Macquarie Raises Maplebear (NASDAQ:CART) Price Target to $55.00

Maplebear (NASDAQ:CART) had its price objective raised by research analysts at Macquarie from $52.00 to $55.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Macquarie’s price target points to a potential upside of 31.72% from the company’s current price.

A number of other analysts also recently weighed in on the stock. BTIG Research raised shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Tuesday, January 14th. Oppenheimer lowered their target price on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday. Piper Sandler increased their target price on Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Bank of America upped their price target on shares of Maplebear from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Morgan Stanley increased their price objective on shares of Maplebear from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday. Thirteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.92.

Maplebear Stock Down 2.4 %

Shares of Maplebear stock traded down $1.05 during trading on Thursday, reaching $41.75. The company’s stock had a trading volume of 3,130,562 shares, compared to its average volume of 4,399,979. The company has a market cap of $10.73 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 1.19 and a beta of 1.07. The firm’s 50-day moving average is $46.48 and its two-hundred day moving average is $42.68. Maplebear has a 52-week low of $29.84 and a 52-week high of $53.44.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. On average, equities research analysts anticipate that Maplebear will post 1.43 EPS for the current year.

Insiders Place Their Bets

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the sale, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the transaction, the chief accounting officer now owns 87,735 shares of the company’s stock, valued at approximately $3,697,152.90. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,311 shares of company stock valued at $1,088,636. 36.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CART. Jones Financial Companies Lllp lifted its position in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after buying an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Maplebear during the 3rd quarter worth approximately $33,000. Allworth Financial LP increased its stake in shares of 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 during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after acquiring an additional 717 shares during the period. Finally, Anderson Financial Strategies LLC acquired a new position in shares of Maplebear during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

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.