Maplebear (NASDAQ:CART) Price Target Raised to $45.00

Maplebear (NASDAQ:CART) had its price objective raised by Morgan Stanley from $44.00 to $45.00 in a report published on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

CART has been the subject of several other reports. Oppenheimer lifted their price target on Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. BMO Capital Markets lifted their target price on Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a report on Wednesday. Wells Fargo & Company assumed coverage on shares of Maplebear in a research note on Friday, January 10th. They issued an “equal weight” rating and a $47.00 price target on the stock. Bank of America raised their price target on shares of Maplebear from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, 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. Thirteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $49.80.

Maplebear Price Performance

NASDAQ:CART opened at $42.80 on Wednesday. The firm’s fifty day moving average price is $46.48 and its two-hundred day moving average price is $42.68. The company has a market cap of $11.00 billion, a P/E ratio of 28.72, a P/E/G ratio of 1.19 and a beta of 1.07. Maplebear has a one year low of $29.84 and a one year high of $53.44.

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

Insider Activity at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,247 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the sale, the chief accounting officer now owns 87,735 shares in the company, valued at $3,697,152.90. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the transaction, the chief executive officer now owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,311 shares of company stock valued at $1,088,636. 36.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Maplebear

Several large investors have recently bought and sold shares of CART. Jones Financial Companies Lllp increased its stake in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after buying an additional 222 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Maplebear during the 3rd quarter worth approximately $33,000. Allworth Financial LP grew its holdings in Maplebear by 101.4% during 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 increased its position 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 acquiring an additional 717 shares during the period. Finally, Anderson Financial Strategies LLC bought a new position in shares of Maplebear during the fourth quarter valued at $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.