coverage on Maplebear in a report on Thursday, July 16th. They issued an “outperform” rating and a $59.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $55.00 price target on shares of Maplebear in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Maplebear presently has an average rating of “Moderate Buy” and an average price target of $51.67.
View Our Latest Report on Maplebear
Maplebear Stock Performance
Maplebear (NASDAQ:CART – Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the business posted $0.37 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, equities research analysts forecast that Maplebear will post 2.46 EPS for the current year.
Insider Buying and Selling
In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the completion of the transaction, the director owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 24.00% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Maplebear by 49.2% in the second quarter. GAMMA Investing LLC now owns 4,297 shares of the company’s stock valued at $203,000 after purchasing an additional 1,417 shares during the period. Versant Capital Management Inc lifted its position in Maplebear by 94.7% during the second quarter. Versant Capital Management Inc now owns 1,215 shares of the company’s stock worth $58,000 after buying an additional 591 shares during the period. Pacer Advisors Inc. lifted its position in Maplebear by 21.5% during the first quarter. Pacer Advisors Inc. now owns 1,370,619 shares of the company’s stock worth $51,343,000 after buying an additional 242,468 shares during the period. Liontrust Investment Partners LLP boosted its stake in Maplebear by 40.5% in the 1st quarter. Liontrust Investment Partners LLP now owns 219,822 shares of the company’s stock worth $8,235,000 after buying an additional 63,415 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Maplebear by 16.5% in the 1st quarter. Bank of America Corp DE now owns 1,562,097 shares of the company’s stock worth $58,516,000 after buying an additional 221,036 shares during the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.
Maplebear Company Profile
Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.
Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.
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