Maplebear (NASDAQ:CART) Price Target Raised to $52.00

Maplebear (NASDAQ:CART) had its price target raised by research analysts at Macquarie from $50.00 to $52.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s target price points to a potential upside of 21.72% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Piper Sandler upped their target price on shares of Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group began coverage on Maplebear in a research note on Wednesday, October 16th. They issued a “hold” rating and a $43.00 price target on the stock. Wedbush increased their price objective on Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Oppenheimer boosted their target price on shares of Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Stifel Nicolaus increased their target price on shares of Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.29.

Maplebear Trading Down 0.7 %

CART stock traded down $0.30 during trading on Thursday, reaching $42.72. 3,225,430 shares of the stock were exchanged, compared to its average volume of 3,964,385. Maplebear has a twelve month low of $22.13 and a twelve month high of $50.01. The company has a market capitalization of $11.14 billion, a P/E ratio of 28.56, a price-to-earnings-growth ratio of 1.50 and a beta of 1.12. The stock has a 50 day simple moving average of $41.85 and a 200-day simple moving average of $36.51.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. The business had revenue of $852.00 million for the quarter, compared to analysts’ expectations of $844.03 million. Maplebear had a return on equity of 13.32% and a net margin of 13.37%. Maplebear’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business posted ($20.86) earnings per share. Equities analysts predict that Maplebear will post 1.17 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Morgan Fong sold 29,253 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $48.03, for a total value of $1,405,021.59. Following the transaction, the general counsel now owns 258,406 shares of the company’s stock, valued at $12,411,240.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Maplebear news, General Counsel Morgan Fong sold 29,253 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.03, for a total value of $1,405,021.59. Following the transaction, the general counsel now owns 258,406 shares of the company’s stock, valued at approximately $12,411,240.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $44.39, for a total value of $921,092.50. Following the transaction, the chief executive officer now owns 1,803,278 shares of the company’s stock, valued at $80,047,510.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 118,710 shares of company stock valued at $4,978,164. Company insiders own 36.00% of the company’s stock.

Hedge Funds Weigh In On Maplebear

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vinva Investment Management Ltd bought a new position in Maplebear during the third quarter worth about $212,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Maplebear by 95.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,258 shares of the company’s stock valued at $1,233,000 after purchasing an additional 14,750 shares in the last quarter. FORA Capital LLC acquired a new position in shares of Maplebear in the 3rd quarter valued at approximately $5,231,000. Beaconlight Capital LLC increased its stake in Maplebear by 54.7% during the 3rd quarter. Beaconlight Capital LLC now owns 213,797 shares of the company’s stock worth $8,710,000 after purchasing an additional 75,598 shares in the last quarter. Finally, Blueshift Asset Management LLC bought a new position in Maplebear in the third quarter valued at approximately $788,000. 63.09% of the stock is 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.