Maplebear Inc. (NASDAQ:CART) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Maplebear Inc. (NASDAQ:CART) have earned a consensus rating of “Moderate Buy” from the twenty-six analysts that are presently covering the firm, Marketbeat reports. Thirteen analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $47.14.

A number of research firms have recently commented on CART. Robert W. Baird upped their price objective on shares of Maplebear from $44.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Bank of America increased their price target on Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price objective on Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Barclays raised their target price on Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Maplebear in a research note on Monday, October 7th.

Insider Transactions at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 8,345 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total value of $333,800.00. Following the completion of the sale, the general counsel now owns 330,886 shares in the company, valued at approximately $13,235,440. This trade represents a 2.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total transaction of $92,261.82. Following the transaction, the chief accounting officer now directly owns 89,982 shares in the company, valued at approximately $3,694,660.92. This represents a 2.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,954 shares of company stock valued at $4,890,405 over the last ninety days. 36.00% of the stock is currently owned by insiders.

Institutional Trading of Maplebear

A number of institutional investors and hedge funds have recently modified their holdings of CART. Pacer Advisors Inc. purchased a new position in Maplebear in the third quarter worth $158,701,000. Sculptor Capital LP bought a new stake in shares of Maplebear during the 2nd quarter worth $77,361,000. Geode Capital Management LLC raised its stake in shares of Maplebear by 151.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after purchasing an additional 1,647,081 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Maplebear by 5,191.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock worth $60,689,000 after buying an additional 1,461,501 shares during the last quarter. Finally, Southpoint Capital Advisors LP grew its position in Maplebear by 56.3% during the third quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock valued at $101,850,000 after buying an additional 900,000 shares during the period. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Down 0.3 %

NASDAQ CART opened at $41.78 on Friday. The company has a market capitalization of $10.73 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 1.08 and a beta of 0.94. Maplebear has a twelve month low of $22.13 and a twelve month high of $50.01. The stock has a fifty day simple moving average of $43.80 and a 200 day simple moving average of $37.79.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. The company had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($20.86) earnings per share. Research analysts expect that Maplebear will post 1.4 earnings per share for the current fiscal year.

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.