Maplebear Inc. (NASDAQ:CART) Receives $51.91 Average Price Target from Analysts

Maplebear Inc. (NASDAQ:CART) has earned a consensus recommendation of “Moderate Buy” from the twenty-seven analysts that are currently covering the firm, Marketbeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $51.91.

CART has been the subject of several research reports. Jefferies Financial Group raised their price objective on Maplebear from $48.00 to $50.00 and gave the stock a “hold” rating in a research note on Tuesday, May 27th. JMP Securities reissued a “market outperform” rating and set a $55.00 price target on shares of Maplebear in a research report on Thursday. Oppenheimer decreased their price objective on Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their price objective on Maplebear from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Benchmark restated a “hold” rating on shares of Maplebear in a research report on Wednesday, February 26th.

Maplebear Stock Performance

Shares of CART stock opened at $43.37 on Friday. The stock has a market cap of $11.39 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 1.19 and a beta of 1.30. The business’s fifty day moving average is $43.76 and its 200-day moving average is $43.73. Maplebear has a 1 year low of $29.84 and a 1 year high of $53.44.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 earnings per share. Equities research analysts predict that Maplebear will post 1.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 2,033 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now directly owns 1,654,559 shares in the company, valued at approximately $66,182,360. The trade was a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $42.57, for a total value of $223,449.93. Following the sale, the general counsel now owns 484,292 shares in the company, valued at approximately $20,616,310.44. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,640 shares of company stock valued at $843,579 in the last three months. Company insiders own 26.00% of the company’s stock.

Institutional Trading of Maplebear

Institutional investors and hedge funds have recently modified their holdings of the company. Proathlete Wealth Management LLC bought a new stake in shares of Maplebear during the first quarter valued at approximately $26,000. Jones Financial Companies Lllp increased its position in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after purchasing an additional 222 shares during the period. Allworth Financial LP boosted its stake in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after buying an additional 420 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after buying an additional 717 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Maplebear by 914.1% in the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock valued at $40,000 after buying an additional 905 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors.

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.