Maplebear (NASDAQ:CART) Price Target Lowered to $52.00 at Loop Capital

Maplebear (NASDAQ:CART) had its target price decreased by Loop Capital from $56.00 to $52.00 in a research note published on Thursday,Benzinga reports. Loop Capital currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus increased their target price on Maplebear from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Macquarie increased their target price on Maplebear from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Oppenheimer dropped their target price on Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Robert W. Baird increased their target price on Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Piper Sandler increased their target price on Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Thirteen investment 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 company. According to MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and a consensus target price of $50.21.

Maplebear Price Performance

Shares of CART opened at $37.75 on Thursday. The business’s fifty day moving average price is $46.03 and its 200 day moving average price is $42.90. Maplebear has a 12-month low of $29.84 and a 12-month high of $53.44. The stock has a market capitalization of $9.70 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data 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. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $883.00 million for the quarter, compared to analysts’ expectations of $889.98 million. As a group, research analysts anticipate that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insider Transactions at Maplebear

In related news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief executive officer now directly owns 1,771,993 shares in the company, valued at $75,734,980.82. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,061 shares of company stock valued at $1,987,318 over the last three months. Company insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

A number of institutional investors have recently bought and sold shares of the stock. Portman Ltd purchased a new position in Maplebear during the 3rd quarter valued at about $3,196,000. State Street Corp grew its stake in Maplebear by 48.3% during the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company’s stock valued at $103,994,000 after acquiring an additional 831,795 shares in the last quarter. Cerity Partners LLC purchased a new position in Maplebear during the 3rd quarter valued at about $1,442,000. Charles Schwab Investment Management Inc. grew its stake in Maplebear by 5,191.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock valued at $60,689,000 after acquiring an additional 1,461,501 shares in the last quarter. Finally, Zacks Investment Management purchased a new position in Maplebear during the 3rd quarter valued at about $4,853,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

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.