Maplebear (NASDAQ:CART) Given New $57.00 Price Target at Stifel Nicolaus

Maplebear (NASDAQ:CART) had its price objective raised by Stifel Nicolaus from $56.00 to $57.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also commented on CART. JMP Securities upped their target price on Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 price objective on shares of Maplebear in a research report on Wednesday. Bank of America lifted their price objective on shares of Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday. Robert W. Baird increased their target price on shares of Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Loop Capital lifted their price target on shares of Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Thirteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Maplebear presently has a consensus rating of “Moderate Buy” and an average target price of $49.92.

Maplebear Stock Performance

Maplebear stock opened at $41.09 on Wednesday. The firm has a 50 day moving average price of $46.43 and a two-hundred day moving average price of $42.72. Maplebear has a 52-week low of $29.84 and a 52-week high of $53.44. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.19 and a beta of 1.07.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.16. The business had revenue of $883.00 million for the quarter, compared to analyst estimates 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 predict that Maplebear will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling at Maplebear

In related news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction on Friday, December 20th. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 46,061 shares of company stock worth $1,987,318. Insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

Several hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew 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 acquiring an additional 222 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Maplebear in the third quarter valued at approximately $33,000. Allworth Financial LP grew its holdings in Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares during the period. NewEdge Advisors LLC grew its holdings in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after purchasing an additional 717 shares during the period. Finally, Anderson Financial Strategies LLC purchased a new stake in Maplebear in the fourth quarter worth $46,000. 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.