Maplebear (NASDAQ:CART) Stock Price Expected to Rise, Barclays Analyst Says

Maplebear (NASDAQ:CART) had its price target hoisted by Barclays from $56.00 to $58.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 18.90% from the stock’s previous close.

CART has been the topic of several other research reports. Seaport Res Ptn raised Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. 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, November 13th. JMP Securities upped their target price on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. BMO Capital Markets lifted their price target on shares of Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Finally, Macquarie upped their price objective on shares of Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.12.

Maplebear Trading Down 1.2 %

Shares of NASDAQ CART opened at $48.78 on Wednesday. The firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 1.19 and a beta of 1.07. Maplebear has a one year low of $29.72 and a one year high of $53.44. The business has a fifty day simple moving average of $46.46 and a 200 day simple moving average of $42.68.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results 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. The firm had revenue of $883.00 million during 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%. On average, research analysts anticipate that Maplebear will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were 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 owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. The trade was a 1.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Alan Ramsay sold 2,314 shares of the firm’s 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 sale, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,311 shares of company stock valued at $1,088,636 over the last ninety days. Insiders own 36.00% of the company’s stock.

Institutional Trading of Maplebear

A number of institutional investors have recently modified their holdings of CART. Jones Financial Companies Lllp raised its position in Maplebear by 46.6% in the 4th 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 last quarter. CIBC Asset Management Inc grew its stake in shares of Maplebear by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock worth $331,000 after acquiring an additional 286 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Maplebear by 101.4% in 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 last quarter. WCG Wealth Advisors LLC raised its holdings in shares of Maplebear by 3.3% in the fourth quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company’s stock valued at $590,000 after purchasing an additional 451 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in shares of Maplebear by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after purchasing an additional 490 shares in the last quarter. 63.09% of the stock is currently 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.